BusinessBusiness RecoveryLeeds United gets another seven days

Leeds United gets another seven days

Embattled Premiership side Leeds United has been given a further seven days to try and find a buyer.

Link: Another extension for Leeds

Bottom of the Premiership and £83m in debt, Leeds is in advanced negotiations with a Yorkshire-based consortium willing to buy the club.

The consortium’s offer was rejected but apparently a second, larger offer is now on the table.

One figure mentioned was £20m.

In a statement to the Stock Exchange, Leeds also said creditors had agreed to extend the ‘standstill agreement’ so that the takeover can be completed.

Consortium representative Gerald Krasner said: ‘I can confirm that negotiations are at a more advanced stage.’

Last month, Leeds managed to raise £5m to avoid administration, largely through a 25% wage deferral by the players.

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