Leeds reject takeover bid

Leeds takeover completed

Leeds United have turned down an approach which would have led to the club's second takeover within a month, reports BBC Radio Leeds.

Negotiations had been held between Leeds directors and a new group headed by Yorkshire businessman Steve Parkin.

But it now appears the deal will not now go through.

Chairman Gerald Krasner, who has always said he would not stand in the way of new investment, believes this takeover is not in the club's best interest.

Krasner led the consortium who secured Leeds' immediate future in March with a £30m takeover of the club, who had debts in excess of £100m.

Former player Peter Lorimer is also part of that locally-based group.

Parkin would have brought in new directors if he had gained control of the club, with Krasner and managing director David Richmond stepping down from their positions.

The news of the fresh takeover bid came just 24 hours after former Bradford City chairman Geoffrey Richmond ended his involvement with the club amidst speculation of a split within the board.

Leeds are currently battling to preserve their Premiership status and play Portsmouth on Sunday with three vital points at stake.