Massimo Cellino confirms Leeds United are debt free
Squawka 11/7/14
By Amitai Winehouse
Massimo Cellino has confirmed to Adam Pope of BBC Radio Leeds that Leeds United are now debt free, a stunning turnaround from the situation when he bought the club, when it was losing over a million pounds monthly.
He has also told the journalist that the club has £20 million in working capital to function with, defined as money that is available to the club to work with.
This is completely aside from the money from the Ross McCormack sale, thought to be around £11 million, which Cellino never factored in to the budget for the season ahead. Leeds have also confirmed the signings of Soulemayne Doukara andJonathan Rossini, who was recently pictured in training.
Leeds are currently undergoing a training camp in Val Gardena, Italy, where they faced a local amateur side last night to kick off their pre-season campaign. Leeds stormed to a huge victory, beating the side 16-0, with Matt Smith, who has recently been linked to Millwall, scoring a stunning six goals. Noel Hunt also bagged a first half hat-trick.
By Amitai Winehouse
Massimo Cellino has confirmed to Adam Pope of BBC Radio Leeds that Leeds United are now debt free, a stunning turnaround from the situation when he bought the club, when it was losing over a million pounds monthly.
He has also told the journalist that the club has £20 million in working capital to function with, defined as money that is available to the club to work with.
This is completely aside from the money from the Ross McCormack sale, thought to be around £11 million, which Cellino never factored in to the budget for the season ahead. Leeds have also confirmed the signings of Soulemayne Doukara andJonathan Rossini, who was recently pictured in training.
Leeds are currently undergoing a training camp in Val Gardena, Italy, where they faced a local amateur side last night to kick off their pre-season campaign. Leeds stormed to a huge victory, beating the side 16-0, with Matt Smith, who has recently been linked to Millwall, scoring a stunning six goals. Noel Hunt also bagged a first half hat-trick.