Radrizzani to re-purchase Elland Road

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Leeds United owner Andrea Radrizzani has revealed that he intends to step up plans to re-purchase Elland Road and the deal could be sealed by the end of the summer.

The Italian businessman made the revelation on Wednesday after it was announced on Tuesday that he has completed his full takeover of the club.

Radrizzani told the Yorkshire Evening Post that either Leeds or his investment firm Aser Group Holding, would look to activate a clause allowing the Championship club to repurchase a stadium which the club sold in 2004.

Leeds have leased Elland Road for the last 13 years, paying £2million in rent annually, and the Yorkshire Evening Post have previously reported that the cost of exercising the buy-back clause stands at around £17million.

Previous Leeds owners have also vowed to reclaim the historic stadium but have been unable to fund the deal.

However, Radrizzani, who bought out Massimo Cellino’s 50 per cent stake in the club this week, has been actively working over the last six months to deliver on the promise that he made when he first assumed a half-share of the club in January.

“In the bigger picture we are working on buying back the stadium which could happen in a few months, maybe by the end of the summer,” Radrizzani said.

“I’m very active already. It’s not that I’m kicking in today. I’ve been kicking in for a long time. With Massimo, in this period he let me work on the future. I wasn’t really involved too much in the day to day football. I could work to prepare for my time and my time is here.

““The club has to pay higher rent on Elland Road every year. We don’t know at the moment if it will be the club (who buy the stadium), me financing the club to do it or buying the property with another vehicle but the club for sure will be lighter and there will be a lot of cost-cutting by bringing the asset within my group, rather than a third-party owner.”

Radrizzani has also stated that he intends to tie manager Garry Monk down to a new contract.

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