MEANWHILE BACK ON THE FARM

Last updated : 08 July 2007 By Editor

Sunday Times:

Ken Bates has a fight on his hands to regain control of Leeds United after the sale of the club was opened up to the highest bidder. KPMG, the club's administrator, contacted a list of preferred bidders - including the Leeds-based SR Morris Property Group and Redbus Group - last night, when it became clear that Leeds could start the new season in administration after yesterday's preliminary hearing in the High Court ended with a new hearing date set for September 3.

Bates placed the Coca-Cola League One club in administration on May 4 and formed a new company to buy them back. Although creditors narrowly accepted the chairman's initial offer of one pence in the pound last month, Revenue & Customs, which is owed £7.7 million in unpaid taxes, took up the option to appeal and challenged the CVA (Company Voluntary Arrangement) - even after Bates had increased his offer to eight pence in the pound on Monday night.

According to Simon Franks, the chairman of Redbus, he will fight "tooth and nail" to gain control of the club and is close to joining forces with SR Morris to prevent Bates from regaining control. "It is an absolute travesty," Franks said. "KPMG have asked us to submit bids by 5pm on Monday, but they are not giving us access to the management accounts. We have no idea what we are bidding for. I am livid and it is a travesty, but we are not fainthearted and we will not be giving up. We want to get the club without damaging it."

Simon Morris, head of SR Morris, which proposed a £400 million package to purchase the club and redevelop Elland Road, said: "We have been contacted by KPMG and they are forwarding documentation to us. Until we see what is on offer, we cannot comment further. We remain very interested in bidding for Leeds United."