Cellino sells 50 per cent stake in Leeds to Radrizzani
Leeds owner Massimo Cellino has sold a 50 per cent stake in the Sky Bet Championship club to Italian businessman Andrea Radrizzani. Sports media tycoon Radrizzani, 42, who entered into talks with Cellino in the summer, has acquired 50 per cent of the club's share capital through his company Aser Group Holding.
Speculation over the club's future had been mounting since Cellino, 60, assumed 100 per cent control at Elland Road in September when he bought the minority stake held by previous owner Gulf Finance House.
Radrizzani co-founded global sports media company MP & Silva in 2004 and has strong connections in China.
"I am delighted and proud to have acquired a 50 per cent stake in such a prestigious club as Leeds," Radrizzani said. "I am excited by the challenge ahead and I will work alongside Massimo and everybody at the club to make Leeds United as successful as possible.
"I am fully aware of the great heritage and traditions of Leeds United and I will endeavour to be a fitting custodian."
Cellino is due to start an 18-month ban from all football activities on February 1 for breaching agent rules over the sale of Ross McCormack to Fulham in 2014.
The Italian and Leeds were both fined £250,000 by the Football Association, while Cellino has already indicated he will appeal against the ruling.