Leeds complete deal to buy back Elland Road 13 years after first selling stadium
Andrea Radrizzani made the ground's purchase a priority after taking control of the club
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Leeds' Elland Road stadium is under club ownership for the first time in 13 years after Andrea Radrizzani completed a deal to purchase the ground.
The Sky Bet Championship club announced the agreement with Teak Commercial Limited, a firm based in the British Virgin Islands and owners of Elland Road since 2004, on Wednesday.
A club statement read: "Leeds United Football Club is delighted to announce that Greenfield Investment Pte Ltd, the Aser Group Holding company and parent company of Leeds United Football Club, has completed the purchase of Elland Road Stadium.
"The agreement concludes a successful negotiation process with Teak Commercial Limited, the landlord, and achieves what owner Andrea Radrizzani had set out as a top priority in allowing the Championship club to buy back its stadium following the completion of Radrizzani's takeover of the club from Massimo Cellino."
Elland Road was sold in 2004 for £8m during Leeds' financial crisis which saw the former English champions spiral from the Champions League into the third tier of domestic football.
But Radrizzani made the ground's purchase a priority after taking control of the club.
Radrizzani said: "Today is an important day in our history and a proud day for me and my team.
"When I met with management and supporters during my first few months at the club the purchase of Elland Road was very high on their list of priorities and I'm delighted to be able to announce that we have completed that process today."
Leeds said the savings on "considerable" rental fees will be redirected towards the first-team squad, academy and improvements to the stadium.
Building work is already under way on the West Stand and will be completed for the start of the season, United added.
Leader of Leeds City Council Councillor Judith Blake added: "It is fantastic news that the club have confirmed the buy-back of Elland Road Stadium.
"This is an extremely positive step in the right direction for everyone associated with Leeds United and especially the club's tremendous and loyal fans.
"As we prepare for the new season to begin in August, I very much welcome the intent being shown by Andrea to move the club forward with real purpose and ambition."
PA
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments