Tuesday, 8th April, 2014

Italian businessman Massimo Cellino has completed his takeover of Leeds United, his lawyers have confirmed.

The Cagliari owner recently succeeded in his appeal against the Football League barring him from buying the Yorkshire giants after concluding he failed its owners' and directors' test.

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The Football League may revisit the issue in the summer when the full written verdict from Cellino's conviction for tax evasion in his native Italy comes through.

But for now Cellino has bought 75 per cent of Leeds from GFH Capital.


The Italian's lawyers, Mishcon de Reya, tweeted: "Massimo Cellino has now been appointed a director of LUFC Holdings & ESL has completed its purchase of 75 per cent of the shares of LUFC Holdings."

Meanwhile, Leeds confirmed losses of £9.5m for the 2012/13 financial year earlier today, with turnover dropping by £3m and attendances down eight per cent.

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