Massimo Cellino, the owner of Leeds United, has revealed that the sale of his Serie A club Cagliari has fallen through, reports the Yorkshire Evening Post.
An American investment group, led by Italian businessman Luca Silvestrone, was expected to buy the club last week.
A fee of 80 million euro was agreed between the two parties after a meeting at Cellino’s home in Miami, with a 10 million euro deposit to made by yesterday at the latest.
However, Cellino has said that no payment has been received and has received no further communication from the group.
“There is no American investment group interested in acquiring Cagliari,” The Leeds owner said to Italian newspaper Unione Sarda.
“I have not seen or heard from anyone since last Wednesday’s meeting with Silvestrone and Dan Meis in Miami.
“No down payment of 10million (euro) has been received.
“From what I can gather they only can be found through ‘Missing’.
“I only decided to meet Silvestrone because I was asked by a number of fans to do so.
“I always had the impression that Silvestrone was just representing himself and not a group.”
Celluno bought Cagliari in 1992 and has been looking to sell the club since taking over at Elland Road earlier this year.