Leeds have a day to raise £5m

LEEDS UNITED were continuing to work behind the scenes on a rescue package last night as the Barclaycard Premiership’s chairmen prepared to discuss severe penalties for clubs going into administration.

A Yorkshire-based consortium, which has put together a £20million bid for the crisis-torn club, were deep in talks as tomorrow’s 5pm deadline, by which time they must satisfy the club’s creditors that the club can stay afloat for the rest of the season, fast approached.

It is understood that chief executive Trevor Birch was meeting creditors yesterday before heading for today’s monthly meeting of Premier League chairmen.