July 11, 2007
KEN BATES has regained control at Leeds after increasing his offer to creditors.
Ex-Hull chairman Adam Pearson and the SRMorris group had also been in the running to buy the troubled League One side.
But administrators KPMG decided that Bates' unconditional offer represented the best result for the club's creditors.
Joint administrator Richard Fleming said: "We received several offers for the business which we considered carefully.
"The approved deal represents the best result for creditors in the circumstances and we believe it provides the club with the best chance of survival.
"We understand this has been a difficult time for all those concerned about the future of Leeds United.
"This deal is a necessary step if the club is to have a chance of playing in League One in the 2007-08 season."
KEN BATES has regained control at Leeds after increasing his offer to creditors.
Ex-Hull chairman Adam Pearson and the SRMorris group had also been in the running to buy the troubled League One side.
But administrators KPMG decided that Bates' unconditional offer represented the best result for the club's creditors.
Joint administrator Richard Fleming said: "We received several offers for the business which we considered carefully.
"The approved deal represents the best result for creditors in the circumstances and we believe it provides the club with the best chance of survival.
"We understand this has been a difficult time for all those concerned about the future of Leeds United.
"This deal is a necessary step if the club is to have a chance of playing in League One in the 2007-08 season."