The owners of Leeds United, 49ers Enterprises, acquired shares in Elland Road Limited over the past year. However, their shareholding is not substantial enough to gain control of the stadium, as per Kieran Maguire.
The American investment group had previously reached an agreement with former chairman Andrea Radrizzani in the summer to take charge of the Championship side. Nevertheless, Radrizzani retains control of Elland Road Ltd, which holds the majority ownership of the stadium.
According to financial expert Maguire, who shared this information on Twitter following the release of Elland Road Ltd’s financial reports for the year ending on June 30th, the company charges the football club an annual rent of £1.7 million and recorded a profit of approximately £1.5 million in the 2021-22 fiscal year.
Maguire also mentioned that “some shares were sold during the year to SF49’ers, but their ownership stake isn’t significant enough to gain control of the stadium.”
Although Leeds fans may have anticipated a new era under their American backers, Andrea Radrizzani, who purchased the iconic ground for £25 million in December 2020, still holds a significant presence within the club.
Leeds United continues to pay £1.7 million in annual rent for the use of Elland Road, with this lease extending for another nine years. The inability of 49ers Enterprises to gain control of the stadium means that the club is effectively losing money that could otherwise be reinvested in the team for improvements or to cover daily operating expenses.
While the situation could change in the future, as of now, Radrizzani continues to generate revenue from Leeds United.