Excl - Andrea Radrizzani signed an agreement in principle to use Leeds United's Elland Road stadium as security for a £26m bank loan to help buy Sampdoria.
Story @TheAthleticFC w/ @AdamCrafton_
https://theathletic.com/4568028/2023/06/01/leeds-elland-road-sampdoria-radrizzani/Sources have told @TheAthleticFC that 49ers Enterprises, Leeds CEO Angus Kinnear and Aser executive Massimo Marinelli, who is also an LUFC board member, were not aware of the proposed loan or ER's involvement in it. #lufc
As of now, unclear the extent to which the loan progressed beyond a signed heads of terms agreement. No charge has been registered at companies house, so it is possible that the funding has been secured differently.
But remarkable Leeds chairman would offer to use club’s stadium as security for potential loan to buy different club. Radrizzani told @TheAthleticFC “what Aser Ventures does with its assets… including Leeds and Elland Road.. it's none of your business.”
Beyond that, Radrizzani did not directly answer our questions, beyond saying: “You are not well informed as the deal has been done by Gestio Capital." Gestio did not respond to a request for comment.
I actually can’t think of many more egregious acts by an owner (in the running of a club) than drawing up terms to offer up the stadium to one club (without informing board members) in the week they are relegated to fund the purchase of another club.
Among the more remarkable replies I’ve received when asking questions…