After months of speculation, Leeds United have confirmed this morning that they are in discussions with a number of interested parties about a possible takeover.
The club currently have debts that are believed to amount to €120million and recently reached a 'standstill' agreement with their main creditors to stave off the immediate threat of administration. However Bahrain-based Sheikh Abdulrahman Al-Khalifa has been linked with leading a consortium to save Leeds and this morning the club confirmed that they are in talks.
Al-Khalifa's associates were named as Sheikh Mansour Salah Al-Zamil, who owns oil and gas containers and storage businesses, plus steel and construction companies and huge land interests, and Sheikh Fahd bin Muhammed Al-Sudairi, a businessman who is connected to the Saudi Royal Family.
In a statement released to the London stock exchange, the club said: "The Board of Leeds United PLC confirms that it is currently in discussions with a number of interested parties which are at a very early stage and may or may not lead to an offer being made for the company. The board, which is being advised by KBC Peel Hunt, will issue further statements when it is appropriate to do so."
Leeds have recently improved on the pitch too, with a 1-0 win at Charlton and Saturday's impressive 1-1 draw with Premiership leaders Chelsea lifted them off the bottom of the table.
Filed by Rob Wright
