Leeds owner Massimo Cellino completes sale of Serie A side Cagliari to Italian company Fluorsid Group for undisclosed fee

Cellino's young reign at Elland Road has been clouded in controversy and he has now completed the sale of the Italian club

Leeds United owner Massimo Cellino has sold Cagliari Calcio to Italian company Fluorsid Group for an undisclosed fee, the Serie A club announced on Wednesday.

Fluorsid, a chemical company based in Cagliari and owned by the Giulini family, has acquired 100 per cent stake of the Sardinia football club for a reported 45million euros.

A statement from the club read: "Today (Wednesday) a contract has been signed for the sale of the 100 per cent stake of Cagliari Calcio to Fluorsid Group."

Cellino purchased Cagliari in 1992 and had been looking to sell the Sardinia-based outfit since acquiring a 75 per cent stake in Leeds earlier this year.

He revealed last week he had entered negotiations with the Giulini family to hand over the club after the sale of Cagliari to an American consortium group fell through earlier this month.

"During the first few months of 2014, I convinced myself that the time had come to end my 22-year experience at the helm of Cagliari Calcio," Cellino said to http://www.caglaricalcio.net.

"They have been intense and marvellous years during which I have experienced unforgettable moments.

"I want to thank everyone that has accompanied me in this journey.

"The club shareholders have taken a careful decision with regards to the sporting ambitions of the club, the seriousness of the project and the adherence of the territorial values.

"Cagliari Calcio is in need and deserves a precise and ambitious project.

"Fluorside Group and Tommaso Giulini are a guarantee in this sense.

"The fans can be calm.

"Cagliari Calcio will continue a journey of sustainable growth."

New owner Tommaso Giulini inherits a club that finished 15th in the Serie A standings, seven points clear of the drop zone.

"The Cagliari Calcio that I have in mind is ambitious," Giulini said. "It has very clear foundations: the development of a successful technical project, the growth of the youth system, innovation and to make our brand more international.

"The next few days will serve, besides defining the details of the deal, to create a working plan in order to face the main issues, such as coaching staff, team, sponsors and the stadium."

PA

News
Russell Brand was in typically combative form during his promotional interview with Newsnight's Evan Davis
peopleReports that Brand could stand for Mayor on an 'anti-politics' ticket
News
The clocks go forward an hour at 1am on Sunday 30 March
news
Arts and Entertainment
The Doctor finds himself in a forest version of London in Doctor Who episode 'In the Forest of the Night'
TVReview: Is the Doctor ever going stop frowning? Apparently not.
News
Voluminous silk drawers were worn by Queen Victoria
newsThe silk underwear is part of a growing trade in celebrity smalls
PROMOTED VIDEO
Have you tried new the Independent Digital Edition apps?
Sport
footballMatch report: Real fight back to ruin Argentinian's debut
News
Candidates with surnames that start with an A have an electoral advantage
newsVoters are biased towards names with letters near start of alphabet
Arts and Entertainment
Isis with Lord Grantham (Hugh Bonneville)
TV
Arts and Entertainment
Jay James
TVReview: Performances were stale and cheesier than a chunk of Blue Stilton left out for a month
Caption competition
Caption competition
Latest stories from i100
Have you tried new the Independent Digital Edition apps?

Bleacher Report

Daily Quiz
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Career Services

Day In a Page

Wilko Johnson, now the bad news: musician splits with manager after police investigate assault claims

Wilko Johnson, now the bad news

Former Dr Feelgood splits with manager after police investigate assault claims
Mark Udall: The Democrat Senator with a fight on his hands ahead of the US midterm elections

Mark Udall: The Democrat Senator with a fight on his hands

The Senator for Colorado is for gay rights, for abortion rights – and in the Republicans’ sights as they threaten to take control of the Senate next month
New discoveries show more contact between far-flung prehistoric humans than had been thought

New discoveries show more contact between far-flung prehistoric humans than had been thought

Evidence found of contact between Easter Islanders and South America
Cerys Matthews reveals how her uncle taped 150 interviews for a biography of Dylan Thomas

Cerys Matthews on Dylan Thomas

The singer reveals how her uncle taped 150 interviews for a biography of the famous Welsh poet
DIY is not fun and we've finally realised this as a nation

Homebase closures: 'DIY is not fun'

Homebase has announced the closure of one in four of its stores. Nick Harding, who never did know his awl from his elbow, is glad to see the back of DIY
The Battle of the Five Armies: Air New Zealand releases new Hobbit-inspired in-flight video

Air New Zealand's wizard in-flight video

The airline has released a new Hobbit-inspired clip dubbed "The most epic safety video ever made"
Pumpkin spice is the flavour of the month - but can you stomach the sweetness?

Pumpkin spice is the flavour of the month

The combination of cinnamon, clove, nutmeg (and no actual pumpkin), now flavours everything from lattes to cream cheese in the US
11 best sonic skincare brushes

11 best sonic skincare brushes

Forget the flannel - take skincare to the next level by using your favourite cleanser with a sonic facial brush
Paul Scholes column: I'm not worried about Manchester United's defence - Chelsea test can be the making of Phil Jones and Marcos Rojo

Paul Scholes column

I'm not worried about Manchester United's defence - Chelsea test can be the making of Jones and Rojo
Frank Warren: Boxing has its problems but in all my time I've never seen a crooked fight

Frank Warren: Boxing has its problems but in all my time I've never seen a crooked fight

While other sports are stalked by corruption, we are an easy target for the critics
Jamie Roberts exclusive interview: 'I'm a man of my word – I'll stay in Paris'

Jamie Roberts: 'I'm a man of my word – I'll stay in Paris'

Wales centre says he’s not coming home but is looking to establish himself at Racing Métro
How could three tourists have been battered within an inch of their lives by a burglar in a plush London hotel?

A crime that reveals London's dark heart

How could three tourists have been battered within an inch of their lives by a burglar in a plush London hotel?