The Point Guard Continues to Expand His Portfolio
NBA star Russell Westbrook has made a foray into English professional soccer by officially joining the investment group that is acquiring Leeds United. Westbrook made the announcement during a sports and entertainment summit organized by Sportico. His investment is through 49ers Enterprises, the investment arm of the San Francisco 49ers in the NFL, which recently acquired a majority stake in Leeds from former owner Andrea Radrizzani in June. The exact size of Westbrook’s stake and the timing of his investment remain undisclosed.
.@Russwest44 mentioned on stage at our #VarietySporticoSummit that he is part of the investor group led by the @49ers that is taking over Leeds United pic.twitter.com/q0uYDRVRKj
— Sportico (@Sportico) July 13, 2023
Westbrook Just Signed a New Contract
Earlier this summer, Westbrook signed a two-year, $8 million deal to remain with the Los Angeles Clippers in free agency. This came after the expiration of his previous supermax contract, which he originally signed with the Oklahoma City Thunder. In the 2021-2022 season, Westbrook started with the Los Angeles Lakers before joining the Clippers, where he averaged 15.8 points and 7.6 assists in 21 games.
Westbrook is not the only NBA player to become part of the new ownership group at Leeds United. Last month, New Orleans Pelicans forward Larry Nance Jr. and Indiana Pacers guard T.J. McConnell also purchased minority stakes in the club. Additionally, professional golfers Justin Thomas and Jordan Spieth have joined the ownership group.
The Leeds Value Dropped Following Relegation This Year
According to reports, 49ers Enterprises committed to purchasing Leeds at an estimated valuation of around $213 million. This deal comes after Leeds was relegated from the Premier League earlier this year. If Leeds had managed to stay in the top flight, the club’s valuation would have been much closer to $500 million.
Former owner Andrea Radrizzani previously held approximately 56% ownership of Leeds and had been the majority shareholder since 2017. Radrizzani has since acquired controlling ownership of the Italian club Sampdoria. It is worth noting that 49ers Enterprises initially invested in Leeds in 2018, highlighting their long-standing interest in the club. Westbrook’s involvement adds another dimension to the ownership group, demonstrating the cross-sport appeal and potential for collaboration between the NBA and English soccer.
