The Football League has confirmed that Massimo Cellino has lodged an appeal against its decision to block his takeover of Leeds United.
Cellino heads Eleonora Sports, which agreed to buy a 75% stake in Leeds from Gulf Finance House Capital in February.
His bid was disqualified on Monday, after he was found guilty of not paying import duty on a yacht in Italy.
He told BBC Sport he intended to appeal against the ruling, saying he felt a "responsibility" to do so.
A Football League statement read: "The Football League can confirm that the legal representatives of Massimo Cellino have lodged an appeal against the League's decision that he is subject to a disqualifying condition under its owners' and directors' test."
The statement added that the appeal would take place "at the earliest opportunity".
Over the last two months, Cellino has invested around £6m in Leeds, who are losing more than £1m per month.
The club's wage bill is due to be paid in the coming days and BBC Radio Leeds understands that owners GFH believe that Cellino is contractually obliged to pay it.
Brian McDermott's side, who were beaten 4-1 at Bournemouth on Tuesday, face Doncaster at Elland Road in the Championship on Saturday.