San Francisco 49ers are planning to buyout Leeds United by the start of 2024 in a deal worth more than £400m.
The investment arm of the NFL franchise – 49ers Enterprises – has an option to take 100 per cent control of the club by January 2024 in a deal which would include ownership of Elland Road, reports the Athletic.
A deal for a full buy-out in excess of £400m was struck in January this year, when the 49ers’ stake went up to 37 per cent, but now a deal which could be worth as much as £475m is set to be completed in just over two years’ time.
The report also details that a buy-out could come sooner than January 2024, which is the current deadline.
The 49ers are owned by American billionaire Denise DeBartolo York, 71, and her family, who own over 90 per cent of the franchise which is now worth $3.5 billion.
York’s father Edward Debartolo Sr bought the team in 1977 but Denise took control in 2001.
Her son, Jed, is now the CEO of the 49ers – the York family are worth $4 billion as of June 2021 according to Forbes.
