Leeds United takeover: Massimo Cellino warns he will cease funds unless given approval by Football League
The Italian has yet to be given the green light to officially takeover at Elland Road
Wednesday 12 March 2014
Massimo Cellino has told Leeds he will not inject any more money into the club unless his takeover bid is approved by the Football League.
Since agreeing to buy a 75 per cent share from current owners GFH Capital, the Italian has effectively been bankrolling the club, funding loan moves for Jack Butland and Connor Wickham as well as paying wages.
The Football League is yet to approve the takeover, however, and though the board is due to meet on Thursday to discuss the matter, a decision may not be made until after a court case next week in Italy revolving around alleged non-payment of import duty. Cellino denies any wrongdoing.
The situation has left the 57-year-old businessman frustrated and he told the Sun: "It has been a black hole and things cannot carry on like this.
"I have to wait for the decision of the Football League before I put any more money in.
"I want to help Leeds and get to work but I cannot do any more until I am the owner."
A view of Elland Road
He added in the Guardian: "I have been humiliated quite enough so far. At this point I wonder why I have been treated so badly after paying the salaries and debts over the past two months.
"I will wait until a decision by the League. If I am not accepted, I will go away silently like I came. I am too old to fight wars which are not mine."
The ongoing uncertainty at the club was reflected on the pitch on Tuesday in a 4-2 Sky Bet Championship loss to Reading.
Afterwards boss Brian McDermott said: "We would love to get some stability at the club so we can move forward.
"Uncertainty over the future ownership has been dragging on for such a long time that there is apprehension around the place and the main conversation is about the ownership."
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