January 25th 2020 was confirmation day of a deal that had been in the works for several months following Leeds United’s promotion to The Premier League. The 49ers more than doubled their stake in the club, installing a new Vice Chairman in the process as Paraag Marathe steps-up from board membership to one of the leading members of Leeds United.
But 49ers Enterprises don’t seem to be the only ones reaching into their pockets to get a piece of Leeds United, as YouTube co-founder Chad Hurley revealed on Twitter following the announcement of The 49ers’ new investment - thought to be worth over £50 million.
Breaking! Following my previous investments in @warriors and @LAFC, I’m proud to announce I’m joining the ownership group of @premierleague club @LUFC. See you soon at Elland Road! ⚽️ #MarchingOnTogether https://t.co/1aYHyUQqV2— Chad “Lasso” Hurley (@Chad_Hurley) January 25, 2021
They led the round and I’m joining them with a few others.— Chad “Lasso” Hurley (@Chad_Hurley) January 26, 2021
Hurley tweeted that he has also brokered a deal to invest in Leeds United, likely a much smaller one considering that we didn’t hear about it from the club officially. When asked if he was part of The 49ers Enterprises investment, he responded with “they led the round and I’m joining with a few others.“
This could mean that a second group to The 49ers has emerged, likely individuals like Hurley who are buying separate chunks of the club that will likely boost the cash injection fairly significantly when all investment is put together, It is as yet unknown who these other investors are.
Who is Chad Hurley?
Co-founder of YouTube, minority stake owner in the Golden State Warriors NBA team and LAFC in The MLS while also being Executive Chairman of Green Park Sports, a sports fantasy game who are partnered with the NBA and La Liga.
Hurley’s reported net worth stands at around $355 million while he is estimated to make around $4.5 million per year. Clearly an excellent businessman who has experience in helping to run successful teams, especially the Warriors who have won three championships in the last five seasons - cementing themselves as one of the greatest teams ever assembled in the NBA.
It’s been made clear that the goal for Leeds United lead by Andrea Radrizzani is to become a Premier League mainstay before challenging for the top-six in the coming years - something that Whites fans will be desperate to see.
Focus must now move back toward the next game though, with plenty of work this season still to be done.