The Old Peacock Ground has been Leeds’ home since 1919 and the announcement will see the stadium return to the club for the first time since it was sold in 2004, during a period of financial difficulty.
Speaking on the acquisition, club Owner and Chairman Andrea Radrizzani, said on the official Leeds United website: “Today is an important day in our history and a proud day for me and my team.
“When I met with both management and supporters during my first few months at the club, the purchase of Elland Road was very high on their list of priorities and I'm delighted to be able to announce that we have completed that process today.”
Leader of Leeds City Council, Councillor Judith Blake also commented on the purchase of Elland Road, stating: “It is fantastic news that the club have confirmed the buy-back of Elland Road Stadium.
“This is an extremely positive step in the right direction for everyone associated with Leeds United and especially the club’s tremendous and loyal fans.
“As we prepare for the new season to begin in August, I very much welcome the intent being shown by Andrea to move the club forward with real purpose and ambition.”
Work to improve and update Elland Road has already begun and will be completed by the start of the season.