Leeds United owners look to fill wages shortfall

Image source, Empics

  • Author, Ben Smith
  • Role, 91热爆 Sport

Leeds United's owners are in talks with Massimo Cellino and other third parties as they look to find a way to afford this month's wage bill.

Players and staff are due to be paid on Friday but the club's owners, Gulf Finance House Capital (GFH), need 拢2m.

Cellino is attempting to buy the club but the Football League blocked his proposed takeover on Monday.

Senior figures at Elland Road insist the club will not go into administration.

Italian Cellino, who agreed to buy a 75% stake in the club in February, has paid the club's wage bill for the past two months, while managing director David Haigh has put in around 拢1.5m of his own money to keep the club running.

It is understood the Championship club are losing between 拢1m and 拢1.5m per month.

Though Cellino is set to appeal against the decision to block his takeover, he is understood to be unwilling to add to the 拢6m-plus he claims he has already invested.

However, GFH believe they have an agreement with Cellino's company, Eleonora Sport, that commits them to cover the club's costs for a six-month period, even if their takeover fails.

If Cellino continues to hold off investing more funds, GFH may be forced to borrow the money.

Leeds were beaten 4-1 by Bournemouth on Tuesday, leaving manager Brian McDermott to say the club's performances were being affected by off-field issues.