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49ers ownership group reaches agreement to take over Leeds United

LEEDS, England -- 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.

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."

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.

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."

Copyright by The 2023 Associated Press