Red Bull has officially purchased a minority stake in Leeds United. The English side only just missed out on a chance of earning promotion back to the Premier League last weekend. As a result, the Whites will compete once again in the second-tiered EFL Championship for the 2024/25 season.
Red Bull’s move comes less than a year after 49ers Enterprises completed the full takeover of Leeds last summer. The American investment group is currently the private equity arm of the NFL’s San Francisco 49ers. The firm is essentially filled with various individuals, as well as the American football team, that collectively control the soccer club. Actor Will Ferrell recently joined as an investor.
49ers Enterprises previously purchased a 44% minority stake in Leeds back in 2018. Nevertheless, they eventually took over the team by buying out Andrea Radrizzani’s remaining shares in July of 2023. The agreement cost the new ownership around $215 million.
Red Bull also agrees multi-year deal with the club to be a shirt sponsor
By becoming a minority owner, Red Bull will also be the official shirt sponsor of Leeds. The energy drink is set to replace the club’s previous deal with BOXT. The sponsorship switch represents a fairly large increase in value compared to the previous deal.
“I am thrilled that Red Bull is joining us to build a bright future for Leeds United and shares our deep respect for this truly special club,” stated Paraag Marathe, chairman of Leeds United.
“As chairman, our consortium of investment partners will be invaluable to me as we approach this important moment for the club, now and into the future. Red Bull’s addition is a historic milestone that will further empower the club to reach its full competitive potential.”
“We are delighted to be an important element and partner of Leeds United,” proclaimed Red Bull CEO Oliver Mintzlaff. “A club that is certainly one of the biggest in England and has a rich and…
Source link : https://worldsoccertalk.com/news/red-bull-buys-stake-in-leeds-becomes-clubs-shirt-sponsor/
Author : Chris Moore
Publish date : 2024-05-30 19:05:09
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