Deal for 50% stake in Leeds United set to be signed
A DEAL for 50% of Leeds United Football Club is set to be signed this week.
Rumours have been swirling that Andrea Radrizzani, an Italian businessman and co-founder of sports media group MP & Silva, would be acquiring the club from owner and fellow Italian Massimo Cellino.
He confirmed last week that he was in “advanced negotiations” and now it has been reported that Mr Radrizzani is set to agree to the deal which would see him acquire half the club outright, with an option to buy the remaining 50% if Leeds United stays in the Championship.
Mr Radrizzani was an adviser on the sale of Inter Milan to its Chinese owners.
He told the Straits Times: “Massimo has 100% now and if I do the deal, I will enter the club during this season with 50% and have the option to buy him out completely in June next summer.
“Leeds are exciting. They are a sleeping giant as everyone knows. Probably the only big brand left in English football that could grow in terms of value.”
Mr Cellino has been seen to be preparing for the sale of the club for some time. In September 2016 he acquired the former owner, Gulf Finance House’s 18% stake in the business.
Bahrain-based GFH acquired the club from Ken Bates in 2012, selling a 75% stake to Mr Cellino in 2014 before it began to divest its shareholding.
Leeds United won their Saturday match this weekend (3 December) against Aston Villa, finishing 2-0.
