Aser Group Holding have completed their investment in Leeds United.
Leeds United have today confirmed on their official website that Aser Group Holding have completed an investment in the club, purchasing a 50% stake in the company.
The Whites have been through almost three years of chaos under Massimo Cellino's ownership, which has seen the Italian dispose of six managers.
With Cellino now banned for 18 months for breaking Football League regulations over the sale of Ross McCormack to Fulham in 2014, rumours have surrounded the ownership at Elland Road.
Italian businessman Andrea Radrizzani has been spotted at Elland Road on a number of occasions this season, and the 42-year-old media mogul has now invested in the club.
General view inside Elland Road
Leeds have confirmed on their official website this afternoon that Aser Group Holding – headed up by Radrizzani – have purchased a 50% stake in the club, with Cellino able to retain a stake in the company.
After completing the deal, Radrizzani stated that he is delighted to have struck an agreement, and can't wait to tackle the challenge at Elland Road, admitting that he will work closely with Cellino to take the club forward.
Radrizzani added that he has been 'very impressed' with the work done by Garry Monk this season, and he intends to meet Monk and the staff at Leeds in the near future.
Leeds owner Massimo Cellino
"I am delighted and proud to have acquired a 50 per cent stake in such a prestigious football club as Leeds United. I am excited by the challenge ahead and I will work alongside Massimo and everybody at the club to make Leeds United as successful as possible,” said Radrizzani.
"I am fully aware of the great heritage and traditions of Leeds United and I will endeavour to be a fitting custodian on behalf of the many thousands of Leeds supporters, who are the lifeblood of the Club. I am making a long-term commitment to Leeds United and will work to bring stability through ongoing investment. I aim to bring sustainable growth. I won't do anything that will put the Club's future at risk.”
"I am very impressed the job Garry Monk has done this season and I will do all I can to support him and the team moving forward. The responsibility is on myself, Massimo and the executive management at the Club to work together over the coming months to provide the best platform and environment for Garry and the team to achieve success. My immediate priorities over the coming weeks are to meet with Garry and the team; the Club staff at Elland Road and Thorp Arch; supporters' representatives; former players and media,” he added.
Additionally, Cellino spoke to the club's official website, stating that he felt the best way to take the club forward was to bring in a new partner in Radrizzani.
Cellino praised Radrizzani for bringing 'new energy' to the club, and feels that giving him 50% of the club was the best decision Leeds could have made.
“I have worked hard for the past three years for Leeds United, we are a massive club, and I feel the only way we can get better is for me to bring in a new partner”, said Cellino.
“Andrea is young and brings a new energy with him, as well as having a good experience in the football media business, which is the future for all clubs. I feel that bringing Andrea in as a 50% shareholder to work with me is the best choice we could have made. We will continue building a strong and healthy football club for the future,” he added.
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