Massimo Cellino has been granted approval to complete the purchase of a
majority stake in Leeds United.
The approval, which came via appeal after being initially turned down by
the Football League, will see Eleonora Sport take a 75% stakeholding in
the club while former majority shareholders GFH Capital and investors
will retain 25%.
Completion of the acquisition will see Massimo Cellino take up the
position as President of Leeds United, and he will head up a new-look board.
The club’s managing director David Haigh will become Chief Executive
Officer, and he paid tribute to all parties involved in the deal.
Haigh said: “This is a significant day in the history of Leeds United.
Since GFH Capital took over the club in December 2012, the stated aim
has always been to introduce strategic investors to ensure a sustainable
future for the club.
“I have met with many potential investors and worked closely with them,
and I realised very quickly that Massimo is someone who has the
attributes to take this club forward. He has a proven track record in
Italy, and I believe the introduction of Eleonora Sport, coupled with
Massimo’s drive and determination, will be key to a successful and
sustainable future for this great football club.
“I’d like to thank the Football League, GFH Capital, and of course,
Massimo and Eleonora Sport for all their hard work over the past few
weeks in ensuring that this deal was able to progress.”
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John 'Grampa' Sykes
Rest In Peace old lad
28th Oct 1938 - 12 Nov 2013
MARCHING ON TOGETHER
