From an article (http://www.fansnetwork.co.uk/football/leedsunited/news/42199/?:
"This legacy of debt explains why Cellino is refusing to repurchase Elland Road 
and Thorp Arch until he gains complete control of the club of GFH make a 
contribution, as the acquisition would have to be in the name of the club and 
Cellino isn’t going allow the value of GFH’s minority stake to increase if he 
has to fund the stadium purchase himself."

Couldn't Cellino just privately buy the ground and Thorp Arch and "rent" back 
to the club and therefore bypass GFH?
Nick
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