CAGLIARI, Sardinia (AP) — The sale of Cagliari to an American consortium appears to have fallen through, with club president Massimo Cellino yet to receive any money.
Cellino announced an agreement last month after a meeting in Miami with Luca Silvestrone, a representative of the investors who have not been identified — even to Cellino himself.
"I haven't heard from anyone or seen any money since that day," Cellino told Thursday's edition of regional newspaper L'Unione Sarda. "For that which I know, based on what I have seen, there is no American consortium. Neither consortium, nor plan. I always thought Silvestrone just represented himself.
"The fans wanted me to meet him and I met him. But there is no money and not even any investors."
Cellino, who recently took over Leeds, has been in charge at Cagliari for 22 years but has been frustrated in his efforts to build a new stadium for the Sardinian club.
"Now I will sell Cagliari to someone who wants to show their face," he added. "We have to do it soon, because there is a whole season to plan and a stadium to sort out."
Cagliari left the Stadio Sant'Elia toward the end of the 2011-12 season after a dispute with its city council over renovating its stadium, and several matches were played in Trieste — nearly 1,000 kilometers (600 miles) away from the Sardinian city.
Continue reading this story on the...