Phil Hay has told The Athletic during a Q&A session with Leeds United fans that the proposed takeover of the club by the 49ers Enterprises is still likely to go ahead – even if the Whites are relegated to the Championship this term.
As things stand, the 49ers own 44% of the club while Andrea Radrizzani retains an overriding stake of 56%. But that percentage has steadily reduced and been sold to the 49ers. There are plans for a full takeover in January 2024.
But, with Leeds languishing in the bottom quarter of the Premier League, there have been concerns that a takeover may not go through. It might leave Radrizzani in charge of a club that is no longer believed to be valued at £500m.
Hay has answered questions regarding relegation – and whether it affects a takeover. He states that the 49ers’ have been interested in the long-term, and that relegation would not soften that interest. But, it will reduce the price.
“According to people spoken to by The Athletic, the struggle has not negatively affected 49ers Enterprises’ long-term interest in Leeds. There is, seemingly, a good chance that it would want the club even if Leeds went down.
“But those circumstances would require a different deal at a different price. There is no fixed agreement in place between Radrizzani and 49ers Enterprises about exactly what happens in those circumstances,” Hay reports.
Hay: Proposed 49ers takeover of Leeds still likely if Whites are relegated
The issue is that Radrizzani will be losing a whole heap of cash if Leeds go down. The 49ers will not want to buy the club at the current valuation, if they are in the second tier. That may tempt Radrizzani to stay, hope for promotion.
But it is not as easy as that. Burnley have shown this season that you can go down and bounce straight back up – Fulham, too. It is not black and white and Leeds have got more to play for in the fight against the drop than most.
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