Leeds press for takeover decision
Leeds United are pushing for a decision in the next 24 hours on whether Massimo Cellino’s takeover of the club will be approved. They wrote to the Football League’s in-house lawyer, Nick Craig, on Thursday morning.
Article Taxonomy: Takeovers
Articles on football club takeovers and related issues
Leeds takeover in jeopardy
The takeover of Leeds United by Massimo Cellino is now in jeopardy after an Italian court found him guilty of tax evasion. It will now be very difficult for the Football League to approve the takeover. Cellino is going to appeal against the decision.
Football League gives amber light to Leeds takeover
A statement issued by the Football League after its meeting yesterday reads: ‘At its meeting today, the Board of the Football League gave detailed consideration to the proposed takeover of Leeds United by Eleonora Sports Limited.’
Are feeder clubs the wave of the future?
Many Charlton fans were upset yesterday at the replacement of their popular manager Chris Powell by a Belgian coach, although in some cases that was tempered by the realisation that football remains a results business.
There was also resentment at the conversion of Charlton in what is perceived to be a feeder club for the Belgian Pro league leaders, Standard Liege. However, given the state of football finances and the difficulty of achieving success without a wealthy benefactor, could that be the way ahead for smaller clubs? Are Charlton ahead of the curve?
Leeds takeover stalled
The official Football League line on Massimo Cellino’s takeover of Leeds United is that they are waiting for ‘outstanding issues to be clarified’. In practice, this means they are waiting for the outcome of a court hearing in Sardinia on March 18th.
Duchâtelet targets Italian club
Standard Liege and Charlton Athletic owner Roland Duchâtelet has been aiming to add an Italian club to his European network of clubs and it looks as if he might have found a suitable candidate in Serie B Bari, according to Belgian sources.
One time Serie A club Bari were run by the family business Matarrese for 37 years, but they can no longer cope with the club’s debts. These are said to amount to €30m and the club is on the verge of bankruptcy.
There have been no new developments in relation to the Belgian microelectronics millionaire’s efforts to buy a Portuguese club.
Mystery Chinese buyer gets stake in Birmingham City
Yesterday’s BBC Midlands News portrayed a rather perplexed Birmingham City fan standing outside St. Andrews expressing his uncertainty about what was happening to his club. Despite the ‘business as usual’ reassurances from the club following the conviction of owner Carson Yeung for money laundering, his perplexity is understandable.
According to the Financial Times, Yeung sold a stake in the club three weeks ago to a mystery Chinese company whose registered address is a government dormitory. It’s not far off having a company registered at a Salvation Army hostel.
Are Leeds fans ready to accept Cellino?
Are Leeds fans warming to the idea of a Massimo Cellino takeover? It’s difficult to say. Certainly when he signalled his interest in buying Leeds United last month, it’s fair to say that many supporters were not happy.
Amid allegations of corruption and links to the mafia, the Italian, who also owns Serie A side Cagliari, faced boos when he turned up at Elland Road for the first time.
Why buy a football club?
With a few exceptions, notably the Glazers, one rarely buys a football club to make money. As the old saying goes, if you want to make a small fortune, start with a large one and buy a football club. One famous book by a footballer had a chapter headed ‘What the average owner knows about football’ and it was a blank page. ‘The Player’ in the latest edition of Four Four Two has some interesting reflections about mistakes made by owners, arguing those who keep their distance are the best.
Uncertainty about Chairboys sale
The identity of the prospective new owners of Wycombe Wanderers was not identified at a meeting of supporters yesterday as had been hoped. The club is currently third from bottom in League 2, although five points ahead of Torquay in the first of the relegation places.