(Bloomberg) -- 49ers Enterprises has reached an agreement with Aser Ventures to buy English football team Leeds United, according to a statement from the club. 

Andrea Radrizzani, Leeds’ chairman and owner of Aser Ventures, is selling his majority stake to 49ers Enterprises, which were already minority owners of Leeds, the BBC reported. 

The club is set to play in the Championship division — England’s second-tier table — after being relegated from the Premier League this year. “All of our focus remains on a quick return to the Premier League,” the club said in its statement. 

The world’s most popular sport has become a hunting ground for elite buyout firms and alternative asset managers, as well as sovereign-backed investment firms. 

Read more: The Great Billionaire Takeover of Europe’s Football Giants

Football clubs from AC Milan to Newcastle United have changed hands over the past few years, while Abu Dhabi-backed Manchester City is close to becoming the first ever state-sponsored winner of the Champions League.

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