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Report - Cellino faced with Leeds United winding-up petition

Former Leeds managing director David Haigh has served a winding-up petition on the club, and Massimo Cellino has less that five weeks to settle.

A report in the Yorkshire Evening Post has claimed that David Haigh's Sports Capital company have ordered a winding-up petition of Leeds United, with an outstanding loan of almost £1 million.

Haigh - the sole director of Sports Capital - called in a loan of roughly £1 million during Cellino's takeover in April, which the Italian failed to repay in the listed 21 day period. Following the failure to repay the loan, the club were served with a winding-up petition in the run up to the 3-1 victory at Birmingham City, on April 26.

According to recent financial reports, Sport Capital loaned the club a total of almost £1.8 million, after Gulf Finance House - the Bahraini investment back who owned the club before Cellino's arrival - agreed to sell a controlling stake to Haigh's company.

Following the collapse of Sports Capital's proposed takeover, and the arrival of Cagliari owner Cellino, the Italian has been under intense financial pressure to right the financial distress placed upon the club. Since his arrival, Cellino has dealt with a tax bill of more than £500,000, as well as fixing the deferred payment of wages to both players and coaching staff.

And now the Italian must attempt to prevent Leeds from facing a winding-up order by meeting the valuation of Sports Capital's bill. The amount requested falls well below the £1.775 million listed in the club's accounts, although the bill only requests the loan made by Sports Capital, with a majority of the value believed to have been made by Haigh himself.

Haigh was important in the purchase of Leeds from Ken Bates by GFH in 2012, and became managing director of the club last July. After becoming chief executive during the process of Cellino's takeover, he resigned following comments indicating that the Italian planned to sack him following completion of the process.

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