Leeds get seven day extension - Sky Sports 19/1/04
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LEEDS GET SEVEN DAY EXTENSION
Leeds United have confirmed to the Stock Exchange that they have agreed with the club's principal creditors to extend their standstill agreement by another week.
The club, who are more than £80 million in the red, have been holding talks for the last few days and have been given another seven days to raise the £5 million to see them through until the end of the season.
Leeds also confirmed that the agreement could be extended by a further two weeks, should they achieve certain financial goals in the next seven days.
A club statement read: "The board of Leeds United PLC announces that the company's principal finance creditors have today agreed to extend the standstill period (announced on 4 December 2003) by a week, to midnight on 26 January 2004.
"This agreement also provides for a further two week extension to 6 February 2004, conditional on achievement of certain financial and other covenants."