Troubled Italian soccer club Sampdoria said its shareholders have approved a restructuring plan, a move which paves the way for a takeover by Leeds United owner Andrea Radrizzani and his partner Matteo Manfredi.

Sampdoria, who were relegated from Serie A this season for the first time in over a decade, said the deal entails a cash injection of up to €40 million to shore up the Genoa-based club's finances.

To finalise the takeover, the restructuring plan needs final approval from the club's creditors, a source close to the matter said, adding that talks with them were ongoing.

Hard-hit by the pandemic, Sampdoria have been for sale for over a year as part of a process aimed at repaying creditors of former chairman and owner Massimo Ferrero, who has been involved in a case of alleged bankruptcy.

A trustee has been looking after the sale process, with Lazard acting as advisor.

Radrizzani and Manfredi's proposal won out over a rival bid by Lille's owner Alessandro Barnaba, the club previously said.

Sampdoria enjoyed their heyday in the early 1990s when the Genoese club secured their sole national title with a team led by the outstanding attacking pair Gianluca Vialli and Roberto Mancini, also known as "the goal twins."

Leeds United also suffered relegation from England's Premier League last weekend.