Leeds United takeover looms

Leeds were due to hold a board meeting today amid reports that a £25million takeover is close to completion.

The Yorkshire Post reports that Sebastien Sainsbury, the great grandson of the founder of Sainsbury's supermarkets, is heading a British-American consortium - including leading officials of Nova Financial Partners.

Leeds chairman Gerald Krasner told his club's website www.leedsunited.com: "The position of the club remains the same; we are continuing to negotiate with various parties.

"As there is a board meeting later today, no statement will be issued at the present time."

The current Leeds board took charge last March and have since reduced crippling debts from more than £100million to just above £30million.

Today's report suggests that £23m will be used to wipe out debts and pay off loans and that negotiations will begin to buy back the club's Thorp Arch training ground.

It also claims that Sainsbury, 41, will become the club's new chairman.
A recent 25-year sale-and-lease-back deal with a property developer for the training ground secured £4.2million for the club.

Another deal saw Leeds agree to sell land adjacent to Elland Road to Stanley Leisure who plan to build a casino on it.

In the meantime, the imminent arrival of striker David Healy from Preston will be a major boost for manager Kevin Blackwell.

The Yorkshire club, who have struggled for goals this season in the Coca-Cola Championship, have been chasing the Northern Ireland striker for several weeks but had several bids turned down.

The 25-year-old will undergo a medical today and is expected to face Wigan at Elland Road on Sunday.

Preston chairman Derek Shaw told his club's website www.pnefc.co.uk: "Leeds United have finally come back to me and offered what I asked them for two weeks ago.

"We have stood firm and held out for a fee we feel is acceptable for a player of David's standard, who would have been able to walk away on a free transfer in the summer.

"David told both me and (manager) Billy (Davies) that he wanted to leave the club and felt that Leeds were a big club with a lot of potential - and as soon as he made that clear we just had to make sure we got a deal that was in the best interests of PNE.

"Although we intend to keep the fee undisclosed, as we intend to go to market, we have reached the figure we wanted and will now move on and put this business behind us."

Leeds are also looking to take West Ham midfielder Don Hutchison on loan. They are waiting to hear an assurance from the Hammers later today that the player came through last night's Carling Cup match at Chelsea unscathed.