The club, which recently hired Ernst & Young turnaround specialist Trevor Birch as chief executive, has now hired Robin Binks, a corporate finance partner from Deloitte, to advise it on the restructuring of its £80m long-term debt.
Leeds is said to be close to securing interim financing to ensure that it has sufficient working capital to see it through to the end of the season, according to the FT.
Allan Leighton, the new chairman of BSkyB’s audit committee, and deputy chairman of Leeds United, has reportedly donated £2.2m of his own money to help the club, while another £2.2m has been donated by a mystery fan.
In June, Leeds United unveiled the worst-ever results for a UK football club with losses of £49.5m.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies