Leeds United buy back Elland Road
Leeds United have confirmed the re-acquisition of their home ground Elland Road, 13 years after they were forced to sell it.
A statement on the club’s official website read:
“Leeds United are delighted to announce that Greenfield Investment Pte Ltd, an Aser Group company and parent company of Leeds United Football Club Limited, has completed the purchase of Elland Road Stadium.”
OFFICIAL: Leeds United have confirmed they have repurchased Elland Road after it was originally sold off for £8m in 2004. pic.twitter.com/EMuLZM0T0e
— Squawka News (@SquawkaNews) June 28, 2017
The Yorkshire Evening Post further reported that the deal is worth around £20 million, and will save Leeds the £1.7 million per year that they previously paid in rent.
Elland Road, which is the fourth largest largest stadium outside the Premier League, has been the home of Leeds United ever since its foundation in 1919. In 2004, the then club Chairman Gerald Krasner was forced to sell the ground on a lease back deal, following their relegation from the Premier League.
“Today is an important day in our history and a proud day for me and my team.” Chairman and owner Andrea Radrizzani said. “When I met with both management and supporters during my first few months at the club, the purchase of Elland Road was very high on their list of priorities and I’m delighted to be able to announce that we have completed that process today.”
— Stephen Warnock23 (@StephenWarnock3) June 28, 2017
Previous owner Massimo Cellino promised in 2014 that he wanted to buy back the stadium but couldn’t do so. He ultimately sold his remaining 50% stake to his fellow countryman Radrizzani in May.
— Andrea Radrizzani (@andrearadri) June 28, 2017
Leeds City Councillor Judith Blake also commented on the purchase of Elland Road, saying:
“This is an extremely positive step in the right direction for everyone associated with Leeds United and especially the club’s tremendous and loyal fans.”
“As we prepare for the new season to begin in August, I very much welcome the intent being shown by Andrea to move the club forward with real purpose and ambition.”
The ground is currently undergoing some minor updates and renovations and is expected to be finished before the start of the next season.
How did the fans react on Twitter?
— Daniel Hopper (@DanielH_LUFC) June 28, 2017
ANNOUNCE RADRIZZANI GOLD STATUE
— Enzo Eamore (@EamoV1) June 28, 2017
I'm gone!!!! Welling up!!!! Yessssssssss pic.twitter.com/8IXXQlkf3M
— Butterbean (@carlos061181) June 28, 2017
THE signing of the summer #lufc
— Tommo (@LUFC1992) June 28, 2017
Love you @andrearadri ❤
— Ralu♓ (@RaLUFC) June 28, 2017
@andrearadri this means so much to the fans, thank you ❤️
— TomAxe (@tom_axe) June 28, 2017
Who would want to buy that old relic. ? Oh a championship club maybe. ??
— Duncan Foster (@duncanfo) June 28, 2017