Leeds United owner Massimo Cellino has sold a 50 per cent stake in Huddersfield Town's West Yorkshire rivals to Italian businessman Andrea Radrizzani.
Radrizzani, the 42-year-old sports media tycoon, entered into talks with Cellino in the summer and has acquired 50 per cent of the club through his company Aser Group Holding.
Cellino took full control at Elland Road in September when he bought the minority stake still held by previous owner Gulf Finance House, but could see his connection with the club end in the summer.
Sky Sports News are reporting Radrizzani has the option of buying out the rest of Cellino's share of Leeds in the off-season.
Here is today's statement from Leeds in full:
"Leeds United Football Club today confirms the completion of an investment by Aser Group Holding, through its acquisition vehicle Greenfield Investment Pte Ltd, in 50 per cent of the Club's share capital.
"The agreement is between Massimo Cellino, and Andrea Radrizzani (42), who is founder and group chairman of Aser Group Holding, the successful co-founder of international sports media rights company MP & Silva and a leading figure in the sports media industry over the past two decades."
New owner Radrizzani said: "I am delighted and proud to have acquired a 50 per cent stake in such a prestigious football club as Leeds United. I am excited by the challenge ahead and I will work alongside Massimo and everybody at the club to make Leeds United as successful as possible.
"I am fully aware of the great heritage and traditions of Leeds United and I will endeavour to be a fitting custodian on behalf of the many thousands of Leeds supporters, who are the lifeblood of the club.
"I am making a long-term commitment to Leeds United and will work to bring stability through ongoing investment. I aim to bring sustainable growth. I won't do anything that will put the club's future at risk.
"Through working in the sports industry for many years, I have developed a great passion for the English game and I am honoured to have become joint owner of one of the country's biggest clubs.
"I am very impressed the job Garry Monk has done this season and I will do all I can to support him and the team moving forward.
"The responsibility is on myself, Massimo and the executive management at the club to work together over the coming months to provide the best platform and environment for Garry and the team to achieve success.
"My immediate priorities over the coming weeks are to meet with Garry and the team; the club staff at Elland Road and Thorp Arch; supporters' representatives; former players and media."
