National Football League (NFL) franchise San Francisco 49ers have increased their stake in Leeds United to 37 per cent following a new investment.
The announcement builds on the strategic partnership between Leeds United and 49ers Enterprises that was first initiated in 2018, after the American football entity purchased 15 per cent of the club from chairman Andrea Radrizzani.
“We are delighted to welcome further investment into our club from 49ers Enterprises and I am confident that this latest partnership will help Leeds United continue to grow and develop into the team our supporters deserve,” said Radrizzani.
“I have always been open to bringing partners on this journey with me, as long as these actions can benefit the long-term strategy of the club. Paraag and the team at 49ers Enterprises are uniquely positioned to collaborate with myself, Angus Kinnear, Victor Orta and our management team to help us achieve our goals.”
The new investment will also see 49ers Enterprises President and current Leeds United Board Member Paraag Marathe become the clubs vice chairman.
Marathe said: "Our 49ers Enterprises team has always shared Andrea’s vision for constructing a powerful and winning club in the most competitive football league in the world, and the experience of the last three seasons has been more exhilarating than we could have ever imagined.
"The hard work and bold leadership demonstrated by Andrea and his talented team has restored Leeds United’s rightful place in the Premier League and we look forward to playing an even bigger role in supporting their efforts to climb the table this year and into the future."
Marathe brings with him a extensive experience in the sporting industry, having overseen the football operations at the San Francisco 49ers, as well as overseeing the innovative design and construction process of the Levi's Stadium - the internationally recognised, state-of-the-art home of the 49ers.
“We are increasing our investment in Leeds United now to support and augment the organizational infrastructure needed to remain competitive in the Premier League,” added Marathe.
“We are committed to doing all we can to help the club compete for championships against the best football clubs in the world while providing an elevated supporter experience at Elland Road.”
Having collaborated for three years, the partnership has been successful for Leeds United, who has posted record-breaking commercial revenues, as well as earning promotion to the Premier League from the Championship last season.
Author: Jake Wilkin