Leeds’s owners have confirmed they have agreed to sell a majority stake in the club to Italian Massimo Cellino.
Gulf Finance House released a statement on Saturday lunchtime after a manic 24 hours at Elland Road, confirming it had agreed a 75 per cent sale to Eleonara Sport Ltd - Cellino’s company - subject to Football League approval.
The news had been expected, but came a day after Cellino had overseen the removal of manager Brian McDermott in favour of long-term friend Gianluca Festa.
However in another twist, it is believed ahead of Saturday’s game with Huddersfield the club were working on persuading McDermott to return to the dugout.
The statement read: “Following recent media reports and speculation, GFH Capital would like to confirm that it has agreed to sell a 75 per cent stake in the club to Eleonora Sport Ltd, a company owned by the Cellino family who have many years’ experience in football and who 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 a well known Italian sports family, who have owned Serie A side Cagliari since 1992. They come to English football with an ambition to support Leeds United financially to take it to the Premier League and a belief that the club can sustain top-flight status.
“Since the agreement, Leeds United is in discussion with Eleonora Sport Ltd on a number of issues concerning club matters, including the structure of the management of the first team.”