Leeds United’s new owner eyes £17m Elland Road purchase

ITALIAN businessman Andrea Radrizzani, who bought a 50% stake in Leeds United earlier this month, has declared he will look at buying back Elland Road.

The ground has been home for the Championship club since it was founded in 1919, but a financial crisis resulted in it being sold in 2004, with a 25-year lease and buy-back clause. That clause reportedly stands currently at around £17m.

“Everybody knows that Elland Road is an iconic stadium, not only for Leeds but also for the history of English football,” said Mr Radrizzani.

“I have to evaluate the opportunity to buy back the stadium but I need some time to analyse that. I have just arrived here, so I need to see if this solution is practical, what timeline it could be done, what investment would be required.

“After all it is not only buying the stadium, it is what you do with it afterwards.”

Leeds United’s highest finishing position in the league since the club was relegated from the Premier League in 2004 was a seventh-placed finish in the Championship in 2011.

There is a real chance of surpassing that this season, with the team in third and just one place below the automatic promotion places that would see it return to the Premier League.  

However Mr Radrizzani, who was at Elland Road for the 1-0 win against Derby County on Friday, steered clear of talking up a spending splurge on players in the transfer window to try to ensure a top-two finish.

“Football has shown many times that money doesn’t really equal success all the time,” he said. “We need to follow the direction given by Garry [Monk, the manager] in the market window and coordinate with him what we need, and keep the right balance in the group.”

Mr Radrizzani’s approach was in marked contrast to his co-owner Massimo Cellino, who fans believe has consistently over-promised and under-delivered.

He added: “I have a clear mind of what the club needs but what I don’t want to do is [make] promises because the club needs action and needs time.

“Playing in the Football League is not easy – financially for a club, because it is a loss-making club to be honest, so it’s not easy to manage a part that makes loss every year.

“We need to find the right balance with the progression of the club. The club is a bit old in terms of facilities and services, so there is a lot to do.

“But at the same time if you invest too much you add losses, so we need to find a way to have a good balance and have a sustainable club in the medium and long term.”

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