Massimo Cellino's company buys final Gulf Finance House shares to take sole control of Leeds
ByPA Sport
Updated 08/09/2016 at 22:18 GMT
The ownership model for Leeds United has changed following the club's announcement that Gulf Finance House no longer owns shares.
Massimo Cellino
Image credit: Imago
GFH - the Bahrain-based investment bank - bought Leeds from Ken Bates in the winter of 2012 before selling a majority stake to current owner Massimo Cellino in January 2014.
In a statement published on Thursday, United announced the company Cellino operated under, Eleonora Sport, has purchased GFH's shares for 100 per cent ownership.
The move gives weight to the club being taken over in the coming weeks, as per recent reports.
Cellino is thought to want to retain a minority stake if he signs the club over to someone else.
A consortium fronted by Italian Andrea Radrizzani has been named as a potential buyer, with the businessman a guest of Cellino at a number of games.
The news comes as unhappy Leeds fans continue calls for Cellino to sell the club, following lengthy protests against the ownership.
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