Leeds takeover completed as 49ers team up with Olympic legend and Masters winner to take leaf out of Wrexham’s book
LEEDS have announced their takeover by the 49ers Enterprises and sporting legends is complete – as they take a leaf out of Wrexham’s book.
Swimmer Michael Phelps, who won 23 Olympic golds, and golf superstar Jordan Spieth are among the names joining in the buy-out.
49ers president Paraag Marathe is promoted from Leeds vice-chairman to chairman and is eyeing an instant Premier League return.
The American group – the business arm of NFL team the San Francisco 49ers – have gradually increased investment in the Elland Road club since 2018.
Marathe said: “This is an important moment for Leeds United and we are already hard at work.
“This transition is a necessary reset to chart a new course for the Club.
“We have already appointed a highly-respected First Team Manager with a track record of success, and we are confident Leeds will field a competitive squad to contend for promotion next season.
“It’s a privilege to carry this torch as I know we have a responsibility to ensure this Club makes our staff, players, supporters, and the Leeds and Yorkshire communities proud.”
Marathe takes over from Andrea Radrizzani, who had been Leeds’ majority owner since 2017.
Club CEO Angus Kinnear is staying put, leading day-to-day operations.
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Minority Leeds owner Michael Schwimer tweeted he was “thrilled” to reveal the “athletes partnering with @BigLeagueAdv to invest in @LUFC”.
He named Phelps, golfers Spieth and Justin Thomas, basketball’s Larry Nance and TJ McConnell and gridiron free agent Myles Jack, plus ice hockey pair Erik Johnson and Gabriel Landeskog.
It follows Wrexham’s transformation – and return to the EFL – after Hollywood stars Ryan Reynolds and Rob McElhenney took over in February 2021.