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.
Write for GiveMeSport! Sign-up to the GMS Writing Academy here: https://gms.to/1a2u3KU
DISCLAIMER: This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of GiveMeSport.com or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. GiveMeSport.com and SportsNewMedia do not take any responsibility for the content of its contributors.
Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE: https://www.givemesport.com/writeforgms