Serie A side Cagliari President Massimo Cellino "has agreed to sell" the club to an unnamed U.S. investment fund, according to Brian Homewood of REUTERS. Cellino, who bought control of League Championship club Leeds United in April, said that "it was up to the new owners to fight with the local bureaucracy over the club’s stadium." Cellino: “We have reached an agreement and we have drafted a letter of intent providing for their entry into the company" (REUTERS, 5/28). The BBC reported Cellino will receive an initial €10M ($13.6M) payment, followed by a further €67M ($91M) on "approval of a project to develop the Italian club's stadium." Cellino, who bought Cagliari in '92, "hopes to sign the deal on Friday." Ex-Inter Milan Dir Tommaso Giulini had seen a €40M ($54M) bid rejected (BBC, 5/28). The AFP reported Cellino ''offered his support to the new buyers." U.S. investor Luca Silvertone "had been competing" to buy the club (AFP, 5/28). Cellino, who "is relieved" to be handing over the club, said, "I'm thrilled. God bless them. Now they will fight with the bureaucracy" (INSIDE FUTBOL, 5/28). The INT'L BUSINESS TIMES' Tony Mogan reported Cagliari Sporting Dir Nicola Salerno "has revealed he may become the latest addition" to Cellino's restructuring of Leeds. To "ensure a promotion push next season, Cellino may turn to his former sporting director Salerno to recruit players who helped Cagliari ensure a 15th place finish in Serie A last season." Salerno: "My future depends on what he (Cellino) decides. I have a personal and friendly relationship (with Cellino) and I might go to Leeds" (IB TIMES, 5/28).
