YOUNGSTOWN, Ohio (WKBN) – Leeds United has announced that a deal has been reached by owners Aser Ventures to sell the club to the DeBartolo-owned 49ers Enterprises on Friday night.

In 2021, the DeBartolo’s increased their share of the club to 37%, up from 15% from their original investment in 2018.

According to multiple reports, the two sides have been in negotiations on a full takeover deal.

The club released the following statement: “Leeds United can confirm an agreement has been reached between Aser Ventures and 49ers Enterprises for the purchase of the club. Both parties continue to work through the details, and further updates will be provided soon. All of our focus remains on a quick return to the Premier League. Thank you for your continued support. Marching on Together.”

Leeds United was just relegated from the Premier League (England’s highest soccer division) down to the Championship.

Each season, three teams from the Championship are promoted to the Premier League, with massive financial ramifications.

The Athletic reports the takeover is valued at $214 million.

Youngstown native Denise DeBartolo is the chairman of the 49ers with son and Cardinal Mooney grad Jed York the team’s CEO and President.