Leeds powerbrokers hold survival summit as club fights to avoid financial meltdown

By Matt Lawton for the Daily Mail

Published: 22:19, 27 March 2014 | Updated: 00:51, 28 March 2014

Leeds United’s powerbrokers were meeting in London on Thursday night in a bid to avert financial disaster.

The troubled Championship club are in danger of going into administration because of a dispute between owners Gulf Finance House Capital and prospective owner Massimo Cellino over whose responsibility it is to pay £1.5million in wages for players and staff on Friday.

GFH were due to meet Cellino last night in an effort to convince him that he agreed to run the club’s finances for six months even if the Football League blocked his takeover.

Trouble: Cellino, 57, heads Eleonora Sports, and had agreed to buy Leeds in early February

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All over? Massimo Cellino's proposed takeover of Leeds United has been blocked by 'unanimous decision'

Crisis club: Leeds are in turmoil on and off the pitch - and they could be docked 10 points

Cellino officially lodged his appeal with the Football League yesterday after being denied the opportunity to take a 75 per cent controlling share at Elland Road because of a conviction for tax evasion in Italy.

But he has said he will not invest any more in the meantime and last night Leeds managing director David Haigh was desperately trying to find a resolution.

The Football League confirmed the next stage in the process with the statement: ‘The Football League can confirm that the legal representatives of Massimo Cellino have lodged an appeal against The League’s decision that he is subject to a disqualifying condition under its Owners’ and Directors’ Test.

'The appeal will be convened at the earliest opportunity.’

Troubled times: Leeds United supporters have stuck behind their team throughout the financial struggles

Ominous? Brian McDermott was sacked by Cellino unlawfully in February and now faces unpaid wages

Disappointing: Bournemouth hammered Leeds 4-1 at Dean Court on Tuesday night in the Championship