Leeds United have four different shareholders, of which Eleonora Sport Limited – the company used by Massimo Cellino to buy the club in April – is the largest.
Eleonora Sport holds a 75 per cent stake and has four representatives on United’s board.
Cellino sits as president alongside his two sons, Ercole and Edoardo, and Daniel Arty, his American financial advisor.
Gulf Finance House, United’s former owner, currently owns a stake of 10.46 per cent and is represented on the Leeds board by its head of investment management, Salem Patel, and Jinesh Patel, the chief executive of Dubai-based GFH Capital.
GFH also manages two other shareholdings - a 7.52 per cent stake held by Bahrain’s International Investment Bank (IIB) and a 7.02 per cent stake belonging to Envest Limited. Envest is a company controlled by ex-Leeds chairman Salah Nooruddin who quit the board at Elland Road shortly after Cellino’s takeover.
In effect, Cellino controls 75 per cent of Leeds and GFH controls 25 per cent.