Leeds takeover talks 'ongoing'

Leeds get £60m price-tag

Leeds United are holding "continuing, constructive discussions" over the future of the debt-ridden club.

Leeds have until 19 January to find a new buyer following a deadline imposed by the club's major creditors, who are owed a combined £82m.

In the meantime Leeds have admitted the club's future remains in limbo.

In a statement to the Stock Exchange Leeds said: "None of the interested parties' proposals contemplates an offer for the company's shares."

Since December there has been a hefty amount of trading in Leeds shares.

More than 30% of the company has changed hands, with brokers KBC Peel Hunt - who are acting as advisors to Leeds United Plc - involved in the majority of the dealings.

Schroder Investment Management Ltd, who up until recently were the largest institutional shareholder with a stake of 12.1%, have sold 4% - 12.25m shares - of their stock.

During December the share price hit a 20-month high amid talk of a possible takeover by Chinese businessman Xu Ming.

Xu, who owns Dalian Shide, a Chinese first division club, is one of China's richest men, according to Forbes.

Sheikh Abdulrahman bin Mubarak Al-Khalifa is another potential saviour, but former board member Allan Leighton is also believed to be assembling a takeover consortium.

The Sheikh has revealed that his group includes two Saudi businessmen and an Asiatic company.