Cellino won an appeal against the League's decision to block his takeover of the club in April but having considered detailed evidence from the Italian court which convicted him of tax evasion, the governing body decided the 58-year-old was in breach of its Owners' and Directors' test.
"I will respect everything but I am going to appeal and show them that they are wrong," Cellino told Sky Sports News HQ.
"If I am not allowed to run the club I will buy a ticket and sit with the fans but I am not going to run away.
"The fans deserve something very nice - they are very clever because they trust me. I will do everything I can, by the law, to protect this club and I promise them that."