Leeds United: Cellino’s takeover faces final challenge
Yorkshire Evening Post 10/2/14
Massimo Cellino’s takeover of Leeds United is facing a final challenge from a competing group of buyers who want the Football League to force Gulf Finance House to seriously consider their own bid for the club.
In what appears to be a last throw of the dice, the Mike Farnan-led Together Leeds consortium are to submit an offer direct to the Football League in the hope that the governing body will instruct GFH to open formal talks with them.
GFH, the Bahraini bank which has owned United since 2012, is ready to sell a majority stake in Leeds and has committed itself to a deal with Cellino, the Italian businessman who controls Serie A club Cagliari.
Cellino and GFH exchanged contracts on Friday, 24 hours after he made the first of a series of staged payments agreed as part of his 75 per cent buy-out, and Cellino is expected to attend United’s game at Brighton on Tuesday night with he and his associates confident of sealing their takeover before the end of this week.
The Miami-based 57-year-old is due at a Football League hearing on Wednesday (Feb 12) where the governing body’s board will consider whether or not to sanction his £25m purchase of Leeds.
Massimo Cellino’s takeover of Leeds United is facing a final challenge from a competing group of buyers who want the Football League to force Gulf Finance House to seriously consider their own bid for the club.
In what appears to be a last throw of the dice, the Mike Farnan-led Together Leeds consortium are to submit an offer direct to the Football League in the hope that the governing body will instruct GFH to open formal talks with them.
GFH, the Bahraini bank which has owned United since 2012, is ready to sell a majority stake in Leeds and has committed itself to a deal with Cellino, the Italian businessman who controls Serie A club Cagliari.
Cellino and GFH exchanged contracts on Friday, 24 hours after he made the first of a series of staged payments agreed as part of his 75 per cent buy-out, and Cellino is expected to attend United’s game at Brighton on Tuesday night with he and his associates confident of sealing their takeover before the end of this week.
The Miami-based 57-year-old is due at a Football League hearing on Wednesday (Feb 12) where the governing body’s board will consider whether or not to sanction his £25m purchase of Leeds.
