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Breaking news - Leeds Utd in administration

By Rich Baggott
May 4 2007

Leeds united have this afternoon gone into Administration but have announced that Chairman, ken bates will buy the club back immediately. more nes to follow but this also means, Leeds will incurr and immediate 10 point penalty and will finish bottom of the Championship. Administrators have revealed that Leeds United have gone bust with debts of £35m but also revealled they have agreed to sell the club to anew company called leeds United Football Club Limited, with Directors named as mark Taylor, Shaun Harvey and of course, Ken Bates. it has not be revealled what will happen to Elland Road which was previously sold on a buy-back agreement. There is some confusion as to how Ken Bates can buy something he already owns but we understand that Bates did not previously own the club directly - he was appointed Chairman and had a stake in a large investment company that had a financial interest in Leeds.

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