(Bloomberg) -- 49ers Enterprises, the owners of Leeds United Football Club, sold a minority stake to a part-owner of an NHL team and is considering another investor to help their promotion push back to the Premier League.
Ackerley Partners, a private holding company for the Ackerley family that also owns a stake in the Seattle Kraken, bought a minority stake in Leeds United, according to a statement seen by Bloomberg. Ackerley Partners, which acquired the holding in the summer, said it will provide strategic capital to expand the football and commercial operations of the club.
The 49ers, who also own the San Francisco-based National Football League team, assumed full control of Leeds in July after buying out Andrea Radrizzani. A minority stake is also currently available for a potential investor, but any sale is not guaranteed to take place, the people said, asking not to be named discussing private information.
A spokesperson for the 49ers and Leeds United declined to comment.
Three teams get promoted at the end of the season to England’s top tier. Leeds currently stand in third position, with the top two positions guaranteeing promotion and the third to sixth-placed teams taking part in a play-off process. Broadcast income in the Premier League is more than £100 million per club per season, considerably higher than it is in the second tier.
As a result of Ackerley’s involvement, there is investor participation from a number of athletes, including Cliff Avril, James Dayson, David Forst, Cameron Hewes, Jed Kaplan, Alex Smith, Malcolm Smith, and Brady Quinn.
--With assistance from Ira Boudway.
(Adds timing of stake purchase in second paragraph.)
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