49ers Enterprises have agreed a deal to purchase Leeds, the club have confirmed.
The American group - who own NFL franchise the San Francisco 49ers - already owned a 44 per cent stake in the club, but have now agreed to purchase the remaining 56 per cent from chairman Andrea Radrizzani's Aser Ventures.
A brief statement released on Friday night read: "Leeds United can confirm an agreement has been reached between Aser Ventures and 49ers Enterprises for the purchase of the club.
"Both parties continue to work through the details, and further updates will be provided soon. All of our focus remains on a quick return to the Premier League. Thank you for your continued support. Marching on Together."
49ers Enterprises increased its stake in Leeds to 44 per cent in 2021 with the option of buying Radrizzani's remaining 56 per cent before January 2024.
The Americans had been keen to push through a full takeover this summer, but that agreement, which had valued Leeds at around £400m, was contingent on the club remaining in the Premier League.
Leeds' relegation last month forced both parties back into intense negotiations and a valuation of close to £170m has been agreed.
The deal marks the end of Radrizzani's six-year ownership of Leeds. He completed a full takeover from fellow Italian Massimo Cellino in 2017 and initially proved hugely popular.
