San Francisco 49ers to complete Leeds takeover with NBA players Nance, McConnell as minority investors
LEEDS, England (AP) — The San Francisco 49ers ownership group has reached an agreement to take over English soccer club Leeds with NBA players Larry Nance Jr. and T.J. McConnell joining as minority investors.
The NFL team’s investment arm — 49ers Enterprises — originally bought a 15 percent stake from Leeds chairman Andrea Radrizzani in 2018 and increased it to 44 percent in late 2021.
FILE – New Orleans Pelicans forward Larry Nance Jr. (22) reacts after making a basket in the second half of an NBA basketball game against the New York Knicks in New Orleans, Friday, April 7, 2023. The Pelicans won 113-105. (AP Photo/Gerald Herbert, File)
Leeds didn’t specify the sale price for the remaining 56 percent but British media reported it to be 170 million pounds ($214 million).
“Both parties continue to work through the details, and further updates will be provided soon,” Leeds said in a statement Friday. “All of our focus remains on a quick return to the Premier League.”
FILE A San Francisco 49ers player sits on the bench during the second half of an NFL preseason football game against the San Diego Chargers in San Francisco, Thursday, Aug. 30, 2012. (AP Photo/Marcio Jose Sanchez, File)
Leeds will play in the second-tier Championship next season after being relegated from the Premier League.
Nance and McConnell revealed on social media that they’ve joined the ownership group. No financial details were provided.
FILE – Indiana Pacers’ T.J. McConnell plays against the Boston Celtics during the second half of an NBA basketball game, Friday, March 24, 2023, in Boston.(AP Photo/Michael Dwyer, File)
Nance, a forward for the New Orleans Pelicans, wrote on Instagram that he was “absolutely honored to be part of the new ownership group.” McConnell, a point guard with the Indiana Pacers, said he was “humbled and honored.”
