"On Tuesday morning we made a formal offer to buy Leeds and agreed terms and conditions and it would appear today the conditions have changed,'' said Sainsbury. "They said [it was because] of proof of funds but they were offered a £500,000 non-refundable deposit on Wednesday. If that money didn't arrive they could tear up any agreement we had.''
Sainsbury added on BBC Radio Five Live: "We are the right people to take over the club. We will deliver proof of funds. We are not giving up hope, we still have a team in Leeds sitting there waiting to do a deal. I'd like to deliver proof of funds tomorrow, but more realistically it will be on Monday.''