Leeds owner Radrizzani pulls away from club saviour deal, releases statement, could be tactics

Bari are in a financial mess. So much so they could be quickly pushed into bankruptcy.

By 6pm today, the club have to submit their registration to take part in Serie B and to do so they need to be able to show they have the financial stability to continue operating for the full Italian season.

There had been hope in the form of Leeds United owner Andrea Radrizzani. A saviour deal was being built between the businessman and associates in Italy and it had looked positive for a deal, the Italian media were expecting it.

But La Repubblica report that the discovery of new debts, making the siutation worse, has been a trigger to Radrizzani pulling out of a deal.

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A statement from the Leeds United owner has been released: “Unfortunately, the short time available to perform detailed and thorough due diligence, inline with an operation with a high risk profile, force us reluctantly to abandon this idea and challenge. Hopefully the club can be saved and we remain available to evaluate future collaborations and investments.”

That last part would suggest that Radrizzani hasn’t completely walked away from a deal and there may be tactics at play to try and reduce the debt or get support from elsewhere. The Leeds boss will want the best deal possible for his investment.

Should the takeover end up back on then it’s an interesting scenario for Leeds United and would lead to partnership opportunities between the two clubs.