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'Huge' - Kieran Maguire reveals how 49ers will use new Leeds United cash
The 49ers will likely use new cash raised at Leeds United to invest in Elland Road and expand the stadium’s capacity.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that there is ‘no concerns’ over the 49ers selling part of their Leeds United stake early on in their ownership.
As reported by Bloomberg, the 49ers sold a minority stake in Leeds to Ackerley Partners – the part-owners of NHL team Seattle Kraken – this summer.
Football Insider revealed on Thursday (23 November) that the Yorkshire club are also set to open talks with new US investors over another minority sale.
As a result of their stock sales, the 49ers now have cash available to invest in the playing squad and club infrastructure.
Maguire believes the 49ers may look to begin the expansion of Elland Road to a capacity over 50,000 after raising funds through minority investors.
“There should be no concerns over this,” Maguire told Football Insider’s Sean Fisher.
“The 49ers Enterprise have had a strategy since acquiring control of the club.
“They are looking to diversify the ownership portfolio to either bring in more money to recover what they paid to Radrizzani or alternatively, to provide funding for infrastructure costs.
“Leeds have a huge fan base and they ideally need a 50,000-plus capacity stadium which is fit for the 21st century.
“While Elland Road is a fantastic stadium with a fantastic atmosphere, in terms of the prawn sandwich perspective they need an upgrade to hospitality sectors.
“That’s where the money is in football these days.“
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