Official: Leeds United Owner Massimo Cellino Sells Cagliari
Inside Futbol 11/6/14
Tommaso Giulini has been confirmed as the new owner of Cagliari, taking control of the Serie A side from Leeds United owner Massimo Cellino.
A former member of the board at Inter, Giulini has purchased 100 per cent of the shareholding in Cagliari from Cellino, who is determined to put his full focus into helping Leeds earn promotion to the Premier League.
A statement released read: "Today the sale contract was signed to transfer 100 per cent of the shares of Cagliari Calcio to the Fluorsid Group."
The development brings to an end the long-running saga over Cellino's sale of Cagliari, which at one time had seemed certain to end with the Italian side in the hands of a group of American investors.
Cellino would have pocketed over €80m had he chosen to sell to the Americans, but despite holding talks in Miami, eventually opted against the investors, led by Luca Silvestrone, after worrying that they did not have the means to make good on their promises.
The result is a sale to Giulini, which will see the Leeds owner earn around €48m. €8m has already been made as a down payment by Giulini.
In the immediate term, the sale of Cagliari is likely to lead to the departure of the club's sporting director Nicola Salerno.
Salerno, whose contract expires on 30th June, has been linked with both Leeds and Palermo.
Tommaso Giulini has been confirmed as the new owner of Cagliari, taking control of the Serie A side from Leeds United owner Massimo Cellino.
A former member of the board at Inter, Giulini has purchased 100 per cent of the shareholding in Cagliari from Cellino, who is determined to put his full focus into helping Leeds earn promotion to the Premier League.
A statement released read: "Today the sale contract was signed to transfer 100 per cent of the shares of Cagliari Calcio to the Fluorsid Group."
The development brings to an end the long-running saga over Cellino's sale of Cagliari, which at one time had seemed certain to end with the Italian side in the hands of a group of American investors.
Cellino would have pocketed over €80m had he chosen to sell to the Americans, but despite holding talks in Miami, eventually opted against the investors, led by Luca Silvestrone, after worrying that they did not have the means to make good on their promises.
The result is a sale to Giulini, which will see the Leeds owner earn around €48m. €8m has already been made as a down payment by Giulini.
In the immediate term, the sale of Cagliari is likely to lead to the departure of the club's sporting director Nicola Salerno.
Salerno, whose contract expires on 30th June, has been linked with both Leeds and Palermo.
