Leeds United owner Massimo Cellino has agreed to sell Serie A club Cagliari to an unnamed American Investment group.
Cellino, who has owned Cagliari since 1992 has been looking to sell the club since taking a 75 per cent stake in Leeds earlier this year.
The deal had been agreed in principle on Tuesday following a meeting in Miami and is expected to be completed by Friday. It is reportedly worth an initial €10m (£8.12m), followed by a further €67m (£54.4m) subject to the approval of developing the Italian club's stadium.
"I am delighted," Cellino said to Gazzetta dello Sport. "We have reached an agreement and we have signed a letter of intent that foresees their takeover of the club.
"Now they will have to fight with the (Italian) bureaucracy. I hope they will be allowed to do what I wasn't given permission to do (to build a new Cagliari stadium)," he added.
Cagliari finished 15th in Serie A last year, seven points clear of the relegation zone.
Leeds fans will be hoping that by selling the Italian side, the owner can fully focus on the Yorkshire team following a disappointing season which saw them also finish in 15th.
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