Football Insider has been informed that Leeds United executives have expedited their plans to extend Elland Road subsequent to obtaining outside funding for the undertaking.
The 49ers Enterprises, who acquired the team in the summer, have reaffirmed their intention to build out the 37,800-seat stadium.
Football Insider reported in July that the 49ers had already developed plans to extend Elland Road.
The expansion will cost more than £100 million to complete and is estimated to expand capacity to about 55,000.
The majority of the added capacity is thought to result from a total renovation of Elland Road’s West Stand.
The 49ers are prepared to use funds obtained from share sales to expedite Elland Road’s expansion, just months after completing their takeover.
The 49ers sold Ackerley Partners a minority ownership this summer, as reported by Bloomberg.
The article states that the shares will “provide strategic capital to expand the football and commercial operations of the club,” but it does not specify how many shares were sold to US investors.
Football Insider has disclosed that Leeds is scheduled to begin negotiations with a different US group regarding a minority investment arrangement, in addition to the Ackerley Partners transaction.
It is acknowledged that funds received from the second minority investment agreement will go toward funding the club’s infrastructure.
The Athletic claims that a 55,000-seat stadium could raise Leeds’ yearly earnings to over £400 million. The extension would significantly improve the club’s matchday revenue.
In other news, Leeds United supporters are shocked by the “mind-blowing” referee error, calling it “absolutely shocking” and “could have broken his leg.”
