Leeds United is pushing toward a crucial summer. The newly crowned Championship champions have been promoted back into the English Premier League, a move that comes with an influx of cash.
The Whites, who posted a $81 million financial loss last season, are expected to receive multimillion-dollar escalators from their commercial deals with partners, such as the deal with front-of-shirt sponsor and minority shareholder Red Bull. The sponsorship deal with the energy drink company signed last year was the biggest in Championship history.
Leeds will also receive additional cash thanks to the increase in media rights revenue that comes with a Premier League promotion. The West Yorkshire club—which has a slew of athlete investors, from NBA guard Russell Westbook to golf star Jordan Spieth—is guaranteed a minimum of $265 million in broadcast money alone over the next three years regardless of next season’s outcome, according to The Athletic.
The incoming cash comes at a good time after the club watched its revenue dip more than 30% after being relegated to Championship two years ago in large part due to reductions in broadcast money and central distribution payments.
49ers Enterprises, the investment arm of the San Francisco 49ers, fully took over ownership of the club from Italian businessperson Andrea Radrizzani in 2023. The 49ers originally bought a 15% minority stake in Leeds in 2018 and steadily increased their stake over the years until completion two years ago. Leeds United chairman Paraag Marathe looks to put his stamp on the club after previously serving as a board member and vice chairman under Radrizzani.
“The last time [Leeds was] in Premier League, I was a passenger on a plane that I was watching fly into a mountain,” Marathe said in a video interview. “I got for myself a nice playbook on what not to do. Before you can succeed, you have to learn what you need to avoid.”
Leeds, which regularly sells out home games, has nearly 28,000 people on its waiting list for season tickets and continues to look for ways to address the high demand from its supporters. The club is hoping the promotion bodes well in fundraising efforts and ongoing talks with city officials to greenlight a potential renovation to Elland Road Stadium that calls for expanding seating at the 37,000-seat stadium by at least 15,000 seats.
“We’re just starting to scratch the surface of what we can do,” Marathe said. “It’s not just about making money for making money’s sake. It’s about making money to spend it on players and get better. This will never be a dividend game.”
49ers Enterprises is dedicating resources to Leeds now after dedicating significant resources to the NFL team over the past several years. Though the Niners missed the playoffs this past season, the team remains engaged in contract extension talks starting quarterback Brock Purdy, for example, while other 49ers executives and staffers lend their time and expertise to help with Leeds.
“It actually enables us to run it back,” Marathe said. “We did it at the 49ers over the last 15 years with (opening) Levi’s Stadium and building back the football side of (things). Now it’s an opportunity to run it back with Leeds.”
49ers Enterprises is expanding its reach, as it is joining a U.S. consortium slated to finalize a controlling stake in coming months to take over the Glasgow-based Rangers FC, which competes in Scotland’s top division. The Scottish soccer giants, who have a league record 55 titles, are the latest project for the 49ers brain trust. The impending transaction will continue the ongoing wave of American investors aiming to resurrect storied teams and lower-tier clubs across Europe.
“We view it as three uncut diamonds,” Marathe added. “We’ve polished up the 49ers, and now on the path to doing it with Leeds, and there’s another opportunity there with Rangers.”
