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The truth about a full Red Bull takeover of Leeds United as deals activated
When it was announced that Red Bull had bought a minority stake in Leeds United, many speculated that the company was eyeing a full takeover further down the line.
Exactly how much the Austrian energy drinks giant has purchased in the club is not known, but German media have reported it is around 10 per cent.
Red Bull were quick to guarantee that, unlike their other investment ventures in sport, Leeds would retain their own unique identity and colours as part of the deal.
The new minority investors have also pumped around £8m into Leeds as part of a new front-of-shirt deal, which is a record for a Championship club.
The investment arm of the San Francisco 49ers, 49ers Enterprises, took full control of Leeds from Andrea Radrizzani last summer.
The NFL giants have signalled they are in for the long haul by buying back land from Radrizzani that would potentially allow Leeds to expand Elland Road.
However, that has not stopped speculation that Red Bull may one day wish to up their stake in the West Yorkshire club.
But the latest flurry of activity has given a signal of what the long-term ambitions of Red Bull really are.
Red Bull strike four new deals
It is a highly unusual situation for the co-owner of a top English club like Leeds to directly fund potential rivals via sponsorship.
But that is exactly what Red Bull have done in recent weeks, striking commercial deals with Newcastle United, Everton, West Ham and, most recently, Crystal Palace.
There has been situations in which businesses have sponsored clubs only to then take over another, such as when Sir Jim Ratcliffe’s INEOS sponsored Tottenham before he bought 27 per cent of Man United.
But the same very rarely happens in reverse.
And Red Bull’s sudden push to get involved in Premier League football with multiple multi-year sponsorship deals indicates that they are unlikely to up their stake in Leeds any time soon.
Red Bull’s Leeds masterplan
So if Red Bull’s long-term plan is not to take over Leeds, what is it? What can they get out of investing formally in Leeds that they can’t from a sponsorship deal with Newcastle, Everton, Palace or West Ham?
Yes, the front-of-shirt arrangement with Leeds gives them far more exposure than the official energy drinks partnerships that they have struck with the Premier League quartet.
But Red Bull could quite easily sponsor another Premier League club’s shirt without having to buy equity in the club itself.
It could be that Red Bull have their eye on something bigger at Leeds, such as naming rights for a revamped Elland Road.
This is speculation, but it is hard to see why else they would want to buy into Leeds, unless they see the club as a straightforward capital appreciation project AKA buy low, sell high.