Wednesday 4 January 2017 23:35, UK
Italian businessman Andrea Radrizzani has bought a 50 per cent stake in Leeds United from Massimo Cellino.
Negotiations with current owner Cellino have been ongoing since last summer and Radrizzani has previously indicated he has the option to take 100 per cent control after the end of the season.
He has been impressed with Garry Monk and has promised to do all he can to support the club moving forward.
Radrizzani, who was born in Milan and grew up supporting Juventus, recently sold 65 per cent of his media rights company to Chinese investors for $1 billion.
He told the Sky Bet Championship club's website: "I am delighted and proud to have acquired a 50 per cent stake in such a prestigious football club as Leeds United.
"I am excited by the challenge ahead and I will work alongside Massimo and everybody at the club to make Leeds United as successful as possible.
"I am fully aware of the great heritage and traditions of Leeds United and I will endeavour to be a fitting custodian on behalf of the many thousands of Leeds supporters, who are the lifeblood of the club.
"I am making a long-term commitment to Leeds United and will work to bring stability through ongoing investment. I aim to bring sustainable growth. I won't do anything that will put the club's future at risk.
"Through working in the sports industry for many years, I have developed a great passion for the English game and I am honoured to have become joint owner of one of the country's biggest clubs."
Cellino starts an 18-month ban from all football activity in February, a sanction imposed by the Football Association as punishment for breaching agent rules in relation to the sale of Ross McCormack to Fulham in 2014; he is appealing that decision.
The former Cagliari owner, who has sacked six managers since taking over in 2014 before turning to Monk in June, said: "Andrea is young and brings a new energy with him, as well as having a good experience in the football media business, which is the future for all clubs.
"I feel that bringing Andrea in as a 50% shareholder to work with me is the best choice we could have made. We will continue building a strong and healthy football club for the future."
Rejuvenated Leeds are currently fifth in the Championship, having won four of their last five games, as they look to end a 13-year exile from the top flight of English football
