This summer, the Italian is anticipated to sell his ownership part in the Premier League side that was demoted.
Sampdoria in Italy has been acquired by a group led by Andrea Radrizzani, chairman of Leeds.
Late on Tuesday night, the primary owner of Leeds, Radrizzani's Aser Group, and the banking firm Gestio Capital announced they had reached an agreement to save struggling Sampdoria.
Radrizzani stated in a statement posted to Gianluca Di Marzio, an Italian reporter for Sky Sports, on social media: "We are beyond happy to be able to announce that we have completed the acquisition of this magnificent club.
"Sampdoria's heritage and coat of arms are secure, and I believe that my joy is for all the people who suffered because of these colors.
"At this time, I would especially like to express my gratitude to everyone who worked tirelessly to see that this accord came to a just end.
And I want to express my sincere gratitude to Matteo (Manfredi, the principal of Gestio Capital), as well as to the attorney De Gennaro.
"None of this would have been possible without them. We go forward starting today, and I am eager to get to work.
Radrizzani, who paid £45 million for Leeds in 2017, is anticipated to transfer his 56% ownership interest to American co-owners 49ers Enterprises.
With an agreement in place to purchase Radrizzani's stock and acquire full control before January 2024, the financial arm of NFL team the San Francisco 49ers upped its stake in Leeds to 44% by the end of 2021.
It has been said that 49ers Enterprises is eager to acquire Elland Road this summer, but the purchase was reliant on Leeds staying in the Premier League, so it is unclear how relegation will impact a potential change of ownership there.
In their final game of the season on Sunday, Leeds fell to Tottenham 4-1 at Elland Road, ending their three-year run in the top division.
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