Local businessmen in Leeds move

A GROUP of local businessmen are in negotiations to buy debt-laden English second division side Leeds United.

The group, led by Leeds-based property developer Norman Stubbs, said they hoped to finalise negotiations within the next seven to 10 days.

A rival group led by businessman Sebastian Sainsbury withdrew last week from negotiations to take over the club, who were estimated to have debts of £80 million last October, though Leeds chairman Gerald Krasner said on Sunday the debt was now under £25 million.