The Football League expects to reach a verdict on Massimo Cellino’s takeover of Leeds United in the next 10 days after discussing the Italian’s deal at a board meeting yesterday
The Football League expects to reach a verdict on Massimo Cellino’s takeover of Leeds United in the next 10 days after discussing the Italian’s deal at a board meeting yesterday, writes Phil Hay.
Cellino’s bid for a majority stake in Leeds appears to rest on tax evasion charges being brought against him in Italy next week, with the Football League confirming that “the majority of outstanding issues have now been resolved.”
The biggest threat to Cellino’s £25m buy-out of United owner Gulf Finance House would seem to be an Italian court case in which the 57-year-old is accused of avoiding payment of 400,000 Euros in import duty on a luxury yacht he bought in 2010.
Cellino, who is currently in Miami, denies the charges and is not planning to attend Tuesday’s hearing in Sardinia and would almost certainly fail the Football League’s Owners and Directors Test if he is found guilty.
A statement issued by the Football League last night read: “The majority of outstanding issues have now been resolved to the League’s satisfaction and the board anticipates receiving further information on the remaining issues, from the representatives of Eleonora, in the next week.
“The board recognises the pressing need to resolve the matter and to provide certainty to all parties.
“It therefore anticipates being able to reach a conclusion in the next ten days.”