Leeds United group sets deadline for 49ers Enterprises commitment amid ownership confidence
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The scheme was set up eight years ago with the goal of obtaining a level of fan ownership at Leeds United through a stake in the club.
Leeds Fans Utd first reached an agreement in principle with former owner Massimo Cellino in 2015 to buy a majority stake but the Italian later decided against selling to them. Two years later Leeds, owned by Andrea Radrizzani, announced they had agreed heads of terms to pave the way for supporter investment. A July 2019 statement then confirmed that the investment would 'kick-start' plans for a brand new training facility but the unveiling of those plans would be put back to the club's centenary year - 2020. The delay led to investors in Leeds Fans United being afforded an opportunity to withdraw their money.
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Hide AdTwo years later however it emerged that Leeds no longer planned to build a training ground at the former Matthew Murray High School site, because expanding Elland Road was a more immediate priority, although redevelopment of the stadium has not yet begun.
With Leeds on the verge of another change in ownership, Leeds Fans Utd have updated their members on their relationship with the incoming owners and the plan to try and bring their eight-year campaign to a successful conclusion.
The update read: "We have been engaged with Leeds United for a number of years now, pressing for fans to get shares in the club. We have had many positive discussions with them and also the 49ers, but these have never translated into concrete actions to achieve our goal. We are confident that this situation will change with the 49ers in full control.
"LFU has now been trying for 8 years to achieve its aim – far longer than originally envisaged. Our shareholders have been incredibly patient but this change of ownership is, we believe, the point at which to move forward towards this goal, or to accept that it simply isn’t going to be possible. We appreciate that the new owners will have many other priorities but we will be looking for them to make a written commitment before the end of this year to work with us. In the absence of this we will begin the process of returning to shareholders 90% of their original investment and of winding up the project.
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Hide Ad"The 49ers have big issues to settle at the club just now and we will respect their need to focus on those matters; we feel that there will be no new information for members until the start of the season and have pencilled in September for the date of the next AGM."
Leeds Fans Utd chairman Brendan Meehan believes 49ers Enterprises could yet pave the way for a fan-owned stake in Leeds United but for the time being there are more crucial matters for the Stateside investment group to attend to.
"We're very hopeful that the new ownership will bring positive developments at the club, including in the areas of fan engagement and fan share ownership," he told the YEP.
"This positivity is based on our past engagements with the club and with them but time will tell. We need to give the 49ers the room to deal with more pressing issues for the moment."
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Hide Ad49ers Enterprises are in the midst of lining up a head coach and working in the background on their initial recruitment plans but say EFL ratification of their takeover must come first.
The hope at Elland Road is that both the takeover and a new manager will be confirmed by the time the first tranche of players return for pre-season training on Sunday.