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Massimo Cellino has resigned from his post at Leeds United.

Mr Cellino said "It is with great sadness and frustration that I have to take this step, however I abide by the Football League's decision to temporarily disqualify me from this great football club and will return in April in good health and good spirits.

"I have done my best for a club and fans that I hold close to my heart and it is now financially much stronger than it has been for a long time. It will continue to thrive and I am sincerely looking forward to returning very soon."

Still Marching on Together.

Edited by WE ARE LEEDS
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@PhilHayYEP: Andrew Umbers will be temporary chairman of Leeds in Cellino's absence. #lufc
@PhilHayYEP: Chief operating officer Matt Child will also have control of day-to-day operations at Elland Road. #lufc
@PhilHayYEP: My understanding is that Eleonora Sport will be represented during Cellino's absence by Giorgio Altieri, a Rome-based lawyer. #lufc

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Palermo defender Sol Bamba has sealed his transfer to Leeds United after training with the club at Thorp Arch.

The Ivory Coast international linked up with Neil Redfearn’s squad this morning having finalised a half-season loan at Elland Road.

Bamba, 30, was lined up as United’s first January signing at the start of this week and he has moving to England with a view to a permanent switch in the summer.

Palermo have used him only once this season and Leeds were anxious to improve their options at centre-back with Giuseppe Bellusci set to begin a two-match ban during next weekend’s Championship game at Huddersfield Town.

Bellusci is also facing the threat of a much longer suspension after being charged by the Football Association with racially abusing Norwich City striker Cameron Jerome during a league match at Carrow Road in October.

The former Catania defender denies the charge but will receive a minimum five-match ban if the FA’s disciplinary commission finds him guilty. His hearing is likely to take place next month.

Bamba has prior experience of the Championship following his 18-month spell at Leicester City in 2011 and 2012.

He left England for Turkish side Trabzonspor and moved onto Palermo last summer. Despite agreeing a three-year contract in Italy, Bamba has had next to no involvement in Palermo’s Serie A season.

Leeds head coach Neil Redfearn told the YEP: “He’s trained with us this morning and he looked good and sharp.

“We need competition in that area, that’s clear to everyone, and the key for me is that Sol knows the Championship. He knows this level. He’s been here before with Leicester.

“He’ll be a good addition and we’re hopeful of getting another couple of new faces in next week.”

A deal to bring midfielder Granddi Ngoyi, Bamba’s Palermo team-mate, to Leeds is still awaiting completion, though Ngoyi is yet to arrive in England.

The 26-year-old Frenchman is also in line for a half-season loan at Elland Road and should tie up his transfer ahead of United’s visit to Huddersfield a week tomorrow.

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Seems to be a lot happening re LUFC, looks like GFH want out or will be forced out.

The allegations of misuse of Iranian money to purchase LUFC, Haigh still in the nick, internal communications leaked, I see GFH's share price fell again today.

Leeds being Leeds it's hard to predict where or how any of this will end.

Re Sniffers video, 10 minutes in "Ken Bates says he saved Leeds United, No. Ken Bates did not save Leeds United, the fans did". Nail on head Sniffer.

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No we are not.

Andrew Haigh ‏@AndrewHaigh · 19s19 seconds ago

The winger I was referring to earlier was Martyn Woolford at Millwall. Told that interest is from Redders' side rather than Salerno etc.

Well if Salerno and Cellino don't want Woolford Redders won't get his man

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From the YEP:-

Sport Capital, the consortium which failed with a bid to buy Leeds United last year, has launched a £33m claim for damages against Gulf Finance House over the collapse of its deal.

Sport Capital claims GFH and the bank’s private equity arm, GFH Capital, breached the terms of a Share Purchase Agreement (SPA) reached between them, causing the proposed takeover to fail.

The Sport Capital group - a consortium featuring ex-Leeds managing director David Haigh and Andrew Flowers, MD of United shirt sponsor Enterprise Insurance - spent almost three months attempting to push the buy-out through but saw the deal fall apart in January 2014.

The failure of that bid cleared the way for current owner Massimo Cellino to agree the purchase a 75 per cent stake in Leeds in early February.

GFH, which took control of United in 2012 after securing a 100 per cent stake from Ken Bates, retained control of a 25 per cent share after Cellino’s takeover and is still a minority shareholder at Elland Road

Sport Capital accuses GFH of breaking the terms of the SPA by negotiating the sale of United to Cellino and the Italian’s UK firm, Eleonora Sport Limited.

In a statement issued today, Sport Capital also claims that GFH attempted to sell the Yorkshire club to Khaled Al-Baltan, who was president of Al Shabab football club in Saudi Arabia.

Flowers and Haigh, who has been under arrest in Dubai since May of last year over allegations of financial wrongdoing made against him by GFH, were the two public faces of the doomed Sport Capital offer.

Today’s statement said Cellino was also involved with that bid, along with Terry Riley, the owner of the Ascot Property Group.

Sport Capital’s statement read: “The SPA provided for Sport Capital to fund the working capital of the club throughout the term of the SPA, which they did.

“The SPA also specifically prevented GFH from entering any negotiations or discussions with any other parties regarding the sale of Leeds United shares.

“The legal action against GFH states that the exclusivity of the SPA was breached by GFH which continued to pursue the sale of Leeds United to third parties including Mr Khaled Al-Baltan, then the president of the Al Shabab Football Club in Saudi Arabia.

“It further claims that GFH’s separate negotiations with Massimo Cellino and Eleanora Sport Ltd were in breach of the agreement.”

Sport Capital’s £33m claim has been lodged with the High Court in London and a spokesman said the group was seeking to have GFH Capital’s English assets frozen.

“We expect GFH to attempt to evade service of the claim from their Dubai HQ which will mean ultimately we have to serve this claim on them through diplomatic channels,” a spokesman said.

“Our contention is that the actions of GFH and specifically of (GFH chief executive) Hisham Alrayes delayed and then destroyed the Sport Capital deal.

“This was a deal which would have ensured a sustainable and successful future for the club and that included the almost immediate purchase of Elland Road, the terms of which had been agreed.”

GFH is yet to respond.

The court claim the latest in a long line of exchanges involving Haigh and GFH, exchanges which followed the bitter end of the Bahraini bank’s time as owner of United.

Haigh was imprisoned after GFH accused him of defrauding the bank of around £3m during his time as deputy CEO of GFH Capital.

The 37-year-old quit that post in February of last year but was arrested at GFH Capital’s offices three months later after flying to Dubai to discuss a job offer from the firm. He denies all charges against him.

Haigh was a director of Leeds for the duration of GFH’s time as owner, taking on the role of managing director in July 2013, but he quit that post shortly after Cellino’s takeover following an admission from the Italian that he intended to sack him.

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