Kells In Takeover Link

Last updated : 03 May 2007 By Kevin Markey
But, according to a leading football finance expert, administration need not necessarily sound the death knell for the fallen Premiership giants.

Professor Tom Cannon, of Kingston Business School, told PA Sport: "It would be no surprise to see Leeds driven into administration, simply to call a halt to the financial demands currently on them and to restructure their debt.

"It's all very well Peter Ridsdale saying it has been four years since he was in charge, but the truth is that it takes time to get rid of such massive debt.

"A number of clubs have gone into administration and come out of it in a healthier position. They have restructured their loans and persuaded people like the Inland Revenue to take 25 pence in every pound.

"One of the best examples of that restructuring is Leicester City. They not only drew a line under their finances, but also persuaded a number of their former players, such as Gary Lineker, to put money into the club and save it from going out of business in 2002.

"The case of Leicester illustrates what can be done, and that going into administration could provide a better platform for recovery for Leeds United."