Cellino completes takeover of Leeds
APR 08, 2014 11:50a ET
LEEDS, England (AP) The legal representatives of Massimo Cellino say the Cagliari president has completed his drawn-out takeover of fallen English power Leeds.
Law firm Mishcon de Reya says on its Twitter account that Cellino's company, Eleonora Sport, has ''completed its purchase of 75 percent'' of shares in the second-tier club and that Cellino has been appointed as a director.
Cellino was initially blocked from taking over Leeds by the English Football League because of his recent conviction in Italy for tax evasion, but he was successful with an appeal.
Bahraini investment bank GFH Capital will retain a 25 percent stake in Leeds, which won the English top-flight title in 1992 and reached the Champions League semifinals in 2001 before falling into financial difficulties. Leeds is 16th in the League Championship.