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Post by mattmightsay on Feb 15, 2004 23:24:41 GMT -5
haha. MMS Leeds Report!
Leeds United's creditors have given the financially stricken club a further two weeks to try and negotiate a solution to their problems.
Whites chief executive Trevor Birch has now negotiated five extensions to the standstill agreement, whereby the creditors agree not to force the club into administration while they attempt to restructure their finances.
This latest agreement will give the club's board further time to continue negotiations with the two parties interested in taking control at Elland Road - a Yorkshire-based consortium and Ugandan businessman Michael Ezra.
Leeds' debts are reported to amount to more than £100million and last month they were forced to ask their players to agree to the deferment of a significant portion of their salaries.
soure: Nationwide.co.uk
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