(Reuters) - Championship team Leeds United have bought back Elland Road, 13 years after selling their home stadium to reduce debts during a financial crisis, the Yorkshire club have announced.
Elland Road has been Leeds’ home ground since 1919 but the club sold their stadium in 2004, signing a 25-year lease with a buy-back option. The ground was then sold to British Virgin Islands-based Teak Trading Corporation in 2005.
“Leeds United are delighted to announce that Greenfield Investment Pte Ltd, an Aser Group company and parent company of Leeds United Football Club Limited, has completed the purchase of Elland Road Stadium,” the club said on their website (www.leedsunited.com).
Leeds’ chairman Andrea Radrizzani, who became the owner after completing a takeover in May, announced his intention of buying Elland Road soon after his appointment.
“Today is an important day in our history and a proud day for me and my team,” Radrizzani said.
“When I met with both management and supporters during my first few months at the club, the purchase of Elland Road was very high on their list of priorities and I’m delighted to be able to announce that we have completed that process today.”
Leeds finished seventh in the Championship last season and appointed new manager Thomas Christiansen earlier this month with the hopes of gaining promotion to the Premier League next campaign.
Reporting by Aditi Prakash in Bengaluru; editing by Amlan Chakraborty