Leeds United’s major creditors have not renewed the ‘standstill agreement’, which ran out today, but have backed the club in its bid to finalise a takeover deal.

Leeds United plc has announced that Andreas Dracopoulos, the Greek shipping magnate, sold 3.5 million shares at 3.25p (4.8c) and three million shares at 3p (4.4c), reducing his stake in the ownership of the Premiership football club to 7.65 million shares or 2.20%.

Leeds have today been granted a further extension to their standstill agreement by the principle creditors who are continuing to mull over a buy-out bid from a Yorkshire-based consortium.

LEEDS chief executive Trevor Birch has won his latest battle with the club’s creditors by gaining a further extension of the standstill period until next Friday.

Leeds United this morning confirmed “continuing, constructive discussions” are taking place over the future of the debt-ridden club.

Professor John McKenzie was today described as “damaged goods” following his decision to step down as Leeds plc chairman.

LEEDS yesterday temporarily staved off the imminent threat of becoming the first Premier League club to go into administration.

Leeds have today temporarily staved off the imminent threat of becoming the first Premier League club to go into administration.

Leeds United PLC, the struggling football club, was saved from administration last night after a deal was agreed in principle between the club and its bondholders, to release £4m (€5.70m) of working capital, according to reports.

Leeds United PLC's board believe an offer from Sheik Abdul bin Mubarak al Khalifa to be unlikely, despite the Sheik's statement to the Stock Exchange yesterday, it has been reported.

Leeds have dismissed hopes of an imminent takeover to end their financial problems as “pure speculation”.

Leeds’ declaration that they may soon “be forced to seek the protection of an administration order” has been welcomed by a leading business expert.

SHARES in Leeds United Plc, who are bottom of the English Premiership, plunged 29% after the company said that a planned share sale won’t go ahead and that it may ask for court protection from its creditors if talks with them fail.

Leeds today stand on the brink of administration – but that would not mean the end of the football club.

LEEDS’ caretaker manager Eddie Gray admits his first job when he walks back into Elland Road today will be to restore dressing-room confidence.

LEEDS have played down speculation the club is to receive a cash injection from multi-millionaire Sheikh Al-Khalifa. The sheikh, one of the wealthiest men in the United Arab Emirates, attended Sunday’s Premiership game against Newcastle at Elland Road but the club insist no deals have been made.

Leeds United PLC responded to press reports by confirming Sheik Al-Khalifa discussed Leeds United's financial position during his visit to Elland Road Sunday, but that no proposals were made.

Aston Villa manager David O’Leary today spoke of his delight after his club agreed a fee, believed to be around £3m (€4.4m), for Leeds’ goalkeeper Paul Robinson.

Peter Ridsdale’s career at Leeds is over today after he severed his final links with the Elland Road club.

Scrapping professional football in the lower divisions is not the way to safeguard the future of the game, according to former Football League chairman Keith Harris.

Peter Ridsdale has been re-elected to the board of Leeds United plc by a landslide majority.

Leeds United PLC today unveiled pre-tax losses of nearly £34m (€54m) in results described by chairman Peter Ridsdale as “very disappointing” - although the figures do not include the summer sales of Rio Ferdinand and Irish international Robbie Keane.

Leeds United plc have appointed high-profile PR guru Max Clifford to help with their public relations.

Leeds United have ended almost two weeks of fevered speculation by naming Terry Venables as their new manager.

Terry Venables has been confirmed as the new Leeds United manager in the London Stock Exchange.

David O’Leary’s rollercoaster reign at Leeds ended today with the shocks news that he had been sacked.

Leeds United today announced that manager David O’Leary has left the Premiership club by mutual consent.

Leeds Sporting is to change its name as details are released of Leeds United's proposed new stadium.