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Last Updated: Friday, 5 November, 2004, 00:57 GMT
Leeds officials meet with suitor
Leeds' Elland Road stadium
Sebastian Sainsbury's proposed takeover of Leeds United moved closer to reality on Thursday night when his consortium met with club officials.

Sainsbury said Nova Financial Partners had begun to provide proof of funding for a bid reportedly worth 25m.

"The consortium has produced the first of a number of documents showing that we have the funds in place to complete the transaction," he said.

Leeds had insisted they were still some way from concluding any takeover deal.

But Sainsbury - the great grandson of the founder of the supermarket chain - believes he will have control of the club by the middle of next week.

"We appreciate the efforts that the board has gone to in extending the time in which to make available to them our proof of funding," the businessman said in a statement.

Current chairman Gerald Krasner continues to exercise caution, having seen a number of deadlines expire amid mounting concerns that the deal could fall through.

And waiting in the wings is Yorkshire property tycoon Norman Stubbs, a Leeds supporter who has held his own negotiations with the board regarding his own takeover.



SEE ALSO
Leeds keep takeover options open
03 Nov 04  |  Leeds United
Healy wants to prove his worth
29 Oct 04  |  Preston
Leeds hopeful over new investors
24 Oct 04  |  Leeds United



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