United owner Massimo Cellino has today confirmed that a deal to sell his Serie A club, Cagliari, has been agreed. The buyers are an unnamed American group who are being fronted by Italian businessman, Luca Silverstrone. Cellino, who took over Leeds in April, has been looking to sell the club (Cagliari) he took over back in 1992 ever since he took control of the Elland Road side.
According to BBC Sport Cellino will get an up-front payment of £8.12 million and then an additional £54.4 million once a project to develop the club’s stadium is approved. The deal is expected to be completed by the end of this week.
This is good news for Leeds, in my opinion. He can now put his sole attention into Leeds, a club who he believes can get back to the Premier League in two seasons but have to sort out the finances – something he plans to do. It is believed we are losing around £1 million per month.
Given time Cellino will change it around, he will get it right. Just like Cagliari, he will turn us into a self-sustaining club.