MILAN (AP) — Cagliari president Massimo Cellino has agreed to sell the Serie A club to an unidentified American consortium.
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.
"I am very happy," Cellino told Italian news agency ANSA on Wednesday after a meeting in Miami. "Now it will be up to them to fight with bureaucracy. I hope that they let them do what they didn't let me. ... We have reached an agreement and we have drafted a letter of intent providing for their entry into the company."
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 600 miles awayy.
The club moved into Is Arenas for the following season but was plagued by problems with the stadium. Several matches were played behind closed doors because of safety problems.
Cellino also suspended himself after a match had to be forfeited when he attempted to defy orders to play in an empty stadium.
Cagliari moved back into Sant'Elia for the most recent season but the stadium's capacity was limited to 5,000 fans because of reconstruction. The club finished 15th, seven points clear of the relegation zone.
Cagliari will become the third club in Italy's top tier to be under foreign ownership. Roma is already controlled by Americans, while Indonesian entrepreneur Erick Thohir and two associates took charge at Inter Milan last year.