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Last Updated: Sunday, 24 October, 2004, 10:28 GMT 11:28 UK
Leeds hopeful over new investors
Leeds' Elland Road stadium
Leeds United's finance director Melvyn Helme has hinted that the club are close to securing major new investment.

He would not comment on reports of a potential takeover by American Burl Sheppard but said the board are making progress in attempts to find new money.

"Talks with a number of parties have reached an advanced stage," he told the Mail on Sunday.

"It would be wrong to comment on any one person. I'm not sure which party will come forward in the end."

A group led by current chairman Gerald Krasner paid 22.5m when they took over Leeds last March and since then they have reduced the club's debts from 103m to just over 30m.

The club's Thorp Arch training ground was recently sold for 4.2m and up to 15m more could be raised by the sale of land adjacent to Elland Road for a proposed casino.

"My dream is for Elland Road to be substantially developed," added Helme.

"Casinos are the first part of the jigsaw and I see money coming into the club."

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