Leeds United are sceptical of the ability of their potential saviour Sheikh Abdulrahman Bin Mubarak Al Khalifa to organise sufficient funds to assist them, as they fight to avoid going into administration.
Leeds, who have debts of about £82million, have until Monday to find a buyer to stave off the threat of administration, and amid speculation that the Sheikh was ready to step in, their share price rose by 40% this morning.
However the club are not convinced he has the money and said in a statement: "The directors of this club note this morning's press coverage regarding Sheikh Abdulrahman Bin Mubarak Al Khalifa. The directors reconfirm that they are in continuing, constructive discussions with a number of parties regarding proposals to purchase the company's business and assets or to inject funds."
"None of these interested parties' proposals contemplates an offer for the company's shares. In addition the directors confirm that, to date, the company has not received any satisfactory evidence from Sheikh Al Khalifa that funds exist to fulfil any proposal currently under discussion between him and the company."
Should Sheikh Al-Khalifa come up with the money, it would not only save Leeds from administration, but could also ensure that stars like Mark Viduka, Paul Robinson and Alan Smith would not have to be sold.
Filed by Rob Wright
