Ken Bates could make a sensational return to football within the next 24 hours as Leeds’ potential saviour, although a three-way race has ensued to take over the cash-strapped club.

MANCHESTER United shares fell 2.5% yesterday as pressure mounted on potential bidder Malcolm Glazer to disclose his plans for the club.

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

FOOTBALL LEAGUE bosses may decide to close a loophole which could allow Leeds to escape a mandatory 10-point penalty for going into administration with £78m debts.

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