Leeds bombshell: Cellino offered to sell stake to bend third-party rules - report
By Harvey Byrne
Leeds owner Massimo Cellino offered to sell 20 per cent of the club to help businessmen get around third party rules, according to a report.
The Italian businessman was filmed by the Telegraph suggesting the suggested firm should become a shareholder in his club, in return for which it would receive a portion of his players’ sell-on fees.
In a meeting at Leeds’ training ground, between football agent Pino Pagliara and Cellino, the owner proposed a way that the fund could effectively finance the purchase of players and then profit from their sale.
Cellino goes onto explain that due to the rules he could not simply “give an outside firm a percentage of the sale of the player”, but he did propose the firm bought shares amounting to 20 per cent of the club, in return for which it would receive a 20 per cent cut of future sell-on fees from transfers.
“You’ve got something, a logic to become partners… Because you are financing the club with £12 million and you got 20 per cent of the sell-on of the players,” said Cellino, as quoted by the Telegraph.
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The 60-year-old owner is currently the subject of an FA inquiry into allegations that he agreed an illegal payment of £185,000 during a transfer.
He is an unpopular figure at the Yorkshire giants following his takeover in 2014 with the famous club maintaining it’s place as a mid-table Championship team.
The club are currently in 14th place in the Championship table with 13 points from their opening 10 fixtures with fans keen to see an improvement.