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The ex Forest Green Manager has NO input who is signed. He just has to train and coach them.

Cellino and Salerno identify the player coming in and do all the contracts.

Thanks for clearing that up, We are Leeds.

I'm sure this will be a success.

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BBC Sports Journo Adam Pope Interviewed Cellino, during the interview Massimo claimed that Leeds are now debt free and have £20 million working capital plus the unbudgeting income from the sale of Ross McCormack https://twitter.com/APOPEY

Quote a turn around from the financial news from LUFC just 2 months ago. Seems we've done a deal with GFH to free up cash, not sure I'd want to get any further into bed with that lot and that only partly explains our latest financial position.

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Thanks for clearing that up, We are Leeds.

I'm sure this will be a success.

Yes. It's a car crash waiting to happen. The ever discerning Leeds support barely seem to be able to muster a question of complaint at what's happening. Very obvious that their club is being fleeced. Oh well, giggles for the rest of us.

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From the YEP:-

Massimo Cellino says he has reached a deal with former Leeds United owner and shareholder Gulf Finance House which will rid the club of debts owed to the bank and its associates.

In an interview with the BBC, Cellino said he and GFH would sign an agreement in the next few days significantly restructuring the millions of pounds owed by Leeds since his takeover of the club in April.

Cellino’s purchase of a 75 per cent stake in United cost the Italian businessman £11m in cash but he also agreed to inherit and repay £24m of short and long-term debt.

Some £10.5m was due to be repaid by the turn of this year with the remaining £13.5m owed in staggered payments by December 2017.

Cellino acquired majority control of Leeds at a time when the club were losing more than £1m a month but he has introduced heavy cost-cutting measures at Elland Road in his short time as owner, including heavy redundancies among United’s staff.

As part of the latest agreement, GFH will continue to hold a 10 per cent shareholding in United with club chairman Salah Nooruddin and Bahrain’s International Investment Bank (IIB) retaining the remaining 15 per cent.

Nooruddin and Salem Patel are both on the board at Elland Road as representatives of GFH.

Cellino told the BBC: “I can tell you I have done a deal with GFH to sign in a few days’ time which sorts out the historic debt. We are all happy.

“I remain 75 per cent in charge and GFH are happy that their share is now worth something.”

Exact details of the agreement are not clear but the YEP understands that the deal will wipe out a large portion of the £24m debt while changing the circumstances activating repayment of the remaining cash.

Cellino, who said that United now had £20m of working capital available and would push ahead with plans to buy back Elland Road from the stadium’s private owners, has been fighting financial problems from the day of his takeover on April 7.

A formal redundancy process was launched in May and numerous staff have left the club, including members of United’s backroom team.

The YEP revealed yesterday that goalkeeping coach Andy Leaning has lost his job and is in the process of settling a rolling contract.

Under-16s coach Leigh Bromby is also understood to be leaving his position at Thorp Arch after the club opted not to renew his deal.

Leeds, however, are in the process of making a stream of additions to their first-team squad with the new season four weeks away.

The club have already finalised the signings of goalkeepers Stuart Taylor and Marco Silvestri and midfielder Tommaso Bianchi.

Swiss defender Jonathan Rossini trained with United at their pre-season camp in northern Italy today ahead of a move from Italian side Sassuolo, and Catania forward Souleymane Doukara is expected to line up with the squad tomorrow with his transfer also pending

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Yes. It's a car crash waiting to happen. The ever discerning Leeds support barely seem to be able to muster a question of complaint at what's happening. Very obvious that their club is being fleeced. Oh well, giggles for the rest of us.

The club has been systematically fleeced since 2007, during that time there have been various groups set up to challenge the club (LLHB, T4K for example & to a degree LUST) protest marches, boycotts, protests at the stadium etc, I think the whole dissidents, moron, sickpot thing must have passed you buy.

The club was financiallly crippled before Cellinos arrival and the team was abject. It's to early to say if he'll be able to improve the situation or not. I'd accept there has to be concerns over some of his decisions and his past but he'll have to stand or fall by the decisions he' s made at LUFC. I haven't see one piece of evidence to suggest he's fleecing the club yet, we'll know more when we see the accounts.

On the Leeds fans not making their feelings known to Cellino I think you'll find that in the past he was chased round the West Stand Car Park by Leeds fans and he had to be rescued by West Yorkshire Police.

When we wanted rid of Bates it took time to realise that he wasn't interested in fans opinions he just wanted their cash, fans voted with their feet and Bates needed out. We've been through it before and know we can do it again if we have to.

Edited by repeat_offender
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STRIKER JOINS ON LOAN
Souleymane Doukara joins up for the season...
souleymane-doukara_1jp74tavmtqju13f45in8
Catania striker Souleymane Doukara has joined the club on loan for the 2014/15 season, with a view to a permanent deal at the end of the campaign. The France born Senegalese forward spent last season on loan at Juve Stabia in Serie B making 20 appearances, scoring six goals in the process. Doukara, who can also operate as a winger, has experience in Italy’s top league with his parent club which came during the 2012/13 season. The 22-year-old striker is United’s fourth new arrival of the summer and head coach David Hockaday said: “I’d like to welcome Souleymane to Leeds United. “He is a big, powerful and fast player with a hunger to succeed. He is exactly what we need at the club.”

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