Consortium talks more advanced

A Yorkshire-based consortium have stepped up negotiations as they look to complete a takeover of debt-ridden Leeds.

After announcing their interest a fortnight ago, talks have been ongoing, albeit slowly, with chief executive Trevor Birch, as well as the club's principal creditors who are owed £82million.

Last week the consortium proved their credibility and their credentials by lodging an eight-figure sum in a solicitors' client's account in order to push through the deal.

Although it is understood the initial offer was rejected as it did not meet with the approval of the bondholders, the consortium have apparently increased the bid.

The creditors bondholders MetLife and Teachers in the United States and British firm M&G, along with player-leasing agents Registered European Football Finance Ltd are continuing their discussions with the consortium.