Leeds United have announced the EFL has approved the auction of sale of the club to American investment group 49ers Enterprises

Controlling stake last month, with the deal valuing the club at around £170m.

49ers Enterprises, which owns NFL franchise the San Francisco 49ers, has steadily increased its stake in Leeds since becoming a minority shareholder in 2018.

Paraag Marathe, previously vice chairman, will take over as chairman. Chief executive Angus Kinnear will remain in his current position and Rudy Cline-Thomas, founder and managing partner of venture capital firm MASTRY, will join the board as co-owner and vice chairman.

“This is an important moment for Leeds United and we are already hard at work,” Marathe said. “This transition is a necessary reset to chart a new course for the Club.

“We have already appointed a highly-respected First Team Manager with a track record of success, and we are confident Leeds will field a competitive squad to contend for promotion next season. It’s a privilege to carry this torch as I know we have a responsibility to ensure this Club makes our staff, players, supporters, and the Leeds and Yorkshire communities proud.”

Please use Chrome browser for a more accessible video player Jordan Spieth has revealed that Rickie Fowler pulled out of the 49ers group about to takeover Leeds United, subject to EFL checks. Spieth and Justin…