Leeds heading for courts
The battle for control of Leeds is expected to be resolved in court, it was revealed at a stormy creditors' meeting at Elland Road on Friday.
Creditors voted by the slimmest of margins to accept Ken Bates' offer to buy back the club, but it was so close administrators KPMG were forced to abandon the meeting and call for a recount on Monday morning.
Some creditors argued Bates' offer to pay back money owed by Leeds was not the best on the table and claimed other parties interested in buying the club had not been given a fair chance.
Bates, who placed Leeds in administration with debts of £35million on May 4, requires 75% of the vote to have his offer of 1p in the pound accepted by creditors and the original count showed he had 75.02%.
KPMG released the following statement: "The creditors' meeting has been adjourned without a conclusion being reached due to the first count of the creditors' votes on the creditors' voluntary agreement (CVA) proposal producing a very close result.
"This means administrators KPMG wish to recount. The meeting will be reconvened on Monday, June 4, at 10am at Elland Road for the results to be provided."
It is understood Bates faces opposition from five different consortia, with some now considering legal action should Bates emerge victorious.
KPMG have refused to identify the five would-be investors ahead of the company voluntary arrangement (CVA) meeting.