Potential Investor Moves Closer
By Kevin Markey
Updated Tuesday, 26th June 2012
Leeds United have moved a step closer to a takeover after granting a due diligence period to a potential investor.
The Leeds United Supporters Trust confirmed at the end of May that the Whites were in talks with two interested parties regarding a possible takeover at Elland Road.
It appears those negotiations have progressed, with the club confirming it has granted permission to an unnamed group of potential investors to conduct due diligence.
A statement on the club’s official website, www.leedsunited.com, read: “Further to our previous statement of 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.”