Leeds United news: Fans to own stake in club after investment deal struck
A deal has been struck for a supporters group to invest in Leeds United.
The organisation Leeds Fans United is to receive a number of ‘special shares’ in the club in return for an injection of cash.
In a statement released by the Championship club on Friday, Leeds said the money would be used to help fund plans for a new training facility and a sports village at Elland Road.
The fan group was set up in 2015 with the intention of getting supporters voices on the board.
Their aim was also to raise £10million to purchase a stake in the club.
Discussions had taken place with former owner Massimo Cellino in 2016 but he withdrew a few days later.
The agreement has now been reached with current majority shareholder Andrea Radrizzani.
A statement on the club website said: “Leeds United are pleased to announce that following a period of constructive dialogue with the supporter investment group Leeds Fans Utd, the two parties have agreed Heads of Terms on introducing supporter investment into the club.
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“The aim of the investment will be to help fund plans to build a new training facility and sports village at Elland Road.
“The investment will secure a new special class of shares ensuring that supporters who commit will have a voice in key heritage decisions. More information will be released in the New Year.”
Source: SportsLatest TS