Radrizzani takes 50% stake in football team Leeds United

Andrea Radrizzani has taken a 50 per cent stake in former English football champions Leeds United, the latest overseas interest in the English game.

Mr Radrizzani, a sports rights entrepreneur, now jointly owns the club with Massimo Cellino, the controversial Italian who acquired it in 2014. The value was not disclosed but the club is worth at least £50m, according to earlier transactions. GFH, the investment bank, sold shares to Mr Cellino based on that price in September.

Mr Radrizzani, 42, bought the stake for Aser Group holding, his investment business. He is co-founder of MP & Silva which distributes media rights for sports federations and clubs, including Italy’s Serie A league.

Leeds last won the title in 1992 and dropped out of the Premier League in 2004 after building up big debts. It subsequently went into administration but has climbed back to sit fifth in the second tier Championship. It attracted crowds of 40,000 in its heyday and has the potential to hold its own in the lucrative Premier League.

“I am delighted and proud to have acquired a 50 per cent stake in such a prestigious football club as Leeds United,” he said.

“I am excited by the challenge ahead and I will work alongside Massimo and everybody at the club to make Leeds United as successful as possible.

“I am fully aware of the great heritage and traditions of Leeds United and I will endeavour to be a fitting custodian on behalf of the many thousands of Leeds supporters, who are the lifeblood of the club.

“I am making a long-term commitment to Leeds United and will work to bring stability through ongoing investment. I aim to bring sustainable growth. I won’t do anything that will put the club’s future at risk.”

Mr Radrizzani had a payout when two Chinese companies took a 65 per cent stake in MP & Silva last year valuing it a more than $1bn.

Mr Cellino was the first person to be barred from owning a football club by failing the “fit and proper person’s test” of the Football League but won on appeal. He has had several disputes with the football authorities since then. In December, he was fined £250,000 for breaching the FA’s Football Agent Regulations and banned for 18 months.