GFH to sell 75% stake in Leeds United FC to Italian sports firm ending weekend of chaos
After much speculation, Gulf Finance House have confirmed that they will be selling a 75% stake in the club to Eleonora Sport Ltd, a company owned by the Cellino family.
They plan to invest “substantially” in the club including the re acquisition of Elland Road. Eleonora will be working on completing the required Football League approval.
The Cellino Family is an Italian sports family, who have owned Serie A side Cagliari since 1992.
They have said their aims are to support Leeds United financially to take it to the Premier League and sustain the clubs “top-flight status.”
Since the agreement, Leeds United is in discussion with Elenora Sport Ltd. on a number of issues concerning the Club matters including the structure of the management of the first team.
Following speculation on Friday it has also been confirmed that David Haigh remains the MD of Leeds United. Brian McDermott will also remain as first team manager.
A statement on the LUFC website said: “The club would like to make it clear that Brian McDermott remains our first team manager.
“He has not been dismissed from his post as has been suggested and we look forward to him continuing in his role with us in taking Leeds United forwards.”
This was posted in Bdaily's Members' News section by Clare Burnett .
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular Yorkshire & The Humber morning email for free.