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Leeds United takeover decision due within ten days
The Football League have said it could take up to ten more days to make a decision on the ownership of Leeds United.
The Elland Road club are currently waiting to find out if the takeover by Eleonora Sports, an Italian group headed by Cagliari owner Massimo Cellino, from Gulf Finance House Capital will be passed.
The 57-year-old has been bankrolling the club over recent months but has recently told Leeds he will not put any more money in until a decision comes. Cellino agreed the purchase on February 1, some 40 days ago.
Cellino faces a tax evasion case in Italy on March 18 and his bid has been the subject of intense scrutiny. He denies the allegations.
A Football League spokesman said: “At its meeting today, the board of the Football League gave detailed consideration to the proposed takeover of Leeds United by Eleonora Sport Limited.
“The board discussed the eligibility of the proposed purchasers under the owners’ and directors’ test and examined evidence of both the source and sufficiency of funding.
“The majority of outstanding issues have now been resolved to the League’s satisfaction and the board anticipates receiving further information on the remaining issues, from the representatives of Eleonora, in the next week.
“The board recognises the pressing need to resolve the matter and to provide certainty to all parties. It therefore anticipates being able to reach a conclusion in the next ten days.”
The statement comes after Leeds managing director David Haigh insisted there was “no chance” of the club going into administration without Cellino’s money.
Cellino earlier this week revealed his frustration at the situation as he was reported as saying: “It has been a black hole and things cannot carry on like this.
“I have to wait for the decision of the Football League before I put any more money in. I want to help Leeds and get to work but I cannot do any more until I am the owner.”
The off-field distractions have been married with on-field carnage. United were beaten 5-1 by Bolton and then 4-2 by Reading on Tuesday, putting pressure on manager Brian McDermott.
The United boss was sacked by Cellino on January 31 but reinstated a day later when the Italian realised he had no authority to do so.