Elland Road future up in air

Leeds' Elland Road stadium could soon be back under the club's ownership for the first time since 2004, it is understood.

Last Updated: 18/12/13 at 15:46 Post Comment

Elland Road: Could soon be back under Leeds' ownership

Elland Road: Could soon be back under Leeds' ownership

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The club's managing director David Haigh is heading a consortium hoping to conclude a deal to buy a controlling 75% stake in the club from current owners GFH Capital and a buy-back of Leeds' home ground for the last 94 years is high on their agenda.

Leeds negotiated a buy-back clause when they sold Elland Road for £8million to help ease massive debts in 2004 to Manchester businessman Jacob Adler.

But the cost to do so increases annually and currently stands at £15million.

Annual ground rent, which has also risen year-on-year, costs Leeds £1.4million.

GFH Capital took control of Leeds when they bought 100% of the club's shares from previous owner Ken Bates in December 2012.

But a new group of investors, led by Haigh and understood to include Enterprise Insurance managing director Andrew Flowers, are on the verge of completing a second takeover in a year and are keen to redevelop the stadium.

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f he can find the right player? Surely the manager of one of Europe's top clubs has a well-researched short-list and has a good idea of who he wants to bring on-board? If I can find the right player sounds like someone going out on Saturday night on the pull, and the nearer you get to midnight the lower your standards drop.

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