Cellino sells 50% of Leeds United

Leeds United owner Massimo Cellino has sold 50 percent of his shares in the club to fellow Italian and businessman Andrea Radrizzani.

Radrizzani - a sports media tycoon - has been in talks to buy shares in the club since the Summer, and has obtained half of the Championship’s side shares through his company Aser Group Holding.

The Peacocks currently sit fifth in the league, and Radrizzani has suggested he will work with everybody within the club to protect the club’s "great heritage and traditions".

"I am delighted and proud to have acquired a 50 per cent stake in such a prestigious football club as Leeds United," Radrizzani said.

"I am excited by the challenge ahead and I will work alongside Massimo and everybody at the club to make Leeds United as successful as possible.

"I am fully aware of the great heritage and traditions of Leeds United and I will endeavour to be a fitting custodian on behalf of the many thousands of Leeds supporters, who are the lifeblood of the club."

"I am making a long-term commitment to Leeds United and will work to bring stability through ongoing investment. I aim to bring sustainable growth. I won't do anything that will put the club's future at risk.

The Italian owns the rights to show Premier League games in South-East Asia until 2019, and also helped broker the sale of Inter Milan to Chinese electronics company Suning, highlighting his potential knowledge of the game.

"Through working in the sports industry for many years, I have developed a great passion for the English game and I am honoured to have become joint owner of one of the country's biggest clubs," he added.

"I am very impressed with the job Garry Monk has done this season and I will do all I can to support him and the team moving forward.

"The responsibility is on myself, Massimo and the executive management at the club to work together over the coming months to provide the best platform and environment for Garry and the team to achieve success.

"My immediate priorities over the coming weeks are to meet with Garry and the team; the club staff at Elland Road and Thorp Arch; supporters' representatives; former players and media."

Cellino - who is due to start a ban on February 1 after breaching agent rules – insisted the deal will help Leeds become a stronger club.

"I have worked hard for the past three years for Leeds United, we are a massive club, and I feel the only way we can get better is for me to bring in a new partner," Cellino told the club’s website.

"Andrea is young and brings a new energy with him, as well as having a good experience in the football media business, which is the future for all clubs.

"I feel that bringing Andrea in as a 50 per cent shareholder to work with me is the best choice we could have made. We will continue building a strong and healthy football club for the future."

Image/GettyImages/MatthewLewis

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