Andrea Radrizzani will use the cash generated from Leeds United buying back Elland Road to splash out on new players.
That is the verdict in the Yorkshire Evening Post of former Leeds midfielder David Prutton, who hailed the United supremo for his “sound business decision” to spend £20million on reclaiming ownership of the historic stadium.
Leeds announced on their official website on Wednesday afternoon that the club’s parent company Greenfield Investment Pte Ltd has completed the purchase of Elland Road following 13 years of private ownership.
The deal was immediately greeted with acclaim by supporters as it gives the club far greater financial power and the ability to punch its weight on commercial deals associated with the stadium.
It is also a huge public relations coup for Radrizzani, who took sole ownership of Leeds in May after buying out the remaining 50 per cent share of Massimo Cellino.
The club will spend a reported £20million on taking back control of Elland Road, but will also save £1.7million a year in annual rent payments.
Prutton, who was at Leeds from 2007 to 2010, hailed a smart move from Radrizzani as he explained how it could have far-reaching benefits.
“Buying Elland Road is a sound business decision and when you get to the crux of it, that’s why he’s done the deal,” Prutton explained in the Yorkshire Evening Post. “The PR aspect of the announcement is obviously significant – a massive commitment which every supporter will be delighted about – but Radrizzani is doing this because it makes sense financially.
“He’s hardly going to throw £20m into the air for the sake of a few pats on the back. That’s not how people as successful as him work.
“Aside from anything else, it gets rid of a payment in rent which the club can really do without. I know £1.7m sounds like nothing in football these days but figures like that add up.
“Save on the rent, increase your ticket sales and your income from things like merchandise and corporate deals and you’re potentially talking about a sizeable pile of cash.
“It’s cash you can put into the academy and it’s cash that you can spend on new players. I’m not going to pretend that Radrizzani is a die-hard Leeds fan – and neither is he – but it’s counter-intuitive to spend £20m on the ground and then keep the spare money to himself.”
Leeds have been active in the summer transfer market, with one new senior arrival in place in Mateusz Klich and a number of other deals advanced, with Werder Bremen goalkeeper Felix Wiedwald and Huesca playmaker Samuel Saiz reportedly heading in for medicals in the coming days before sealing permanent transfers.