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SBD Global/February 26, 2014/Franchises

Football League Remains In Talks With Massimo Cellino Over $42M Takeover Of Leeds

The Football League "has confirmed it is still in talks" with League Championship side Leeds over the club’s proposed £25M ($42M) takeover by Italian businessman Massimo Cellino, according to the TELEGRAPH & ARGUS. A league statement read, “The Football League remains in discussions with both the owners and proposed purchasers of Leeds United," regarding the planned change of ownership. If Cellino’s takeover is approved by the League, Leeds Chair Salah Nooruddin "will remain in his post," and Managing Dir David Haigh "will become the club’s new chief executive." Int'l Investment Bank and Nooruddin (3.3%) "will still own" the remaining 15% of shares (TELEGRAPH & ARGUS, 2/25). The YORKSHIRE POST reported the Football League said it was yet to resolve "a number of outstanding matters." The Football League said, "The Board of The Football League is next scheduled to meet on March 13 where it will receive an update on the matter from the League’s executive, unless all the remaining issues can be resolved satisfactorily in advance of this date" (YORKSHIRE POST, 2/25). In London, Rory Smith wrote once the requested information is supplied, "it is believe" the Italian buyer "would still have to go through the owners and directors test before he was allowed to take control of Leeds" (LONDON TIMES, 2/26).
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