Published Date:
26 December 2006
Exclusive
LEEDS UNITED have moved to reassure supporters about their Elland Road future after it was claimed over the weekend that the club's home had been sold.
The perilous state of the club's finances following relegation from the Premiership saw the stadium, United's home since 1919, sold to Manchester businessman Jacob Adler in November, 2004, for around £8.5m.
Former chairman Gerald Krasner secured a 25-year lease for Leeds, with an option of being able to rent the stadium for an additional quarter of a century, and also negotiated a buy-back provision for the club.
On taking over Leeds in January the following year, Ken Bates promised "in the fullness of time" to bring both Elland Road and their Thorp Arch training ground, also sold to Adler for £4.5m in 2004, back into United's hands.
The only public comment by the Leeds chairman on Elland Road's possible future since then came earlier this season when it was revealed, via his programme notes, that a plan to relocate the club shop and construct two hotels in its place was being considered.
However, a report in a national newspaper on
Saturday claimed the stadium had been sold to Teak Trading Corporation, a company based in the British Virgin Islands. No date was given in the report, leaving United supporters worried their club's future at both Elland Road and Thorp Arch was in doubt with several voicing their concerns to the Yorkshire Post ahead of Saturday's goalless draw at home to Hull City.
Leeds chief executive officer Shaun Harvey moved to allay those fears by stressing that the sale, which actually took place in 2005, has made no difference to either the lease or the club's option on buying back both the stadium and training ground.
He told the Yorkshire Post: "We can confirm that the change in ownership in relation to Elland Road actually took place in excess of 15 months ago.
"The change of ownership has no material effect on Leeds United as we still have the same lease as originally entered into, albeit with a different company.
"More importantly, the buy-back provision has also been transferred.
"The club have no concern that the company who now own Elland Road is based in the British Virgin Islands. It makes no difference to the club.
"The ownership of the stadium is noted at the Land Registry and has been on the public record for a significant period of time."
On the field, Leeds have more pressing matters with today's trip to Sunderland offering a chance to bring to an end a five-game winless run.
Saturday's goalless draw with Hull was of more use to the visitors than Dennis Wise's side as it leaves the two clubs level on points in the bottom three but with the East Yorkshire outfit ahead on goal difference.
United came the closest to breaking the deadlock with only a fine save by Boaz Myhill denying Tresor Kandol a goal in the first half.
Wise, disappointed not to claim three points, was at least pleased to see Leeds keep only their third clean sheet in 21 games.
The United manager said: "It is always good to keep a clean sheet and the disappointing thing is that we haven't scored. We would have to say it is two points dropped.
"But we are getting there and we looked solid. We played with a lot more confidence and I was pleased with the way we went about it. We were all disappointed in the dressing room and that tells you all you need to know."
Leeds were watched on Saturday by the manager of today's opponents at the Stadium of Light and Wise added: "Roy Keane is a big character and it is going to be a big game, but we will look forward to it."
richard.sutcliffe@ypn.co.uk
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Location:
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