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.

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4 COMMENTS

  1. I just hope he uses it to help purchase ER, if you want to cut costs “on the books” there’s 2 million in rent saving us about 170k a month or a fifth of what we’re apparently losing a month and the purchase doesn’t hit FFP.

    • No way that he’s going to buy back ER or TA and increase the net worth whilst GFH still own shares! IMO

  2. He may use the cash to purchase ER but, not right away as the rent until Noveember has already been paid.

  3. It all sounds too good to be true, but lets hope that there are no problems and most of the money is put into Leeds, to help the club move forward.
    I am totally behind what Cellino is trying to do at Leeds and I would also like the unfit player Leeds players to go in the week-long Boot Camp, to improve their fitness, as Cellino has already suggested.

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