Fit & Proper Persons

The period between 2012 and 2018 at Leeds United was marked by turbulence, uncertainty, and mismanagement. A club with a storied history, including being one of England's elite in the 1960s and early 1970s, Leeds United had been languishing outside the Premier League since their relegation in 2004. The financial mismanagement that had caused the club’s dramatic fall from grace continued to plague it during this period, as Leeds was passed from one ownership group to another, with each promising a brighter future but often delivering more chaos.

Ken Bates and the Sale to GFH (2012–2013)

By 2012, Leeds United was in the hands of Ken Bates, a divisive figure in English football. Having taken over the club in 2005, Bates had steered Leeds through the financial wreckage of administration and several seasons in League One, returning the club to the Championship. However, his stewardship had also been marked by acrimonious relations with fans, a lack of significant investment, and the continued murkiness of Leeds' financial structure.

In May 2012, after months of rumors, Bates confirmed he was in talks to sell the club. The buyer was Gulf Finance House (GFH), a Bahrain-based investment bank, whose arrival was heralded as the end of the Bates era and the start of a new chapter of investment and ambition. In December 2012, GFH Capital officially completed the takeover, acquiring a 100% stake in the club.

Initially, GFH promised long-term planning, but cracks soon appeared. While they pledged stability, it became clear they had purchased the club with the intent to sell it quickly for a profit, rather than as long-term custodians. Their time in charge was marred by poor financial management and increasing fan disillusionment. It was reported that GFH struggled with cash flow issues and, by mid-2013, had begun looking for an exit strategy. Ken Bates had been retained as club president after the sale but was removed from this role in July 2013 after a dispute over costs, formally ending his association with the club.

The Massimo Cellino Era (2014–2017)

Enter Massimo Cellino, a controversial Italian businessman, who first emerged as a potential buyer of Leeds in late 2013. Cellino was already well-known in Italy as the owner of Serie A club Cagliari, where he had earned a reputation for his volatile and hands-on approach, frequently hiring and firing managers.

After months of negotiations, GFH agreed to sell a 75% stake to Cellino's Eleonora Sport in February 2014. However, Cellino’s takeover was immediately met with complications. The Football League’s "fit and proper persons" test, designed to prevent unsuitable individuals from owning clubs, blocked the takeover in March 2014 due to Cellino’s conviction for tax evasion in Italy. Despite the ruling, Cellino appealed and, after an independent QC ruled in his favor, was allowed to complete the purchase in April 2014.

Cellino’s reign at Leeds United would be defined by chaos, unpredictability, and instability, both on and off the field. He quickly became infamous for his impulsive sacking of managers—Brian McDermott, who had been in charge during the sale process, was dismissed in May 2014, only to be reinstated days later. Within months, McDermott was replaced by Darko Milani?, whose tenure lasted just 32 days before Neil Redfearn was given the job. This pattern continued, with six different managers taking charge of Leeds during Cellino’s time at the club, a period where the team struggled to make any meaningful progress in the Championship.

Off the pitch, the club’s finances remained precarious. Cellino’s confrontational style alienated key figures within the club and the Football League. In December 2014, Cellino was banned from running Leeds after another tax evasion conviction, this time for failing to pay VAT on a yacht. The Football League barred him from having any role in the club’s day-to-day affairs until his ban expired in 2015, but his erratic presence was still felt as he continued to wield influence.

Despite his passion and investment, Cellino’s tenure failed to bring the stability or success fans craved. Leeds remained stuck in the Championship, with mid-table mediocrity becoming the norm. Cellino’s running of the club drew intense scrutiny from supporters and media alike, leading to protests calling for his departure.

The Arrival of Andrea Radrizzani (2017)

In January 2017, a glimmer of hope arrived in the form of Andrea Radrizzani, another Italian businessman, who purchased a 50% stake in Leeds United. Unlike Cellino, Radrizzani presented himself as a more measured, forward-thinking owner, with a clear plan for the club’s future. The contrast between the two was stark. While Cellino was fiery and unpredictable, Radrizzani was calm, ambitious, and focused on modernizing the club.

By May 2017, Radrizzani had completed a full takeover, purchasing Cellino’s remaining shares. One of his first major moves was to buy back Elland Road, the club’s iconic stadium, which had been sold by a previous ownership group to ease financial troubles in 2004. This act alone endeared him to fans, as it symbolized a commitment to restoring the club’s foundations.

On the sporting side, Leeds had shown signs of promise under manager Garry Monk, but after Monk’s unexpected departure in May 2017, Radrizzani appointed the relatively unknown Thomas Christiansen as head coach. Christiansen’s reign started brightly, but as results deteriorated in early 2018, he was sacked, and former Barnsley manager Paul Heckingbottom was brought in as a replacement. However, Leeds’ 2017-2018 season ended in disappointment, finishing 13th in the Championship.

Despite these managerial challenges, Radrizzani's ownership marked a clear shift in direction. His leadership was pragmatic, and the club began making structural improvements, both commercially and on the pitch. He also sought external investment and modernized the club's operations, signaling that Leeds was on a more sustainable path.

For a full history of this period see “2004-17 - Down Among The Deadmen” on OzWhite's History of Leeds United

Period Summary	Division	Pos (Pts)	FA Cup	Lg Cup	Europe	Other
2012-2013 Details	Championship	13 (61)	R5	QF	-	-
2013-2014 Details	Championship	15 (57)	R3	R3	-	-
2014-2015 Details	Championship	15 (56)	R3	R2	-	-
2015-2016 Details	Championship	13 (59)	R5	R1	-	-
2016-2017 Details	Championship	7 (75)	R4	QF	-	-
2017-2018 Details	Championship	13 (60)	R3	R4	-	-