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SBD Global/May 5, 2014/Franchises

League Championship Side Leeds United Facing Debt Demands From Sports Capital

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League Championship side Leeds United was "issued with a winding-up order" just 17 days Massimo Cellino "completed his takeover at Elland Road," according to Simon Mullock of the London DAILY MIRROR. Sports Capital, a company linked to former Leeds Managing Director David Haigh, claims it is owed £1M ($1.7M) by Leeds. Legal papers were "lodged at the High Court on April 25 after Leeds failed to respond to demands" for the debt to be honored. Leeds, which is currently losing a "staggering" £1M a month, is also "under pressure to settle other outstanding liabilities." Haigh himself is owed £600,000 ($1M), which was "payable following the completion of the takeover in April." Leeds shirt sponsor Enterprise Insurance Managing Dir Andrew Flowers "is owed in the region" of £100,000 ($168,700). Former Leeds CEO Paul Hunt is "still waiting" for a £70,000 ($118,100) debt to be settled (DAILY MIRROR, 5/3).
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