Leeds ripe for takeover as Cellino buys out GFH

Date published: Friday 9th September 2016 11:07

Massimo Cellino: Controversial Leeds owner

Massimo Cellino: Controversial Leeds owner

Leeds’ ownership model has changed with the club announcing that Gulf Finance House no longer owns shares.

GFH – the Bahrain-based investment bank – bought Leeds from Ken Bates in the winter of 2012 before selling a majority stake to current owner Massimo Cellino in January 2014.

In a statement published on Thursday, United announced the company Cellino operated under, Eleonora Sport, has purchased GFH’s shares for 100 per cent ownership.

The move gives weight to the club being taken over in the coming weeks, as per recent reports.

Cellino is thought to want to retain a minority stake if he signs the club over to someone else.

A consortium fronted by Italian Andrea Radrizzani has been named as a potential buyer, with the businessman a guest of Cellino at a number of games.

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