Andrew Flowers, a key member of a consortium hoping to take control of Leeds United, has withdrawn his bid to purchase the club and criticised owners Gulf Finance House (GFH) for apparently favouring the Italian Massimo Cellino, who moves one step closer to securing a takeover deal.
Flowers, the managing director of Leeds’ shirt sponsor Enterprise Insurance and a member of the Sport Capital consortium that saw its takeover bid rejected last month, was locked in talks with GFH in London yesterday but has bowed out of the race to buy United.
The decision paves the way for Cellino to take control of Leeds, the Cagliari owner having already agreed a deal in principle for a 75 per cent stake in the club for a reported €30 million, subject to approval by the Football League in England.
Mike Farnan, the former managing director of Manchester United International and a senior consultant with responsibility for strategic development with Dublin GAA, who had been in talks with Flowers in an attempt to join forces and pip Cellino to the post, intends to continue negotiations with GFH, but the Italian appears a frontrunner to complete a deal despite protests from supporters.
Flowers believes selling the club to Cellino is "not in the interests of Leeds United, its players, staff or loyal supporters".–
Guardian Service
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