Leeds United have confirmed Italian businessman Andrea Radrizzani has completed his takeover of the Championship club on Tuesday, 23 May.
Radrizzani purchased 50% of the stake in the club through his company Aser Group Holding in January. The 42-year-old has now taken full control of the club after purchasing the remaining 50% of shares from co-owner Massimo Cellino on Tuesday. Following the takeover, Radrizzani became Leeds chairman with immediate effect.
A statement on Leeds' official website read, "Andrea Radrizzani has completed his takeover of Leeds United. Andrea Radrizzani also becomes chairman of Leeds United with immediate effect."
Radrizzani, who expressed his delight after taking full control of the club says he wants the club to "move forward to the next level." He also explained what attracted him to take over Leeds.
"I am delighted to have the opportunity to become a custodian of this great football club," Radrizzani told Leeds' official website.
"The heritage and history of Leeds United attracted me to the club and having spent time at games and at Thorp Arch, I can see that we are ready to move forward to the next level.
"This is a long-term commitment, there is a lot of hard work ahead of us and I am aware of my responsibilities as owner of Leeds United. I can assure all supporters that everyone at this club will be doing all we can to build a successful team at Elland Road."
Meanwhile, Radrizzani also thanked Cellino and hailed the latter for steering the club through a difficult situation.
"Massimo has been incredibly supportive throughout the investment process and I am grateful that he has afforded me the opportunity to purchase Leeds United," he said.
"We have had a positive 12 months and I am inheriting a club with a good squad and talented, hardworking staff.
"Massimo acquired a club in a difficult financial situation but he has created a sound platform for me to take Leeds United forward into a new era. On behalf of everyone at the club, I would like to thank Massimo for his support and I wish him well for the future."
Leeds failed to seal a promotion to the Premier League. They even failed to make it to the playoffs as they finished seventh in the Championship table. The Whites will be pushing hard next season in order to make it to England's top flight club competition in the 2018/19 season.