Italian Cellino Family Set for Leeds United Takeover

Leeds United are close to being taken over by the Italian Cellino family after an agreement was made with the current owners.

In a statement on the club’s website on Saturday, GFH Capital confirmed they have agreed to sell a 75 per cent stake in United to Eleonara Sports Ltd, the Cellino family’s company.

Cellino, the owner of Serie A side Cagliari, has had a delegation in Leeds for the last week to prepare for the takeover and he was present at Elland Road for Saturday’s derby with Huddersfield.

His influence became further apparent on Saturday morning when Cagliari announced on their website that playmaker Andrea Tabanelli has been loaned to Leeds.

Cellino – an agriculture tycoon known as ‘The King of Corn’ in Cagliari – still has to pass the Football League’s Fit and Proper Person Test and that is not a given as he has previous conviction for fraud.

If he fails it, a consortium headed up by former Manchester United director Mike Farnan is standing by.

Farnan tweeted: “We continue to seek dialogue and have substantial backing with offers of support increasing by the minute.”

In a statement at lunchtime on Saturday, GFH said: “Following recent media reports and speculation, GFH Capital would like to confirm that it has agreed to sell a 75 per cent stake in the club to Eleonora Sport Ltd, a company owned by the Cellino family who have many years’ experience in football and who plan to invest substantially in the club including the re acquisition of Elland Road.

“Eleonora will be working on completing the required Football League approval.

“The Cellino Family is a well-known Italian sports family, who have owned Serie A side Cagliari since 1992. They come to English football with an ambition to support Leeds United financially to take it to the Premier League and a belief that the club can sustain top-flight status.

“Since the agreement, Leeds United is in discussion with Elenora Sport Ltd. on a number of issues concerning the club matters including the structure of the management of the first team.”

Leeds are currently 12th in the Sky Bet Championship and are eight points off the play-off places.