No-Go Cellino To Appeal

Last updated : 25 March 2014 By .

This after club owners GFH Capital revealed they have not given up hope of Massimo Cellino’s company Eleonora Sport taking over – despite the Football League disqualifying him from purchasing a majority stake.

 The league issued a statement yesterday morning saying that the Italian businessman, convicted last week for tax evasion after not paying import duty on a yacht, had failed their owners and directors’ test.

Several hours later, GFH Capital insisted they were still in talks with the league and Eleonora Sport in a bid “to find a solution that is suitable to all parties”.

The rival 'Together Leeds' consortium, led by Mike Farnan, are monitoring developments and plan to meet towards the end of this week.

In line with league regulations, Cellino is entitled to appeal against the decision within 14 days and the indications last night suggested he will carry on his fight to purchase the club.

Previously, he has said that he would “walk away without a fight” if his takeover was not approved.

The 57-year-old, who has bankrolled the club since the start of February and paid United’s wages for the past two months, said: “I have to appeal. I feel a responsibility to the fans who I am proud to say wanted me.”

“There are hours, not the next few days. Leeds needs help, needs blood, needs money. Leeds can’t wait.

“What worries me is I am the only one worrying about that. It’s embarrassing.

“I am not worrying about the money I have already paid and maybe am going to lose.

“I am feeling embarrassed, ashamed and down.

“It’s not nice to say. I feel lost. I am not a crook. I didn’t come to Leeds to do anything bad.”