Leeds United have confirmed they paid £34million to acquire Elland Road ahead of the club’s plan to extend the 37,890-seater stadium under the 49 Enterprises.
Paraag Marathe has announced his intention to upgrade the stadium to around 53,000 spectators. It’s understood that work will be done on the West Stand as well as the South Stand and North Stand.
Following the update that the extension will come, Marathe told supporters to expect further updates in due course. On Wednesday, the Whites announced their financial accounts for the 2023/24 campaign, recording a revenue of £127.6m.
Within the 34-page document, Leeds provided further clarity on their plans to extend Elland Road. On page 33, under ‘Acquisition of Elland Road Limited’, it reads how over £34.5m was paid to purchase the stadium under the ownership.
In July, the Whites took ownership of the stadium 20 years after it was sold during the financial difficulty in 2004. In 2017, the stadium was purchased by Greenfield Investment Pte Ltd, which was the parent company of Leeds at the time.
The ownership of the stadium then transferred to Elland Road Limited at the end of 2020. After the 49ers Enterprises assumed full control of the football club and Elland Road Limited, the ownership of the stadium was confirmed in July.
