Leeds United sold to new Italian owner… but Massimo Cellino will STILL control 50 per cent of club despite FA ban
Successful businessman Andrea Radrizzani has completed his purchase of 50 per cent of the Elland Road club today
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LEEDS UNITED has been officially sold to new Italian owners... but Massimo Cellino will STILL control 50 per cent of club despite FA ban
The agreement is between long-serving owner Massimo Cellino and Andrea Radrizzani, 42, who is founder and group chairman of Aser Group Holding, co-founder of international sports media rights company MP & Silva and a leading figure in the sports media industry over the past two decades.
And Radrizzani claimed he was delighted with his piece of business, stating he is thrilled to take over at such a big club.
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Radrizzani said: “I am delighted and proud to have acquired a 50 per cent stake in such a prestigious football club as Leeds United.
"I am excited by the challenge ahead and I will work alongside Massimo and everybody at the club to make Leeds United as successful as possible.
“I am fully aware of the great heritage and traditions of Leeds United and I will endeavour to be a fitting custodian on behalf of the many thousands of Leeds supporters, who are the lifeblood of the club.
“I am making a long-term commitment to Leeds United and will work to bring stability through ongoing investment. I aim to bring sustainable growth.
"I won’t do anything that will put the club’s future at risk.
“Through working in the sports industry for many years, I have developed a great passion for the English game and I am honoured to have become joint owner of one of the country’s biggest clubs.
“I am very impressed with the job Garry Monk has done this season and I will do all I can to support him and the team moving forward.
“The responsibility is on myself, Massimo and the executive management at the club to work together over the coming months to provide the best platform and environment for Garry and the team to achieve success.
“My immediate priorities over the coming weeks are to meet with Garry and the team; the club staff at Elland Road and Thorp Arch; supporters’ representatives; former players and media.”
Last month, Cellino was slapped with an 18-month ban and a £250,000 fine for his involvement in the Ross McCormack transfer, in the latest piece of controversy surrounding the club owner.
After finalising a deal to take over the club in 2014, Cellino was almost immediately found guilty of tax evasion by an Italian court, with the Football League declaring him as being in breach of its Owners and Directors Test and blocking his buy-out.
A month later an independent QC overturned the decision allowing the Italian to take control of Leeds United.
Cellino was also disqualified by the Football League for three months back in December 2014 following an investigation into his taxes in Italy.
He was disqualified again ten months later following another conviction in his native Italy, while a host of poorly thought-out ideas such as the 'Pie Tax' as well as some controversy surrounding his two sons saw Leeds fans demand Cellino to leave.
Since taking over, no fewer than EIGHT managers have served under the Italian as the merry-go-round whirled into action.