They ran out out of cash!!! after they burdened Leeds with a 30mill loan at high interest repayments, which is what Cellino renegotiated down, thus shrinking our debt.
OR, they knew exactly what they were doing with helpfull advice and tips from Bates. Let's not forget GFH tried to con Cellino by inserting in the agreement that if Harvey and Co banned Cellino for life, which GFH were relying on, they could buy back Leeds United for 1 quid. Fortunately, Cellino was smarter than them and it backfired on'em......![]()
He hasn't shrunk our debt. He renegotiated how much we pay them back, smaller amounts for a longer period of time and if he'd have completed DD properly he would have spotted their con.
He then loaned the club 20 million from Elanora sports for the day to day running of the club.
As for Cellino being smarter than Harvey & co, if they were going to get the whole club back for a quid because they knew GFH didn't have the cash to run it and he paid 25 million for only 75% of it, I wouldn't call that astute business acumen.


