Leeds United Takeover: Andrea Radrizzani buys out Massimo Cellino, Garry Monk to stay

Leeds United said in a statement: “Andrea Radrizzani has completed his takeover of Leeds United. 

“Radrizzani, who purchased 50% of the club in January, has acquired the remaining 50% stake from Massimo Cellino and in doing so takes full control of the club.

“Andrea Radrizzani said: ‘I am delighted to have the opportunity to become a custodian of this great football club.

“‘The heritage and history of Leeds United attracted me to the club and having spent time at games and at Thorp Arch, I can see that we are ready to move forward to the next level.

“‘This is a long-term commitment, there is a lot of hard work ahead of us and I am aware of my responsibilities as owner of Leeds United.

“‘I can assure all supporters that everyone at this club will be doing all we can to build a successful team at Elland Road.’

“Andrea Radrizzani also becomes chairman of Leeds United with immediate effect.”

Radrizzani originally bought a 50 per cent stake in Leeds United back in January, with an agreement in place that a full takeover could be completed in the summer.

The Italian businessman buys out Massimo Cellino, who had been in charge of the Elland Road club since April 2014.

Cellino was twice banned by the Football League but remained in charge of the club until today’s full sale.

Radrizzani is an Italian businessman who owns global investment company Aser, which invests in both media and sport.

He also owns MP & Silva, an international sports rights company.

The announcement comes hours after it emerged Garry Monk will be kept on as manager at Leeds for next season.

Monk’s position was in question following Radrizzani’s expected takeover.

Monk guided Leeds to seventh in the Championship this season and was out of contract this summer.

However, he has agreed to extend his terms for a further 12 months.