CORPORATE SHAKEUP AT ELLAND ROAD
1st November 2015
Former Barcelona midfielder Roberto Dinamite has completed a takeover of Leeds United, acquiring both the 75% stake held by Massimo Cellino's Eleonora Sport and the 25% share held by Bahraini investment bank GFH Capital.
The value of the takeover is thought to be in the region of £80m, with a reported £3.5m being pumped into the club to finance a refurbishment at Thorp Arch, the club's training ground. The deal was put on hold whilst Dinamite sought permission from the site owner for the renovation, and was finalised this morning.
Head Coach Josh Townend will also be given the more traditional Manager role, giving him back control of transfers and contract negotiations. Whilst this may be welcome news for the 40-year-old, whose over-achieving side sit 4th in the Championship table after 14 games, slightly concerning will be the speculation over his future, with sources close to Roberto Dinamite saying he is looking to hire his own manager.
However, the same sources say that Dinamite also admits he's been impressed by the start the team have made to the season, and would be willing to give Townend a few more games to demonstrate his managerial credentials whilst he makes a decision.
Townend is thought to have the backing of the Leeds fans. Gary Cooper, chairman of the Leeds United Supporters Trust (LUST) stated earlier this week "There is a consensus amongst our members that Josh Townend has done a fantastic job at the club so far. It's the first time in nearly five years that we're beginning to dream of a top six finish and we feel that keeping him in charge is imperative in order for the club to continue to move forward"