Report: Leeds make loan to Edoardo Cellino, there is a huge coincidence
By Alex Stevens
Leeds made a payment of £5,000 to the son of Massimo Cellino last season, according to the newly released financial results.
The Yorkshire Evening Post note a huge coincidence in that the loan is identical in size to the fine which Football Association chiefs imposed on Edoardo Cellino in April 2016 after he was found guilty of abusing a Leeds fan on social media.
The report states that Leeds have not divulged whether the advance payment was made to help him cover the costs of the penalty.
The club’s latest set of annual accounts for the year ending June 2016 revealed a mixed set of financial figures, with turnover increasing £6m to £30.1million but losses also rising to £8.9million.
The loan to Edoardo Cellino came before he resigned from the Leeds board at the end of December after Italian businessman Andrea Radrizzani bought a 50 per cent stake in the club.
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This prompted a boardroom reshuffle as Companies House confirmed on their website that Radrizzani, Andre Tegner and Feng Ze Yeh had been appointed as directors.
The trio replaced Edoardo Cellino and Giampaolo Caboni as directors of the club on 30 December of last year.
The major changes at the top of the club came after sports media mogul Radrizzani took over half of the share of fellow Italian Massimo Cellino, who has retained a 50 per cent stake, through his investment vehicle Aser Group Holding.
Leeds chiefs are bullishly optimistic of turning a profit this season, which has been aided by increased commercial revenue and an average attendance of over 27,000 as well as a net profit in the transfer market under Garry Monk.
Leeds’ finances will take on a totally different slant if they are to achieve their ambitions of winning promotion this season and ending a 13-year spell in the lower leagues.
In other Leeds transfer news, the club have sealed an out-of-window midfielder transfer.