League Championship side Leeds United bought back Elland Road stadium, 13 years after "being forced to sell it" during the organization's financial crisis, according to Paul Cockerton of the London DAILY MIRROR. The club announced the agreement with Teak Commercial Ltd., a firm based in the British Virgin Islands and owner of Elland Road since '04, on Wednesday. The 98-year-old stadium is "now owned by Greenfield Investment," the parent company of Leeds United Football Club Ltd. Leeds United Chair Andrea Radrizzani said, "Today is an important day in our history and a proud day for me and my team" (DAILY MIRROR, 6/28). In London, David Wright reported Elland Road was sold in '04 for £8M during Leeds' financial crisis which saw the former English champion "spiral from the Champions League into the third tier of domestic football." But Radrizzani "made the ground's purchase a priority after taking control of the club." He said, "When I met with management and supporters during my first few months at the club, the purchase of Elland Road was very high on their list of priorities." Building work is "already under way on the West Stand and will be completed for the start of the season," the club said (EXPRESS, 6/29). The PA reported Leeds United said that the savings on "considerable" rental fees will be redirected toward "the first-team squad, academy and improvements to the stadium." Leader of Leeds City Council Councillor Judith Blake said, "This is an extremely positive step in the right direction for everyone associated with Leeds United and especially the club's tremendous and loyal fans" (PA, 6/28).
POPULAR MOVE: BBC Radio's Katherine Hannah commented many previous owners "have talked about buying back Elland Road and making it their priority." But until now -- "for various reasons" -- it has never happened. For Radrizzani to state his intention of buying back Elland Road, and "actually deliver it so soon into his ownership, will be an incredibly popular move." It is a "matter of pride" for fans of Leeds United for the club to regain control of the stadium. They do not want to see "huge sums being paid out to rent their own ground when that money could be invested elsewhere" (BBC, 6/28).
