Leeds United takeover draws closer LATEST

In a statement, Leeds revealed that an “exclusivity period” had been granted to the unnamed party following productive talks over the past month.

United said the prospective investor had “the financial resources to support the club” and expressed confidence that they would pass the Football League’s Fit and Proper Persons Test, a test designed to check the suitability of major shareholders in English teams.

Mention of the Fit and Proper Persons Test will heighten suggestions that the party involved intend to buy a large stake from chairman and owner Ken Bates, raising the prospect of a full takeover at Elland Road.

A statement issued by Leeds tonight read: “Further to our previous statement of the May 29, Leeds United can confirm they have granted an exclusivity period to enable a potential investor to carry out the appropriate due diligence.

“It is anticipated this will be a fairly straightforward process.

“A confidentiality clause prevents the club from making any further comment. However, our discussions with them have left us very comfortable that they have the financial resources to support the club and that they will have no issues in satisfying the requirements of the Football League’s Owners and Directors Test, unlike many of the previous approaches we have had to endure.

“We will not be making any further announcements in the near future.”

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