49ers Enterprises took a huge step towards completing their takeover at Leeds United after agreeing terms with Andrea Radrizzani and Aser Ventures. It's the start of a summer of rebuilding for the Whites following their relegation from the Premier League.
The two parties are still ironing out the finer details, and the EFL will need to grant the takeover approval before any managerial or transfer decisions can be made. The 49ers will have to pass the EFL's Owners and Directors’ Test (OADT) before the takeover is given the green light.
The OADT is in place to 'protect the image and integrity of The League and its competitions, the well-being of the Clubs, and the interests of all of the stakeholders in those Clubs, by preventing anyone who is subject to a ‘Disqualifying Condition’ being involved in or influencing the management or administration of a Club.'
The football governing body announced new additions to OADT with immediate effect, following the EFL's annual general meeting which are effective immediately.
The list of disqualifying conditions has been updated to include:
- Disqualifying individuals who are subject to sanctions;
- Prohibiting ownership by state entities from countries which are sanctioned;
- Second (or further) bankruptcies/convictions/bans, even if expired or spent.
- Convictions for violent offences;
- Convictions for fraud of any kind;
- Disqualification for wider corporate insolvencies;
- Disqualifications by a wider range of Government bodies;
- Having been removed as a trustee of a pension scheme by the Pensions’ Regulator or the Courts;
- Expulsion of sporting clubs in other sports (eg. Rugby) as the League does for football clubs;
- Expanding the period in which insolvency of a company/club counts against a director who has resigned from 30 days to one year; and
- Reducing the definition of Control from 30% to 25%
49ers current involvement at Leeds United means they're highly unlikely to fail the EFL's OADT ahead of next season. You can read the full details of the test here.
