Cellino vows to repurchase Elland Road next Thursday TSS Feb 6th, 2014 0 Comments As Massimo Cellino closes in on his takeover of Leeds United, the Italian has started to outline his plans for the club. In an interview with The Financial Times, Cellino confidently predicts he’ll pass the Football League Owners & Directors test and says he’ll be having a meeting with the Football League next Wednesday. An English company will be set-up which Cellino will control 9.5% of which his family controlling the majority stake. Once the takeover completes, Cellino says he plans to move to Yorkshire and take on the role of club president. Cellino insists he has the funds to take Leeds United forwards and plans to demonstrate his seriousness next Thursday when he’ll visit the bank to repurchase Elland Road. “On Thursday I am going to the bank and I will buy our stadium. I have the funds to buy Leeds and to run Leeds.” Along with a promise to restore Leeds United to the Premier League, Cellino also says he’ll invest in Leeds’ Academy and scour the globe in search of new players, an area where he’ll maintain the same “hands-on approach” he had at Cagliari. The full story can be read in The Financial Times, though this does require a subscription since the site is behind a pay-wall. Spread the word... 000 Interesting statement. Next Thursday hell either look a fool or will have achieved more in a week than gfh and bates combined time at club
Decent man yes,real nice guy yes,just not sure about him being ruthless enough to be a great manager.
So you lot are more worried about mcds job than the prospect of the club being able to buy back Elland road and recruit proper players for once. Guess we all have different ambitions. Anyway, well soon know the outcome
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email [email protected] to buy additional rights. http://www.ft.com/cms/s/0/6850ccea-8f25-11e3-be85-00144feab7de.html#ixzz2sZtHBCKN Massimo Cellino’s goal of owning Leeds football club in sight By Andrew Bounds Massimo Cellino, the Italian businessman says he expects to have “no problem” in being approved as the new owner of Leeds United and that his purchase of the football club should complete next week. Mr Cellino, who swooped on the club after a bid from local businessmen collapsed last week, is paying about £25m for a 75 per cent stake from owners GFH Capital.More ON THIS TOPIC Leeds United accepted £1.5m Cellino loan Battle for control rocks Leeds United Leeds United control to change again IN TRAVEL & LEISURE Listed pubs start to clear debt hangover Christmas cheer lacking at Enterprise Inns Team Beckham is Miami bound Leeds United manager reinstated He told the Financial Times that he was confident he would be approved as a suitable owner by the Football League, despite a past conviction for false accounting. Mr Cellino blamed the “jealousy” in Italian football for the 2001 false accounting case. He was also convicted of fraud in 1996 but cleared on appeal. He said he was selling his Serie A club Cagliari because he was “tired and fed up” of Italian football and he did not have the energy to run two clubs. “It is not going to be a problem,” he said of the League test because standards in Italy were high. “I have owned a club for 22 years. I have a lot of experience.” Since Mr Cellino’s conviction is spent under English law and he received a suspended sentence, it should not prevent him passing the Football League’s test of whether he is fit to own a club, according to Mr Cellino’s lawyer. Leeds would be owned by an English company, Mr Cellino said, of which he would hold 9.5 per cent, with his family in overall control. Their first act would be to buy back the club’s 40,000-capacity Elland Road stadium. On Thursday I am going to the bank and I will buy our stadium. I have the funds to buy Leeds and to run Leeds- Massimo Cellino Mr Cellino said he would install himself as president of Leeds, move to Yorkshire and have a hands-on approach to player recruitment. He would invest in the academy and scour the world to buy players. Leeds borrowed £1.5m from Mr Cellino last week to help pay the championship club’s wage bill. It is robustly contesting a winding up petition from Enterprise Insurance, the club sponsor. Andrew Flowers, managing director of Enterprise, and the company itself, are owed about £4m, according to people familiar with the situation. Mr Cellino said he had the money necessary to buy and invest in the lossmaking club and would meet the Football League on Wednesday. “On Thursday I am going to the bank and I will buy our stadium. I have the funds to buy Leeds and to run Leeds.” He pledged to return the club, which had average crowds of more than 30,000 when it was in the top flight, to the Premier League in his first full season in charge and keep it there. “A club like Leeds has big potential. I want to see Leeds United versus Manchester United like it used to be. I want to make the fans happy. I know what it means to be a fan.” Leeds was English champion three times before relegation from the Premier League in 2004, but suffered a brief spell in administration in 2007. GFH, a Bahrain private equity fund, bought the club in 2012 and has invested £20m. Mr Cellino, who lives in Miami, confirmed that he recently looked at Sheffield Wednesday. He also tried to buy West Ham United in 2010. Copyright The Financial Times Limited 2014. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.
Maybe he thought he was doing what the fans wanted,if he had seen Rochdale and Wendies games he wont have seen much love aimed at McDermott would he.
Its amazing what people will say and do when they are trying to obtain a fit and proper person certificate
Know what you mean Mighty,JB said he was going to redevelop all south London and increase the size of your ground.When in reality its a good job none of you guys can afford cars,cos he's even sold your car park.
I hope this delay of Cellino taking charge has gave him the chance to reflect on McDermotts position and understand a little more about the fan base. If he was to look at recent results on paper and with his previous it may have been a no brainer to fire Brian. But we all know football isnt played on paper. If he lands us and follows up on his promises with the ground then its a mighty step forward for the club and one I dont believe any rival bidder could match. I could be wrong, purely my opinion by this could be the guy who gets us back as a force rather than us limping along relying on the loyal fan base as the 12th man.
If this is bullshyte then its no worse than what Haigh has been spouting for months. However this bullshyte shows ambition and promises that he can back up, not the "seeing the future prospects of the club enhanced by our experienced stewardship, and also fans of the club looking out for the interests of the fans" now that was serious bullshyte. If the Italian comes in he deserves a chance and by the sound of it he's either a fooking huge fantasist or what we've all wanted for years.
Personally I've taken a fair slagging from a few mates since the dire news headlines of last Friday. Would love the opportunity to stick two fingers up at a few if this one comes off. In a friendly sort of way of course
The man has come right out and stated he will buy Elland Road next week (Leeds United's stadium, not the street, for the benefit of the Nilwall lot!). For me this is an acid test - do it and we have an owner we can believe in. Anything short of that and he is just like the others have been over the last decade. I wish us fans the best of luck!
So this time next week we could either be as happy as a pig in ****, or left once again deflated and wondering whether we're gonna be back in the **** again. I know it's all words at the minute, but if he pulls this off then I'd be happy to wipe the slate clean after last week's mentalness and give him a chance.
