£10m Owed To The Crown

Last updated : 07 March 2004 By Kevin Markey
Trevor Birch, confirmed that the sum, which forms part of Leeds' reported £81m overall debt , was owed to the Crown.

The Inland Revenue and Customs & Excise had both signed a creditors' standstill agreement that was put in place while Leeds searched for a solution to its financial problems.

Sources close to the club believe Registered European Football Finance, a Guernsey-based firm which Leeds used to buy players on hire purchase, and the Crown are among the less supportive of Leeds' financial plight.

A deal with the Yorkshire based consortium is proving complex as Leeds would stand to lose £20m in revenues if it started the new season in the First Division.

Birch said last week there had been no further developments regarding the club's future and he did not expect to make any immediate announcement.