League Championship side Leeds United Owner Massimo Cellino's reign is "under serious threat after an Italian judge ruled he set up a 'bogus corporate screen' as part of a 'Machiavellian simulation' deliberately to evade paying import tax on a yacht" in '12, meaning the Football League could "bar the Italian from controlling the club," according to Riach & Davies of the London GUARDIAN. The former Serie A Cagliari owner took control of Leeds in April this year "through his company Eleonora Sport after an independent QC overturned an original decision to block him from buying the Championship side because there was insufficient evidence" that he acted "dishonestly" when failing to pay nearly €390,000 ($497,000) import duty on his private boat, the Nélie. However, the "full written ruling on the case" states that there was "no doubt as to the existence of an elusive intent on the part of [Cellino]." Cellino's position as Leeds owner could "therefore be in jeopardy as the
Football League's owners' and directors' test disqualifies individuals
who 'have unspent convictions for offences of dishonesty'" (GUARDIAN, 9/24). In London, Oliver Kay reported "it is believed" that Cellino will "appeal to the Italian authorities." If disqualified as a "fit and proper" owner and director, Cellino would
be "barred from owning" more than 30% of the club and from
holding a "position of influence, but as Italian law allows for repeated
appeals, League intervention might be some way off" (LONDON TIMES, 9/25).
THE KEY MOMENT: In London, Riach reported the "key moment in this unlikely saga came in April, on an afternoon when Leeds lost 1-0 at Wigan Athletic last season." Tim Kerr, an independent QC, overturned the League's decision to "block Cellino from buying Leeds." It "sparked celebration among the majority of supporters and opened the door for Cellino to purchase a 75% share in Leeds through his company Eleonora Sport." Cellino has "become embedded in a club that without his intervention was sailing into oblivion." Under GFH Leeds was hemorrhaging around £1M ($1.6M) a month but since his £35M ($57M) takeover, Cellino has brought "financial stability, galvanised support and also promised to buy Elland Road back from private hands" (GUARDIAN, 9/24).
