Sainsbury set to buy out Leeds

An Anglo-American consortium headed by a member of the Sainsbury family was today linked with a £25 million takeover bid for troubled Leeds United.

Sebastien Sainsbury, great grandson of the founder of Sainsbury's supermarkets, is heading a group of businessmen looking to rescue the club.

Leeds chairman Gerald Krasner would not be drawn on the speculation, but said there was a board meeting later today after which a statement could follow.

He added: "The club's position remains the same. We are continuing to negotiate with various parties."

But according to reports this morning the group of businessmen, which also includes officials from investment company, Nova Financial Partners, are poised to take control of Elland Road.

It is claimed the Sainsbury consortium will use £23m to wipe out the bulk of the club's debts, thought to be around £30m.

The current Leeds board, headed by Krasner, rescued the club from administration last March, erasing debts of £70m.