Mighty Leeds Weblog

Leeds Today: News, Sport, Jobs, Property, Cars, Entertainments & More THE WAITING GAME By PAUL DEWS THE clock was today ticking on the latest takeover bid for Leeds United. The Elland Road board have demanded proof of the funds from the Trans-Atlantic consortium hoping to seize control with a £25m offer. And the YEP also understands that the club have been told to clarify the exact source of the funding by legal eagles. There appears to be a major concern over where the monies are coming from and until the consortium satisfy the United board and the legal team the deal will not go through. The board discussed the proposal at length again at yesterday's board meeting and, while the offer appears to be too good to turn down in monetary terms, have been advised to hold off making any firm decision. In principle the offer would be enough to satisfy the current board and the funds would not only ease United's debt problem but would also provide manager Kevin Blackwe...

BBC SPORT | Football | My Club | Preston | Healy completes transfer to Leeds Healy completes transfer to Leeds Northern Ireland striker David Healy has completed his move from Preston North End to Leeds United. Healy signed for the Elland Road outfit on Friday morning after agreeing personal terms with the club and undergoing a medical. Leeds had several earlier bids turned down but then decided to meet Preston's asking price for the 25-year-old. The fee is understood to be in the region of £650,000 and Healy has committed himself to Leeds until 2008. Healy will go straight into the Leeds team to face Coca-Cola Championship leaders Wigan on Sunday. The Northern Ireland international admitted the two weeks in which the clubs have been wrangling over the fee had been difficult for him. "I never had any doubts. As soon as I knew Leeds were interested I wanted to come here," said Healy. "Everything about it is impressive. The stadium and facilities are...

Guardian Unlimited Football | News | Leeds set for takeover Sainsbury says he'll save Leeds The man spearheading a proposed take-over of Leeds says he wants to save the club's soul Staff and agencies Thursday October 28, 2004 Krasner: "No statement will be issued at the present time" Sebastian Sainsbury warned Leeds United chiefs today they face the stark choice of accepting his £25m bid or selling Elland Road. Sainsbury confirmed he is the leader of a consortium whose bid for the club is being discussed at a specially convened board meeting this afternoon. The 41-year-old banker and restauranteur insisted if he was successful the club's stadium would be saved and he would re-establish Leeds as one of the country's top clubs. "The board has two options," said Sainsbury, "the option we have put forward or the option of selling Elland Road, the pride and joy of Leeds United for the past 85 years." "...

Reuters | Latest Financial News / Full News Coverage Consortium poised to take over Leeds Thu 28 October, 2004 10:09 LONDON (Reuters) - An Anglo-American consortium is poised to take over Leeds United in a deal worth 25 million pounds, according to the Yorkshire Post. The newspaper said on Thursday the deal for the second division side should be completed within the next 24 hours with money made available to buy new players on completion. Leeds, top of the Premier League in January 2002, have plummeted to 17th place in the second division after being forced to sell off their top players to service debts estimated at 80 million pounds. The Post said 23 million would be pumped into the club to wipe out non-scheduled debts and loans if the takeover is successful. It quoted a source close to the new consortium as saying its aim was to make the club debt-free and that it did not plan to sell Elland Road, the team's home ground. Leeds, the dominant club in E...

Leeds United Football Club - United Agree Fee For Healy United Agree Fee For Healy Leeds United have today agreed a fee with Preston North End for Northern Ireland striker David Healy. Both clubs have agreed to keep the transfer fee undisclosed, but the 25-year-old will complete his move to Elland Road today subject to passing a medical and agreeing personal terms. Kevin Blackwell has left supporters in no doubt that he believes Healy would be a key addition to the squad. "David is a player I admire," he said. "He is a proven international player, a proven goalscorer and a player with a good pedigree. He is the type of player this club should be looking to attract if we are to move forward. "David wants to play for this club, so hopefully everything can be agreed quickly." Healy began his career as a trainee with Manchester United but only made three substitutes appearances for them. After impressing former Preston boss David Moyes ...

Yorkshire Post Today: News, Sport, Jobs, Property, Cars, Entertainments & More With funds set to run out in January, selling was only optionDavid Parkin Business Editor AS Leeds United face yet another change in ownership, one is reminded that when it comes to football and business the two just don't mix. With the exception of Manchester United, arguably the world's biggest club, football clubs just can't be run at a profit. When clubs are saddled with massive debts it makes the job even harder. Just paying the interest on those borrowings is tough enough, never mind paying them off. The consortium which bought Leeds United earlier this year succeeded in erasing more than half of the club's £110m of debt. They borrowed £15m from property investor Jack Petchey to help fund the takeover and negotiated to pay in instalments to creditors such as the Inland Revenue and former managers and players owed compensation. But they were still saddled with more than £40...

Yorkshire Post Today: News, Sport, Jobs, Property, Cars, Entertainments & More Leeds to step up move for HealyRichard Sutcliffe THE PAST two-and-a-half years have seen Leeds United undergo so much chopping and changing at the top that fans have been left wondering if Elland Road's main gates had been replaced by a revolving door. During that time, Leeds have had five managers, five chairmen and so many prospective owners that it has been difficult for the club's long-suffering fans to keep pace. United have also slipped from missing qualification for the Champions League by a point in the 2001-02 season to today being in the bottom half of the newly-named Coca-Cola Championship. Everyone from Colonel Gaddafi's son to a lifelong Arab fan professed their interest in taking over a club whose finances spiralled so far out of control that they owed more than £100m as recently as March. But nothing came of the talks. However, today's revelation that a British-Ame...