Trust claims United takeover bid has fallen through

Ken Bates.
Ken Bates.

LEEDS United Supporters Trust believs the proposed takeover of the club by a Middle Eastern consortium has collapsed.

The Trust claim the group have withdrawn from talks with current owner Ken Bates after failing to conclude a deal.

A statement on the trust’s Facebook page it could “confirm that the deal to buy the club has now collapsed”.

United have been in negotiations with the consortium for more than two months, but the club has made no comment on the proposed takeover since announcing on June 26 that a consortium were performing due diligence on the accounts at Elland Road.

Concerns about the deal have been raised after manager Neil Warnock revealed that he did not have sufficient funds to push through a deal for a new striker despite the club receiving £1.5 million up front as part of a £3 million deal to sell Robert Snodgrass to Norwich.

He has since placed two more players, Danny Pugh and Robbie Rogers, on the transfer list in a bid to raise cash to further his rebuilding plans for the season ahead.