It is January 2014 and Brian McDermott is in charge of a mid-table, mediocre Championship side in Leeds United, still reeling from the financial disasters that saw the club bankrupt in 2004.
The club is losing money, the ownership is a mess, Elland Road is not under the control of the club and fans have fallen out of love with their beloved Leeds. But a takeover could be about to change that.
Massimo Cellino, the notorious ‘King of Corn’ tries to buy Leeds in January but amid court cases back in Italy, Cellino failed the Football League’s owners test and had to wait until the summer to buy Leeds.
Eventually, Cellino is inserted as president. Next comes a tumultuous ownership including superstition, a trigger happy approach to managers, 14 new signings in his first season and massive operational cuts.
Massimo Cellino during his time at Leeds.
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Massimo Cellino shares just how much Leeds were losing
Just six months into his ownership, Cellino was disqualified after being found guilty of tax evasion in Italy. He returned in the summer of 2015, only to be banned again. Yet, he continued his ownership of the club.
Promising to sell, u-turning that decision, banning Sky Sports, watching games in fan sections – the crazy Cellino period ended when he sold 50% to Andrea Radrizzani in January 2017, and the rest that summer.
A closeup image of the Leeds United badge on a corner flag at Elland Road
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Speaking to L’Unione Sarda, Cellino shared just how bad the financial issues were at Leeds when he joined in 2014, saying Leeds were losing £100,000 a day or an enormous, £36.5m a year before his cuts.
“I arrived at Leeds and found a club that was losing £100,000 per day. I couldn’t sleep at night because I was obsessed with this. In a year, I dragged it down to losses of £7m, then a year later we broke even.
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“The third we were running a profit. I cleaned everything, I paid off all the Leeds debts. I sold the club for a little less than I had paid to buy it. Didn’t have the finances to compete. Risked doing myself real harm.”
Massimo Cellino at Bolton v Leeds.
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What Massimo Cellino’s cuts looked like at Leeds United…
Cellino doesn’t go into detail in his interview, but he stripped Leeds back. From a Champions League semi-finalist just over a decade before, Cellino turned a Championship side into a Non-League style club.
Stephen Warnock shares how the jacuzzi’s and ice baths were no longer used, how players were forced to buy their socks and slips, and you had to bring in a packed lunch as the canteen was no longer supplied.
Whether Cellino’s cuts were as necessary as he claims, who knows. One thing is for sure, Cellino’s time at Leeds was a rollercoaster and even now, Cellino says he is owed money by Radrizzani for buying Leeds.