Telegraph | Sport | Leeds look Stateside for injection of further funds
Leeds look Stateside for injection of further funds
By Richard Bright
(Filed: 26/10/2004)
Leeds United, who have sold their training ground and entered into an agreement with a casino chain in the last month in a desperate attempt to reduce crippling debts, are now hoping to secure a multi-million pound rescue package with an American company.
A delegation of Leeds officials will travel to the United States this week to continue talks which are already at an advanced stage with Nova Financial Partners regarding a proposed injection of funds into the ailing Championship club whose debts have been reduced from over £100 million to less than £30 million in 18 months.
The deal between the Leeds chairman, Gerald Krasner, and the American group, headed by the Miami businessman Burl Sheppard, will include Elland Road being sold and then leased back to the club in the same way as the Thorp Arch training ground.
Sheppard is believed to want a controlling interest in Leeds in exchange for a £20 million investment. Melvin Helme, the Leeds financial director, said: "We are talking to a number of people at this stage and things are at an advanced stage. We will look at our options and decide what is best for the club."
Leeds look Stateside for injection of further funds
By Richard Bright
(Filed: 26/10/2004)
Leeds United, who have sold their training ground and entered into an agreement with a casino chain in the last month in a desperate attempt to reduce crippling debts, are now hoping to secure a multi-million pound rescue package with an American company.
A delegation of Leeds officials will travel to the United States this week to continue talks which are already at an advanced stage with Nova Financial Partners regarding a proposed injection of funds into the ailing Championship club whose debts have been reduced from over £100 million to less than £30 million in 18 months.
The deal between the Leeds chairman, Gerald Krasner, and the American group, headed by the Miami businessman Burl Sheppard, will include Elland Road being sold and then leased back to the club in the same way as the Thorp Arch training ground.
Sheppard is believed to want a controlling interest in Leeds in exchange for a £20 million investment. Melvin Helme, the Leeds financial director, said: "We are talking to a number of people at this stage and things are at an advanced stage. We will look at our options and decide what is best for the club."