With Andrea Radrizzani’s third season as sole owner of Leeds United well underway we take a look back at the story of his takeover thanks to an extract from Dave Tomlinson’s new book, Leeds, Money, and Misery Me: Twenty Years of Hurt, 23 Mistakes and the Tale of TOMA. The book tells the tale of the last two decades, the hopes and dreams of one of the most committed sets of fans in Europe, the men who let them down and abused their trust, the financial albatross that dogged the club, the controversies, legal disputes, faux white knights, and false dawns.
On 12 April 2016 Andrea Radrizzani was taking lunch with some friends, including Kenny Dalglish, before watching Manchester City play Paris St Germain in the Champions’ League. There was some casual chatter about the history of Leeds United and its legacy and how the club was the final true giant in need of reawakening. Anyone who could do that would go down in history.
It was the first time that the Italian businessman had heard anything about United’s potential and his interest was piqued. ‘I love challenges in my life and I love to turn around organisations,’ he promised. A spark was ignited in Radrizzani’s psyche when Dalglish proffered a view about Leeds United, describing them as a club with huge potential. The spark grew into a blaze over the next few weeks as Radrizzani’s plan solidified. The Italian had been contemplating a move into football, eyeing up mid-table clubs in Italy, France, and Spain which offered the opportunity to develop players for future sale.
Radrizzani called Cellino, on the pretence of having an interest from a potential investor from Asia. Hearing this, Cellino opened up, declaring a readiness to sell. He was living alone in Leeds, miles away from his London-based family. He would welcome someone willing to share his burden. Radrizzani was back to him in days, saying, ‘What if I were to invest?’ The United owner beamed with pleasure, responding, ‘Let’s do this together, join me.’
There was an instant connection between the compatriots and Cellino was impressed by the younger man’s verve and energy. He convinced Radrizzani of his belief in the squad, his desire to hand over his baby to someone who cared as much and his insistence on a positive transition. They reached agreement that Radrizzani would buy 50% of the club in January 2017 with the option of securing the remainder if Leeds failed to win promotion.
Radrizzani, an astute businessman born near Milan on 10 September 1974, made himself rich by selling the rights to broadcast football, especially the Premier League, all over the world. He was ready to plunge a sizeable chunk of his wealth into the development of the archetypal sleeping giants. He paid £44.8 million to buy United from Cellino, with the latter banking a profit of £3.5 million.
Remarking almost in resignation that he felt ‘that the only way we can get better is for me to bring in a new partner’, Cellino added, ‘Andrea is young and brings a new energy with him, as well as having a good experience in the football media business. 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.’ Radrizzani secured unencumbered control when United’s end-of-season slump put an end to promotion hopes in 2017. In August of that year Radrizzani claimed that he had sunk £100 million into the project.
Leeds, Money, and Misery Me: Twenty Years of Hurt
By Dave Tomlinson
For the die-hard fans of Leeds United, the last twenty years have brought far too few reasons to be cheerful. Far more prominent are the depressing lows. The lot of the United fan is not a happy one, but still they come, week in and week out, with their fervent chants of ‘Marching on Together’ and ‘Champions of Europe’, hoping that this will finally be the year, but recognising the improbability of that dream. Mistakes were made along the way, and this could have been a very different tale if a wiser course had been followed. But that would have been far, far too simple for the many-headed beast that is Leeds United Football Club! Leeds, Money, and Misery Me tells the tale of the last two decades, the hopes and dreams of one of the most committed sets of fans in Europe and the men who let them down and abused their trust. It is a story that simply must be read, whether you’re a fan of the Whites or not.
He might have shared Cellino’s Italian nationality, but the two had little else in common; Radrizzani’s urbane composure contrasted sharply with the reactionary approach of his predecessor. Radrizzani laid out his ambition, giving himself five years to take the club back to the Premier League. If he failed, he would look to hand over to someone with more resources than he. But he had no intention of a cut and run. Radrizzani had significant ambitions for his new venture. As someone with experience in media rights, he could see a huge change on the horizon in relation to the consumption of media.
Radrizzani was clear that ‘Championship clubs lose money, Premier League clubs make money.’ He modelled his approach on that of Brighton and Hove Albion, where success had been achieved with a series of slow and steady steps on a sustainable budget. It was almost as if Chris Akers had been reincarnated and returned to Elland Road as a much younger man.
Asked about the supporters, Radrizzani said, ‘They were just waiting for someone to build a bridge of communication with the club that was missing…Most of them understand that we are at the beginning of a project. Obviously, they dream big but at the end of the day we have to be realistic about what we can do and if we cannot make it this year we work harder to make it next year.’
Radrizzani planned to re-establish bonds with the local community after years of stand offs and tension. ‘We have been engaging with the community, the city council, the fans, the foundation. Everyone is now together,’ he said. ‘The supporters have been very positive generally and I just wish and hope this positivity remains in the time when some weekends we are sad, because we need their support. And for sure football is up and down.’
To read more of the tale of Leeds United over the last two decades, the hurt, mistakes and takeovers check out Leeds, Money, and Misery Me: Twenty Years of Hurt, 23 Mistakes and the Tale of TOMA by Dave Tomlinson