Leeds takeover update: Major development to take place this week as key clause agreed - report
By Alex Stevens
Leeds owner Massimo Cellino will give the green light to a 50 per cent sale of the club to Italian media mogul Andrea Radrizzani in the coming days, according to a report.
The Mail claim the controversial Elland Road chief is poised to ratify the takeover by his fellow Italian this week after a key clause was agreed as part of the deal.
It is said that Radrizzani has “negotiated a 50 per cent share with Cellino which is understood to include an option to buy the remaining 50 per cent should Leeds stay in the Championship”.
The report states that there is no current option to buy the remaining 50 per cent should Leeds go up into the Premier League.
Garry Monk’s side are on a crest of a wave after winning five of their last six Championship matches, including Saturday’s 2-0 win over in-form Aston Villa.
Subscribe to Football Insider TV now
Leeds climbed to fourth in the league to narrow the gap on leaders and strong division favourites Newcastle to eight points.
The Yorkshire giants are also now seven points behind Brighton, who are placed in the second automatic promotion spot.
Radrizzani broke cover earlier this week when he confirmed that he is in talks to buy a major stake in Leeds.
The co-founder of media rights group MP & Silva, who has been seen at Elland Road on numerous occasions this season, revealed in an interview with The Straits Times that he was in “advanced negotiations” with Cellino.
“Massimo has 100 per cent now and if I do the deal, I will enter the club during this season with 50 per cent and have the option to buy him out completely in June next summer,” said Radrizzani.
The businessman added that he will bring his own team and management to Leeds if the deal goes through, although he stopped short of giving any view on current manager Monk.
Leeds return to Championship action next Friday when travel to Brighton in what will be the fourth out of five of their matches to be televised.
Monk’s side will leapfrog Reading and climb into third if they are able to secure what would be a momentous sixth win out of seven league fixtures.
In other Leeds news, the club are closing in on a £3.6million January signing.