Sainsbury revives Leeds offer

Sebastian Sainsbury re-entered the fray for control of fallen giants Leeds United just two weeks after the board rejected his initial bid

Sebastian Sainsbury re-entered the fray for control of fallen giants Leeds United just two weeks after the board rejected his initial bid.

On November 12, Leeds chairman Gerald Krasner ended talks on Sainsbury's 25 million pounds offer to buy the club, relegated from the Premiership last season, and instead negotiated an eight million pounds sale-and-leaseback agreement of Elland Road to ease existing debts.

Krasner had become annoyed at the Sainsbury consortium's failure to meet several deadlines and called a halt to talks when money which had been due to have been paid into a lawyer's account was not deposited.

Sainsbury, a member of the family which built Britain's Sainsbury supermarket chain, said in a statement Monday: I have today made a formal offer to the lawyers of Leeds United Football Club.

"The proof of funding will be supplied in a manner that I know will totally satisfy the board of LUFC, and this will follow imminently.

"The offer includes the re-purchasing of Elland Road, the Thorp Arch training facility together with the first-team training pitch.

"In addition, monies will be made available for the working capital of the club together with the acquisition of new players.

"I will make no further comments until we have a response from the board."