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Cellino dips into his pocket again?
Friday, 28th Feb 2014 11:09

Having signed Premiership loanee duo Conor Wickham and Jack Butland, has Massimo Cellino dipped into his pockets again to settle the issue of the winding-up order from club-sponsors Enterprise Insurance?

Throughout February rumours have persisted that Leeds under their current structure have not got a pot to pee in, with talk growing that the club would be unable to pay February's wage bill which presumably is due today.

However with the reported million pound a month wage-bill increasing with the addition of Sunderland's Conor Wickham and Stoke's Jack Butland this month these stories of financial meltdown seem wide of the mark.

Unless of course Massimo Cellino is already bankrolling the club behind the scenes, despite his £25m takeover yet to be rubber-stamped by the Football League?

In another story that suggests the financial picture at Leeds isn't as bleak as some might think, Leeds have settled their differences with shirt-sponsors Enterprise Insurance. You may recall that our sponsors called in a seven-figure loan the club borrowed in 2012 and we were due to face a winding-up hearing in Manchester on March 17th.

However the club and sponsors appear to have settled their differences out of court, Solicitor Michael Ozon said "Enterprise Insurance acted responsibly and with great care for the club. It offered to withdraw its petition on the basis that the club agreed to comply with its contractual obligations in relation to the payment of certain monies due. Despite repeated requests, no undertakings were given and the club simply failed to engage. Enterprise was left with no choice but to take action seeking injunctions to compel the club’s owners to comply.”

If, as I suspect Cellino's Eleonora Sport have been putting some much needed cash-flow Into the club, this is a clear indicator that the ownership of the club may be very close to resolution despite the League telling the football world they were still considering their position on Wednesday. I'm sure if Cellino had any gut instinct that he would not pass the "fit and proper" person test, then he would not be pumping funds into the club -if he is our benefactor of course!

Photo: Action Images



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