Leeds' Nova takeover imminent

Sebastian Sainsbury’s Leeds takeover looks set to be completed this week following a statement of intent by his Nova consortium colleagues.

Sebastian Sainsbury’s Leeds takeover looks set to be completed this week following a statement of intent by his Nova consortium colleagues.

Londoner Sainsbury and the three Americans fronting the Florida-based company known as Nova Financial Partners are finally poised to take control of the Elland Road club with a £25m (€36m) buy-out.

A joint statement released last night by Leeds and Nova’s American trio - Michael Lucas, Burl Sheppard and Bradley Ray – read: “Nova have agreed to transfer £25m (€36m) into their solicitors’ bank account by the end of Thursday, and this transaction will be verified at such time by Leeds United’s solicitors.

“Provided the funds are verified, Nova confirmed it would complete a deal with the club on or before 1pm on Friday.”

Leeds chairman Gerald Krasner added: “The intention of the board is to secure the best possible future for the club, and we look forward to completing a successful deal on Friday.”

Lucas, too, is confident of a bright future.

“We are looking forward to completing the contract and working towards Premiership status,” he said.

“No further comment will be made by either party or anyone representing either party until either completion or the deadline for completion has passed.”

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