49ers to complete Leeds takeover with NBA players Nance, McConnell as minority investors
Leeds United's Weston McKennie, right, and Chelsea's Mateo Kovacic, second from left, challenge for the ball during the English Premier League soccer match between Chelsea and Leeds United at at the Stamford Bridge stadium in London, Saturday, March 4, 2023. The San Francisco 49ers have reached an agreement to take over English soccer club Leeds with NBA players Larry Nance Jr. and T.J. McConnell joining the ownership group as minority investors. Credit: AP/David Cliff
LEEDS, England — The San Francisco 49ers ownership group has reached an agreement to take over English soccer club Leeds with NBA players Larry Nance Jr. and T.J. McConnell joining as minority investors.
The NFL team's investment arm — 49ers Enterprises — originally bought a 15 percent stake from Leeds chairman Andrea Radrizzani in 2018 and increased it to 44 percent in late 2021.
Leeds didn't specify the sale price for the remaining 56 percent but British media reported it to be 170 million pounds ($214 million).
“Both parties continue to work through the details, and further updates will be provided soon,” Leeds said in a statement Friday. “All of our focus remains on a quick return to the Premier League.”
Leeds will play in the second-tier Championship next season after being relegated from the Premier League.
Nance and McConnell revealed on social media that they've joined the ownership group. No financial details were provided.
Nance, a forward for the New Orleans Pelicans, wrote on Instagram that he was “absolutely honored to be part of the new ownership group." McConnell, a point guard with the Indiana Pacers, said he was “humbled and honored.”
New Orleans Pelicans forward Larry Nance Jr. (22) reacts after making a basket in the second half of an NBA basketball game against the New York Knicks in New Orleans, Friday, April 7, 2023. The Pelicans won 113-105. The San Francisco 49ers have reached an agreement to take over English soccer club Leeds with NBA players Larry Nance Jr. and T.J. McConnell joining the ownership group as minority investors. Credit: AP/Gerald Herbert
