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Leeds losing £1M-a-month

Crisis club Leeds United are in a financial death spiral.

The Daily Star says Leeds are piling up debts of more than £1m-a-month.

The club's current owners, GFH Capital, are keen to complete a deal with Massimo Cellino as quickly as possible because of a mounting financial crisis.

It is understood staff fear not being paid at the end of this month, while the club is facing a winding up order from their main shirt sponsor, Enterprise Insurance, over an alleged unpaid debt of £1.8m.

Cellino has made it clear he is willing to settle the debt as part of his takeover, while he has also lent the Yorkshire outfit £1.5m to keep them going.

But it is understood that unless Cellino can complete his £12m buy-out before the end of this month, Leeds will be in danger of going into administration again.

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