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Leeds United Make Official Statement Regarding Investment/takeover

Within the last hour Leeds United have made an official statement regarding the future investment/takeover bid.

The last contact from the club came on May 29th, when a statement confirmed the club were in talks but no further comment would be made.

The silence was finally broken earlier today when the club made a statement on the official site. The statement read:

"Further to our previous statement on the 29th of May, Leeds United can confirm they have granted an exclusivity period to enable a potential investor to carry out the appropriate due diligence. It is anticipated this will be a fairly straightforward process.

A confidentiality clause prevents the club from making any further comment. However, our discussions with them have left us very comfortable that they have the financial resources to support the club and that they will have no issues in satisfying the requirements of the Football League's Owners and Directors Test, unlike many of the previous approaches we have had to endure.

We will not be making any further announcements in the near future."

It still remains to be seen whether the deal is a complete takeover or investment from another party and Ken Bates will remain in charge. The keywords standing out from the statement are Football League's 'Owners and Directors Test'.

The fact that the club feels it will be a straightforward and they feel very comfortable that they have financial resources to support the club sends a good message to the fans of the club.

A statement was wanted, especially after the update from the Supporters Trust last Thursday. What remains to be seen is what exactly the future holds. Is it an investment or is it an takeover.

IT seems more likely to be a takeover of the club but I don't want to get excited. Not yet anyway.