Leeds deal by week's end: Sainsbury

Sebastian Sainsbury insists the deal to buy Leeds will be sealed by the end of the week.

Sebastian Sainsbury insists the deal to buy Leeds will be sealed by the end of the week.

Leeds chairman Gerald Krasner still requires proof that the consortium behind the buy-out has the £25m (€36m) required – but Sainsbury believes this to be a formality.

“There are no stumbling blocks,” Sainsbury said. “We’ll complete some of the compliance issues and some of the contractual issues and then sit down with both parties, show the proof of funds and have a completed agreement we can sign.

“There’s nothing to put us off but there are issues that need to be sorted out and agreed upon between both parties.”

Funding behind the group, known as Nova Financial Partners, remains a mystery - but Sainsbury revealed that their motivation for the deal is for Leeds’ loyal fans.

Sainsbury was in the Elland Road crowd last night as the Coca-Cola Championship strugglers lost 2-1 to Burnley.

“I went to support the team and I sat with the fans,” he added.

“It’s the second home game this week, a midweek game with 27,000 fans. We need to do it for the phenomenally loyal support.”

Sainsbury is determined to complete the deal and not to walk away from the club he supports.

“Michael Lucas, president of Nova, has been here solidly for two weeks, and I’m up in Leeds at the moment,” he added. “I don’t think we’d be sitting with lawyers day in and day out if we weren’t serious about completing this deal.

“Nothing can be guaranteed but we are doing our utmost to make sure it gets done by the end of the week,” he told BBC Radio 4’s Today programme.

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