Shares in Leeds United rose 14 percent on Monday morning after newspaper reports that the club was in talks with a Ugandan tycoon over a takeover.
Shares had dropped by 25 percent on Friday after the club issued a warning to shareholders that they could lose out completely in a rescue deal for the club. However, reports linking the club with an £80million takeover by property tycoon Michael Erza have seen the individual share price rise by 3p.
Ezra is said to have contacted Leeds last week and the club are trying to confirm he had the money for a bid, according to The Daily Telegraph. Ezra has previously sponsored Uganda's athletics and Olympic boxing teams.
Leeds United have a deadline of Friday to convince creditors they can stay afloat until the end of the season. Things on the pitch could not get much worse either as the Yorkshire outfit suffered their sixth successive league defeat on Saturday when they lost 2-0 at Aston Villa.
Filed by Ciarán Walsh
