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Well, this is certainly an interesting development.
It appears that Leeds United owner Andrea Radrizzani is looking at adding an additional investor to his ownership of Leeds United. The deal is supposedly almost complete, with a minority share of Leeds going to a new investor, with Radrizzani remaining as chairman of the club.
Exclusive - Leeds United set for cash injection as Andrea Radrizzani prepares to sell minority stake:https://t.co/1k8Gd1QDNq
— Phil Hay (@PhilHayYEP) May 10, 2018
Unless it’s a conversion of loans to shares looks as if #LUFC have had a near £9 million injection of cash from investors in the last week. pic.twitter.com/2jXB1HxkuP
— PriceOfFootball (@KieranMaguire) May 10, 2018
Word of a new investor comes after a report from Companies House that reported that Leeds recently had an injection of £9 million from investors. It appears that Radrizzani converted a loan from Greenfield, Radrizzani’s umbrella company for all things Leeds United, into shares of the club, meaning that those shares can now be sold to an outside investor.
There have been plenty of rumours since last weekend about a possible investor coming in, and it appears that there have been some truth to those rumours. And while this is not a “takeover” per se, it is adding a new investor and part owner of the club.
Naw naw
— Phil Hay (@PhilHayYEP) May 10, 2018
Who this new owner will be remains to be seen, but it doesn’t look like the new owner is connected with the ill-convinced trip to Myanmar nor Zaw Zaw, the controversial head of AYA bank and the head of the Myanmar FA.
Add to the list of reasons we are lucky to have @PhilHayYEP #lufc #MOT pic.twitter.com/55a6KfqIHz
— Mighty Whites Pod (@mightywhitespod) May 10, 2018
Getting more cash into the club is not a bad thing. Leeds United need a bigger and better transfer budget if they are to compete at the level required to gain promotion to the Premier League. Leeds has long been called a “sleeping giant” of English football, with the large attendance numbers and presence in a market that has only one professional football club. However, the more than a decade that the club has spent outside the Premier League have left the club high and dry, needing cash to compete with the clubs with parachute payments.
It looks like the additional cash that is coming into the club will be used for transfers, and that should be welcome news to Leeds fans. After a disappointing campaign, some hope is needed to get Leeds fans excited again. Let’s hope this new part owner isn’t as bad as some of the previous ones we’ve had over the years.