League Championship Leeds United has confirmed the sale of a 75% stake in the club to Serie A Cagliari Owner Massimo Cellino, "subject to Football League approval," according to SKY SPORTS. Current Leeds owner GFH Capital said in a statement on the club's website that it will retain a 25% stake in the club and "Salah Nooruddin will remain as chairman with David Haigh staying on" as CEO. The Cellino family's company, Eleanora Sport Ltd., will be the "new owners, provided the Football League rubber-stamps the deal" (SKY SPORTS, 2/8). REUTERS' Mike Collett reported Leeds supporters groups have "expressed their concern over the takeover as the 57-year-old businessman has a criminal conviction for fraud in his homeland" (REUTERS, 2/7). In London, David Conn reported Cellino's takeover is "subject to Football League approval, meaning he must be passed as 'fit and proper' despite his past convictions for fraud offences." The league's "owners and directors test," formerly the "fit and proper persons test," bars people from "owning a substantial stake in a club if they have 'unspent convictions' including 'for offences of dishonesty.'" As Cellino's convictions "were approaching 13 and 18 years ago" -- the earlier one has been expunged, according to Cellino's lawyer, Giovanni Cocco -- they are "expected to be 'spent' in English law" (GUARDIAN, 2/7). The YORKSHIRE EVENING POST wrote "Cellino has cash, that much is known, but the colour of it and the man who controls it are not so certain." Taking Cellino's cash is a "gamble on United’s part, regardless of the promises made by Cellino to buy back their stadium" from Teak Commercial Ltd. and "make Leeds a Premier League club again." Every would-be owner "says the same." The obstacle for Cellino now is "Football League approval." Those who "know the regulations expect him to get it." Leeds Chair Nooruddin is "equally optimistic." Nooruddin: "In my opinion he has 22 years experience as owner of a football club in Italy. He is well recognized in the Italian market. His lawyer, his team, are very confident that the Football League will say yes" (YORKSHIRE EVENING POST, 2/8).
GROWING TREND: In London, Glenn Moore reported if Cellino "succeds in taking over Leeds," the club will become the "third Championship outfit to be part of a stable of clubs." Watford's owners, the Pozzo family, "also own Udinese (Italy) and Granada (Spain)," while Charlton Athletic was recently "bought by Roland Duchâtelet, a Belgian tycoon who has become a serial purchaser of clubs" (INDEPENDENT, 2/7).
