Leeds takeover 'collapses'
Deal for Elland Road club looks to be off
By Thomas Hill. Last Updated: August 9, 2012 2:21pm
Elland Road: Hopes of a new dawn at Leeds United have been extinguished
The proposed takeover of Leeds by a Gulf-based consortium has collapsed, according to the Leeds United Supporters Trust.
Talks about potential investment in the Elland Road club have been on-going throughout the summer, but it appears that any deal is now off the table.
Discussions have been held between the Middle Eastern group and Leeds chairman Ken Bates, but Thursday's announcement from the Trust suggests that a dead end has been reached.
The Trust posted on their Twitter account: "The Leeds United Supporters Trust can confirm that the deal to buy the club has now collapsed.
"We will be making a more detailed statement later on today once we have had the chance to establish more."
The club confirmed that talks were taking place with investors on 29th May.
A statement by the club on 27th June then confirmed that the process had moved a step closer to completion after granting a due diligence period to a potential investor.
It is understood concerns about the takeover emerged on Wednesday when Leeds chief executive Shaun Harvey flew out to Monaco to meet with Bates in an effort to push the deal towards a conclusion.