Massimo Cellino: Leeds United owner agrees Cagliari sale

Image source, Getty Images

Leeds United owner Massimo Cellino has struck a deal to sell Serie A club Cagliari to an unnamed American group fronted by Italian businessman Luca Silvestrone, reports 91热爆 Radio Leeds.

Cellino will receive an initial 鈧10m (拢8.12m) payment, followed by a further 鈧67m (拢54.4m) on approval of a project to develop the Italian club's stadium.

The 57-year-old, who bought Cagliari in 1992, hopes to sign the deal on Friday.

Ex-Inter Milan director Tommaso Giulini had seen a 鈧40m (拢32.5m) bid rejected.

The Football League cleared Cellino's takeover at Elland Road in April after initially disqualifying him as a director when he was found guilty of failing to pay import duty on a yacht in Italy.

Since then, the Miami-based Italian businessman has revealed Leeds are losing more than 拢1m per month, and he must focus on "making them healthy again."