Leeds United’s owner Massimo Cellino has declared his interest in buying back Elland Road and according to the Guardian is keen to do so before November.
With McCormack leaving Leeds for a massive £11 million, Cellino want’s to reinvest the money made from that sale into rebuying the clubs stadium which is now double what the club sold it for back in 2004. Elland Road was originally sold for £8 million which helped to save the club during a real financial crisis back in 2004.
Cellino quoted to the Guardian regarding the stadium bid’s progress;
“The money from McCormack cannot be wasted,” Cellino said. “We sent a letter yesterday. My accountant sent a letter because we want our stadium back. I hope it will be done soon. Before November 100%, because in November the rent will be raised.
“We have to pay. I have to buy the stadium, then I have to fix a lot of other things. It’s our house and our home, we don’t want to be guests in our home. I knew that to buy the stadium back we needed £16m.
“I want the stadium, we need to concentrate our energy on the club. It’s not agreed, we have the option to buy it and, if we try after November, it will cost more.”
This would please the fans as they would know the chairman had the right intentions for the club going forward by investing such a large sum of money in re-buying Leeds’ home.