Leeds United owner Massimo Cellino agrees to sell Cagliari

Massimo Cellino has agreed to sell Serie A club Cagliari for a reported 85 million euros

Massimo Cellino has agreed to sell Serie A club Cagliari for a reported 85 million euros

First published in Sport by

Leeds United owner Massimo Cellino has revealed he has agreed to sell Serie A club Cagliari to an unnamed American investment group.

Cellino met with the potential buyers, led by Italian businessman Luca Silvestrone, in Miami yesterday afternoon to finalise the agreement.

The deal, worth a reported 85 million euros, is expected to be completed by the end of the week.

"I am delighted," said Cellino. "We have reached an agreement and we have signed a letter of intent that foresees their takeover of the club.

"Now they will have to fight with the (Italian) bureaucracy.

"I hope they will be allowed to do what I wasn't given permission to do (to build a new Cagliari stadium)."

Cellino purchased Cagliari in 1992 and had been looking to sell the Sardinia-based outfit since acquiring a 75 per cent stake in Leeds earlier this year.

Should the sale go through, Cagliari would become the third Serie A club to be foreign-owned - Roma have been controlled by an American consortium since May 2011 while Indonesian tycoon Erick Thohir acquired Inter Milan last year.

Cagliari finished 15th in the Serie A standings, seven points clear of the drop zone.

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