Leeds United Confirm Massimo Cellino Sale

Massimo Cellino is set to receive a 75 per cent stake in Leeds United after the Championship club confirmed the deal, subject to Football League approval.

In a statement on the club’s website, the current owners GFH Capital confirmed that they will retain a 25 per cent stake in the club and Salah Nooruddin will remain as chairman with David Haigh staying on as chief executive officer.

The Cellino family’s company, Eleanora Sport Limited, will be the new owners, provided the Football League rubber-stamps the deal.

Cellino still has to pass the Football League’s ‘fit and proper person test’ at a hearing next week.

The Italian, who is trying to sell Cagliari, his Serie A club, has a colourful past. The 57-year-old agricultural entrepreneur has twice been convicted of fraud and is awaiting trial for allegations of embezzlement – a charge he denies.

The GFH statement said: “The Board has always had as its principal aim the creation of a long term ownership structure through partnership with sound and strategic investors to build on the foundations we have laid for sustainable success for this great club.

“We believe we will have achieved that with this deal. It provides the basis from which Leeds United can move forward to a position which will enable it once again to compete at the highest levels of football.

“That is where this great club belongs and it is nothing less than its fans deserve. Throughout the difficult years, as well as the glory years, they have remained second to none in their support of the club and we as a Board have always appreciated their passion.

“Following the introduction of GFH to the Cellino family which owns Eleonora Sport Limited it quickly became apparent that the family and the company offered both the long term investment and the footballing knowledge necessary to take their place as majority owners of Leeds United FC.

“Everyone on the Board is looking forward to working with our new partners who we hope will be in place at Elland Road very soon.”