The Den

Next Game

Millwall v Leeds

Saturday, 09 August 2014, 15:00

Sky Bet Ch'ship

Proact Stadium

Last Game

Chesterfld 2 - 2 Leeds

Saturday, 26 July 2014, 15:00

Friendly Match

Cellino takeover is 'done'

Italian businessman Massimo Cellino has completed his takeover of Leeds United, according to his lawyers.

Last Updated: 08/04/14 at 21:47 Post Comment

Massimo Cellino: Awaits ratification from the Football League

Massimo Cellino: Awaits ratification from the Football League

Free £50 bet

Daily Offers and Promotions, sign up for a free £50 matched bet

Cellino's company Eleonora Sport Limited has completed its purchase of 75 per cent of the Elland Road club's shares and the 57-year-old has taken his place on the board of directors.

Football League officials must now decide whether to ratify the deal at a board meeting on Thursday.

"Massimo Cellino has now been appointed a director of LUFC Holdings & ESL has completed its purchase of 75 per cent of the shares of LUFC Holdings," Cellino's legal representatives Mishcon de Reya tweeted.

Cellino arrived in England from Sardinia on Monday after an independent lawyer overturned the League's decision to bar him from becoming an owner.

The League had blocked Cellino's takeover on March 24, ruling a conviction of tax evasion in a Sardinia court a week earlier - one Cellino is appealing - disqualified him under its owners and directors test.

But following six-hour deliberations at an appeal hearing last week, Tim Kerr QC announced he had revoked the League's decision.

Kerr's ruling ended a two-month wait for Cellino, whose company had exchanged contracts with previous Leeds owner Gulf Finance House Capital back in February, but the saga may not yet have run its course.

The Italian's disqualification under the League's test related to the non-payment of import duties on his yacht, but because a judge's report on his tax evasion case has not yet been filed, Kerr could not rule that he had acted dishonestly.

Dr Sandra Lepore's written reasons for the conviction are due by mid-June so League officials must decide on whether to give Cellino the go-ahead in the knowledge they could be forced to disqualify him - should he be found guilty of dishonesty - later this summer.

Leeds, who have plummeted in the Championship table and lost 1-0 to Wigan Athletic on Saturday, announced losses of £9.5m for the financial year 2012-13.

Free £50 bet

Daily Offers and Promotions, sign up for a free £50 matched bet

Related News

Most Commented

Readers' Comments

I

think all those names linked to United exits make sense. Kagawa has never really looked like hitting the form he had at Dortmund and Fellaini is radioactive after last season (even though I think he's been unfairly singled out for criticism). Nani and Anderson have had more than their fair share of chances so they are done, and Hernandez deserves better than warming a bench.

ted, manchester
The Insecure Gossip

H

e'll be off to Spurs (or better) in January and I don't blame him. Looking forward to re-signing Grant Holt as his replacement though.

notalentjones
Benteke ignoring speculation

I

n fairness, he does look absolutely shattered in that photo.....

FairyNuff
Shaw told to shape up

Footer 365

Premier League: Yaya Toure happy to stay at Manchester City

Yaya Toure has reaffirmed his commitment to Manchester City, insisting he wants to stay for "as long as possible".

Champions League: Henning Berg hopeful of Legia Warsaw's chances against Celtic

Legia Warsaw boss Henning Berg hopes his side can get a positive result against Celtic in their Champions League tie.

Premier League: Ross Barkley signs new four-year contract at Everton

Everton midfielder Ross Barkley has signed a new four-year deal with the club.

Mail Box

Youth Development Has To Be The Future

A varied Mailbox has thoughts on transfer targets, youth development, the obsession over 3-5-2, some innovative Blackpool suggestions and why Real bought Kroos...

Don't You Worry About Southampton...

We can't help but agree with one mailboxer who tries to calm the crisis-mongers gathering around Southampton, while we have mails on Man United's squad...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property