Leeds owner Cellino to pocket €10m deposit as Cagliari sale edges closer

Elland Road pitchside

According to reports in Italy, the sale of Cagliari could be completed in 'the next few hours'.

Wednesday proved to be an important day for both Leeds United and Cagliari ,as the City of Cagliari and the Provincial Regulatory Commission finally gave the long-awaited green light to extend the capacity of the Italian side’s stadium to capacitate 16,000-seats.

The green light on the stadium expansion will now pave the way for the final signatures for the transaction of Cagliari from Cellino to the US fund represented by the Italian intermediary Luca Silvestrone.

‘Financial representatives involved in the negotiations were just waiting for the opinion of the provincial supervision,’ said Silvestrone.

‘They are [now] ready to close the transaction.’

The good news for Leeds United supporters in all of this, other than the full attention of Cellino, is the previously agreed €10 million deposit the Italian will receive following the sale of the club he was president at for 22-years.

It is likely the money could help aid Leeds United’s current cash flow situation which has already, reportedly, cost people their jobs at Elland Road and the closure of the academy.

The money will also go along way in helping Leeds United more marketable to potential new 'head coaches' as they look far and wide for the right man to come in and replace the outgoing Brian McDermott.

Although the negotiations are dictated by time zones, according to Luca Silvestrone, the signature is expected in the next few hours, and Leeds United could be looking to bolster their squad as soon as the transfer window opens on July 1st.

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