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Ken Bates Confirms Talks at an Advanced Stage with Investment

The takeover saga has taken a new step with Leeds United Chairman confirming that talks with potential investors are at an advanced stage.

After further rumours last night, Bates today confirmed that both parties are looking to get a deal done as soon as possible.

When speaking to LUTV, Bates said:

"We're well advanced with discussions. There's a number of finer points to be resolved, but we're making good progress. We had four of the top people over here for a big meeting on Friday and they are at our game on Saturday.

"The potential investors are looking to conclude things as soon as possible. Both parties regret missing the August transfer deadline, but we are planning for the January transfer window.

"The confidentiality agreements that were put in place are very important to the investors. They are a banking institution and a Public Company and not only can speculation affect their share price, they are also governed by heavy banking regulations. They also have interests across the Gulf, Asia, and Africa.

"They are using London lawyers and there has been some logistical issues, but we have discussed things at length and agreed that we can make certain things public.

"Since we signed the agreement in June - and told people what we had done - there has been a lot of speculation and agitation, especially by the Leeds United Supporters Trust, and I have to tell people that a lot of the statements that have come out are inaccurate."