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Articles on football club takeovers and related issues
A statement by Aston Villa owner Randy Lerner has done little to quell rumours of a possible takeover. Lerner has said that he will address the sale issue in the summer as he does not want to distract the club as it ensures that it is safe from relegation.
Lerner has been seen at matches rarely over the past two years. Following a change in his personal life, he spends more time in the United States. He seems to have lost his affection for English football.
In the latest twist in the saga at Leeds, managing director David Haigh has resigned from the board. he was supposed to become chief executive until the end of the season, but disagreements between him and new owner Massimo Cellino led to a threat to sack him last weekend.
Sporting Intelligence provides an alternative interpretation of his resignation statement.
Accounts filed at Companies House have led to new revelations about Leeds United. GFH Capital sold half its stake to an unnamed party between March and June last year before buying it back in December 2013, reaching 85 per cent ownership. This meant that there was no ‘controlling party’ of the club for at least six months.
Massimo Cellino can go ahead with his takeover of Leeds United after he won his appeal against the Football League’s ruling that he had failed the owners’ and directors’ test. The independent QC hearing the appeal ruled that his conviction in a Sardinian court for not paying tax on a luxury yacht he imported from the United States could not be reasonably considered dishonest.
Reading fans have been urged to be patient as the search goes for a new owner of the club to succeed Sir John Madejski. The search has been going on since September when Anton Zingarevich disappeared and some fans have become understandably impatient.
Massimo Cellino”s appeal against his disqualification as a prospective owner of Leeds United was heard in London yesterday, but the independent QC in charge of the appeal has reserved judgment while he considers the arguments put forward. This at least implies that he thought Cellino had a case worthy of further consideration.
A possible takeover of Sheffield Wednesday by a Chinese consortium which has been on the horizon since last summer is likley to be resolved one way or another within the next fortnight.
Former Birmingham director and Hong Kong Sammy Yu, a former player and coach of the Hong Kong team, is on friendly terms with Owls owner Milan Mandaric. Interest appeared to fade when the club appeared to be in some danger of relegation, but they are now almost certain to stay in the Championship.
Leeds United have held crisis talks with both GFH Capital and Massimo Cellino as doubts persist about whether the club can meet this month’s wage bill, Manager Brian McDermott has said that the uncertainty is starting to affect player morale.
Ken Bates is back in the mix at Leeds United as if the situation wasn’t confused enough. Apparently, the cuddly ‘Mr Football’ has an office above the Subway branch near Elland Road and was prepared to put £1.5m into the Sport Capital Consortium.
Massimo Cellino is to appeal against the Football League’s decision to bar him from taking over Leeds United, insisting that he is not a crook. However, he says that Leeds need investment now.
He has already loaned £6m to the club who are believed to face a cash flow crisis. Players’ wages are due this week and owners GFH Capital have not put any money into the club since before Christmas.