Italian tycoon bids to revive Leeds Utd deal with Gulf owners

  • Share via facebook
  • Tweet this
  • Bookmark and Share
(Getty Images - Photo for illustrative purpose only)

(Getty Images - Photo for illustrative purpose only)

The Football League has confirmed that the legal representatives of Massimo Cellino have lodged an appeal against its decision to block the purchase of a majority stakes in Leeds United from Gulf-based owners GFH Capital.

Football authorities deemed that Cellino should be subject to a disqualifying condition under its owners’ and directors’ test.

The appeal will be heard by an independent QC, who will have access to independent expert evidence relating to certain aspects of Italian law and will determine the matter following submissions from both parties, a statement said.

It added that the appeal will be convened at the "earliest opportunity", in line with The Football League’s previous commitment to expedite the appeal process to deliver much-needed certainty to all the relevant parties.

GFH Capital, who Bates sold the Championship club to in December 2012, is currently looking to find a solution after its proposed sale of a 75 percent stake was stopped by the Football League.

The statement comes as media reports in the UK claim Leeds United's players have not been paid their wages for March on time.

BBC Sport reported that Leeds owner GFH Capital believed that Cellino was contractually obliged to pay this month's wages regardless of the status of his takeover.

It is understood general members of staff have received their pay, the report added.

Related:

Market Performance

Gulf Finance House - Bahrain
0.403
0.0 0.0 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: gordon white

The only criteria for running a football club is that you have the money to do it.with out a shadow of doubt Massimo cellino has the funds to back his takeover.the other suitors are consortium's and they tend scrape the money together to buy the club but are unable to take it forward.

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Q&A with Noor Bank

Q&A with Noor Bank

Kazim Ali, head of corporate banking at Noor Bank, discusses...

Saudi bank's $6bn IPO ignites religious controversy

Saudi bank's $6bn IPO ignites religious controversy

Plans by National Commercial Bank have prompted some clerics...

Dubai flexes legal muscles as financial court system grows

Dubai flexes legal muscles as financial court system grows

Landmark ruling by the court system in Dubai's financial free...

Most Popular
Most Discussed