Massimo Cellino has reportedly formally appealed against the Football League's decision to block his takeover of Leeds United.

The Italian businessman had originally agreed with the Championship outfit to secure a majority stake in the club.

However, the 57-year-old was recently found guilty of tax evasion, which resulted in him failing the Football League's Owners' and Directors' Test.

Following the verdict, Cellino's UK lawyers revealed that they would appeal the decision as the Italian believes that Leeds are in desperate need of investment.

According to PA, an appeal has formally been made, with proceedings due to get underway within the next two weeks.

Cellino insisted that he was not a "dishonest person" following the decision.