Report: Cellino gives Leeds a loan

Leeds United 2

It appears that Cagliari owner Massimo Cellino may have given Leeds United a loan to ease cash-flow problems ahead of his attempted purchase.

As Leeds United's takeover negotiations carry on, there are reports that Massimo Cellino has given the club a significant sum of money to ease their financial problems.

The Sardinian entrepreneur is attempting to buy a 75 percent controlling share of Leeds United from GFH Capital.

Reports suggest that Cellino is just waiting for Football Association approval to exchange contracts having agreed a £25m payment for the share.

But Cellino faces competition from an alliance between the Sport Capital consortium and Together Leeds, which is run by former managing director of Manchester United International and ex-Sunderland marketing chief Mike Farnan.

The two groups allegedly met in London yesterday and pledged to match Cellino's bid in an attempt to prevent him taking control of the Elland Road club.

It is now being reported though that Cellino has already loaned Leeds £1.5m in order to ease immediate financial concerns.

This money is said to be separate from the sum that Cellino has put on the table to buy the 75 percent share and is an indicator that he is in pole position to buy Leeds.

However, Leeds' financial problems are no secret and the Sport Capital consortium reportedly invested around £6m into the club in October.

While the chaotic situation remains unresolved Cagliari midfielder Andrea Tabanelli, who joined Leeds on loan on deadline day will not be allowed to complete his transfer by the FA.

image: © Chris Robertshaw

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