Leeds United chiefs break silence after takeover approval as 28-medal Olympian revealed as investor

Leeds released a full statement on Monday evening confirming the sale of the club, which sees United come under the full ownership of 49ers Enterprises after an agreement was initially reached on June 9.

Incoming chairman Marathe outlined his aims for the years ahead, describing the transition of ownership as a ‘necessary reset’, while chief executive Kinnear who remains in his role, spoke of ‘fresh leadership, management and a commitment to investment’ at Elland Road.

“This is an important moment for Leeds United and we are already hard at work,” Marathe said, addressing supporters whose patience has been tested in recent months following relegation from the Premier League.

“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," he added.

“49ers Enterprises is bringing fresh leadership, management, and a commitment to investment, which I’m confident will meet our ambition to compete for promotion and remain in the top flight as an established Premier League Club,” Kinnear said.

“I know Paraag, Rudy [Cline-Thomas] and 49ers Enterprises will keep supporters central to their plans during their custodianship and I am excited to work in realising the true potential of this great club.”

Cline-Thomas arrives as co-owner and vice president of the club and spoke of his pride upon taking on his new role in LS11: “"With my family hailing from Leeds, it's an honour to be able to uplift this incredible community. This is more than just an opportunity, it's a personal mission. The chance to reinvigorate the cherished Leeds culture, to create a platform that attracts the world's finest players, and build a truly global brand that celebrates diversity, is a prospect that thrills me.”

In addition to the new board of directors’ comments, it has been revealed that 28-time Olympic medallist Michael Phelps is among the several world-renowned sportspeople involved with the 49ers’ investment group.

He joins NBA basketball players Larry Nance Jr. and Russell Westbrook, US golfers Jordan Spieth and Justin Thomas and NHL hockey star Erik Johnson within the consortium as a minority shareholder.