Championship Club Leeds United Has New Bid From Former Middle East Investor
Football League Championship club Leeds United Chair Ken Bates has been "offered a second option" to sell his majority shareholding in the club to Middle East investors, according to Duncan Castles of THE NATIONAL. The club has been the subject of takeover discussions for more than 100 days and is regarded by students of football finance as the "last real franchise left to buy." It is understood that one of the members of the Middle East consortium has "gone solo and offered Bates an alternative package in which he would receive 50% of the purchase price now and remain in place at Elland Road as a consultant." The second part of the money would be paid when Bates decides to step down from the position. The Leeds United Supporters Trust has been trying to force Bates to sell his share in full, having launched a "Time For Change" campaign including the "use of advertising space immediately outside the stadium" (THE NATIONAL, 9/20).