Leeds United are at the dawn of a new era, after the club confirmed on Friday evening that 49ers Enterprises have agreed a deal to purchase the team from Andrea Radrizzani's Acer Ventures.
This agreement sees what has been a protracted takeover come to an end, after Leeds' relegation from the Premier League last month put paid to an initial agreement between the two parties that was originally drawn up with the Whites valued as a top flight side.
That meant that Radrizzani and 49ers Enterprises had to head back to the negotiation table and thrash out a new deal that was based on the reduced finances that a Championship side has to operate on, but 12 days after the season ended, a deal has been agreed upon.
This should now ensure that Leeds' rebuild for the Championship can begin in earnest. The club this week confirmed that Sam Allardyce has left his post as head coach, meaning that Leeds are on the hunt for a new manager, a new director of football and have to prepare for the transfer window, which opens domestically next week and worldwide on July 1.
READ MORE: Leeds United news LIVE: Reaction as 49ers Enterprises agree takeover deal
Here is the statement in full on the takeover:
Leeds United's statement in full
"Leeds United can confirm an agreement has been reached between Aser Ventures and 49ers Enterprises for the purchase of the club.
"Both parties continue to work through the details, and further updates will be provided soon.
"All of our focus remains on a quick return to the Premier League.
"Thank you for your continued support."
