Leeds’ shares rise 16% on club takeover talks

LEEDS UNITED, the Premier League soccer club struggling on and off the pitch, said yesterday it was in talks with a number of interested parties that could lead to a takeover.

Leeds, with debts of around £80 million (114 million), said the talks were at a very early stage, but the news confirmed the Yorkshire club could follow rivals Chelsea into new hands possibly an overseas tycoon.

By mid-morning shares in Leeds, which had warned it might have to call in administrators, were up 16%. "I'm more optimistic now than I have been for many months," said Bill Gerrard, professor of sports management and finance at Leeds University Business School.