Leeds United owner Andrea Radrizzani has reached an agreement to sell his stake in the club to 49ers Enterprises, the second-tier English side said Friday.

49ers Enterprises, the investment arm of the NFL's San Francisco 49ers, has been a shareholder at Leeds, recently relegated from the Premier League, since its initial investment in May 2018.

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Over the past few years, its stake increased to 44%, while Radrizzani's Aser Ventures owned the remaining 56%. Leeds said that a purchase has now been agreed.

"Both parties continue to work through the details, and further updates will be provided soon," they said in a statement.

Earlier this season, Radrizzani and partner Matteo Manfredi made a purchase of the relegated Serie A club Sampdoria.

Leeds were relegated from England's top tier after a roller-coaster season under four different managers. They finished second from bottom in the standings on 31 points and will now compete in the EFL Championship next season.

"All of our focus remains on a quick return to the Premier League," the statement added.