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Leeds United: Owner Massimo Cellino sells 50% stake to Italian businessman

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Leeds United owner Massimo Cellino has sold 50% of his stake in the club to Italian businessman Andrea Radrizzani.

Radrizzani has purchased his stake through his company Aser Group Holding.

The 42-year-old, who co-founded sports media agency MP & Silva in 2004, has been in talks to invest in the Championship club since August 2016.

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

Cellino took over at Elland Road in April 2014 but the 60-year-old has received three Football Association bans in that time.

In December 2016 he was banned from all football activities for 18 months and fined £250,000 for breaching the FA's football agent rules over the sale of Ross McCormack to Fulham in 2014. He is appealing against the punishment.

Radrizzani added: "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.

"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.

"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."

Leeds are fifth in the Championship, seven points off the automatic promotion places.

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