As expected, Cagliari President Massimo Cellino has officially agreed the takeover of Leeds United.
The club website released a statement today with GFH Capital confirming they agreed to sell a 75 per cent stake in the side to Cellino’s company, Eleonora Sports Ltd.
“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 Eleonora Sport Ltd. on a number of issues concerning the Club matters including the structure of the management of the first team.”
Cellino already infuriated supporters by sacking manager Brian McDermott on Friday and there are reports members of the club are trying to have him reinstated.
Gianluca Festa is expected to be appointed as the new manager. Leeds are currently 12th in the Championship, England’s version of Serie B.