(Reuters) - Leeds United owner Andrea Radrizzani has reached an agreement to sell his stake in the club to 49ers Enterprises, the second-tier English side said on Friday.
49ers Enterprises, the investment arm of the NFL franchise San Francisco 49ers, have been a shareholder at Leeds, recently relegated from the Premier League, since their initial investment in May 2018.
Over the last few years, their stake increased to 44 percent, while Radrizzani's Aser Ventures owned the remaining 56 percent. Leeds said that a purchase had now been agreed.
"Both parties continue to work through the details, and further updates will be provided soon," said a statement.
Earlier this season, Radrizzani and his partner Matteo Manfredi made a purchase of the relegated Serie A club Sampdoria.
Leeds were relegated from the top flight this season after a roller-coaster season under four different managers. They finished second from bottom in the standings on 31 points.
"All of our focus remains on a quick return to the Premier League," the statement added.
(Reporting by Tommy Lund in Gdansk; Editing by Christian Radnedge)