Leeds United owner secures deal to take over troubled Sampdoria

Sampdoria, which has just been relegated from Serie A for the first time in over a decade, said the deal entails a cash injection of up to 40 million euros ($44 million) to shore up the Genoa-based club’s finances.

FILE PHOTO: Andrea Radrizzani, the Leeds United chairman and owner. | Photo Credit: Getty Images

Troubled Italian football club U.C. Sampdoria said its shareholders have approved a restructuring plan, a move which paves the way for a takeover by Leeds United owner Andrea Radrizzani and his partner Matteo Manfredi.

Sampdoria, which has just been relegated from Serie A for the first time in over a decade, said the deal entails a cash injection of up to 40 million euros ($44 million) to shore up the Genoa-based club’s finances.

Hard-hit by the pandemic, Sampdoria has been for sale for over a year as part of a process aimed at repaying creditors of the club’s former chairman and owner, who has been involved in a case of alleged bankruptcy.

A trustee has been looking after the sale process, with Lazard acting as advisor.

Radrizzani and Manfredi’s proposal won out over a rival bid by Lille’s owner Alessandro Barnaba, the club previously said.

Sampdoria enjoyed their heyday in the early 1990s when the Genoa-based club secured their sole national title with a team led by outstanding strike partnership Gianluca Vialli and Roberto Mancini.

Leeds United also suffered relegation from England’s Premier League last weekend.