Blackwell: takeover talks undermining Leeds

LEEDS manager Kevin Blackwell yesterday expressed his fears for the future of a club he feels is being undermined by the ongoing takeover uncertainty.

The patience of Leeds chairman Gerald Krasner and his fellow board members is being tested to the limit by the failure of an Anglo-American consortium fronted by Sebastian Sainsbury to provide proof that funds are in place to complete a deal.

Self-imposed deadlines from Sainsbury, the 41-year-old great-grandson of the supermarket founder come and go, with the latest now on Tuesday and concern is growing that the deal will fall through.

Sainsbury’s consortium cohorts are Michael Lucas and Burl Sheppard, of the Nova Financial Partnership, a company based in Tampa, Florida, USA.

Lucas claims to be a former US international footballer, yet the United States Soccer Federation records dispute that, while Sheppard has a dubious business background.

Waiting in the wings is Yorkshire property businessman Norman Stubbs, a Leeds supporter who has held his own negotiations with the board regarding his own takeover.

Blackwell, who lived through the drama which ripped through the club last season before

Krasner and his group finally seized control, can see worrying similarities to the present time as buy-out talk dominates.

“I am hoping something positive happens for this club, be it the takeover or leaving this present board in place so they are not being undermined,” said Blackwell.

“But they are being under -mined by a takeover bid because the leadership of a business has to be strong, to know where it’s going and what it’s doing. But because of things outside this board’s control, things are not in place and that’s what has happened for the last two years.

Given the depth of Blackwell’s feelings, it could reach the point where Krasner has to step in and call a halt to what is turning into a farce if the Sainsbury consortium are unable to back up their words with financially-hard actions.

Leeds suffering their fourth successive defeat last night, and their third in the Coca-Cola Championship, with a 2-1 Elland Road loss to Burnley to leave them just four points off the relegation zone.