Current Leeds United majority owner Andrea Radrizzani offered to put up the club’s stadium, Elland Road, as collateral to purchase Sampdoria. The Italian businessman currently owns more than 50% of the English club through his company Aser Ventures. Leeds were just relegated from the Premier League last weekend after a disastrous season.
According to The Athletic, Radrizzani has offered to use Elland Road as collateral to secure a $32 million loan. This loan then assisted the takeover of the Italian side. Much like Leeds, Sampdoria is suffering relegation this season. The Genoese side currently sits bottom of the Italian top flight and has collected just three victories in the league this season. Sampdoria will complete their campaign with a matchup against champions Napoli on Sunday.
Leeds minority investors unaware of move between Elland Road and Sampdoria
Radrizzani was not at Elland Road last Sunday for the team’s final match of the season. Instead, the Italian was working on the deal to buy Sampdoria. Leeds will return to the Championship after three years in the English top flight.
Although Radrizzani does currently have a majority stake in Leeds, 49ers Enterprises also controls about 44% of the team. According to the aforementioned news outlet, the minority investors were completely unaware of Elland Road’s use in the massive loan. The stadium is not, however, actually owned by Leeds. Radrizzani privately purchased Elland Road in 2017.
The Athletic reached out to Radrizzani to discuss the Italian’s decision to use Elland Road as collateral. Radrizzani wasn’t exactly open to talking about the move. “What Aser Ventures does with its assets which includes several companies including Leeds United, Greenfield and Elland Road.. it’s none of your business,” stated the businessman.
49ers Enterprises likely to restart negotiations for club
49ers Enterprises have made it known that they are willing to purchase more of a stake in Leeds to become majority owners. However, previous considerations depended on the club staying in the Premier League. Things have changed on this front now that the Whites will take part in the Championship next season.
Nevertheless, Radrizzani and 49ers Enterprises should begin renegotiations once again for the buyout. The eventual final purchase price will surely be lower than first expected because of the relegation.
PHOTO: IMAGO / PA Images
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