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Leeds United and council chiefs agree Thorp Arch deal
Leeds City Council and Leeds United have struck a deal over the future of the club's Thorp Arch training ground.
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Council bosses last month voted to make an offer to United regarding the purchase of the complex.
Now the local authority has announced it has agreed terms with the football club.
Subject to due diligence checks, the council will buy Thorp Arch from its current owners, Manchester-based company Barnaway Ltd, then lease it back to the club.
United sold the complex to Manchester businessman Jacob Adler in 2004 as they tried to stave off financial collapse.
They were given a 25-year lease on the facility as well as an option to repurchase it for a fixed price of about 6m.
That option, however, expires on October 10 - and earlier this year concerns were voiced the site could be lost to the club and the city once United's lease runs out in 2029.
Leeds approached the council for help after failing in attempts to raise money themselves for the buy-back.
The council's joint leader, Coun Richard Brett, said: "We have settled the main terms of any agreement with Leeds United and look forward to completing our due diligence work so that matters can be concluded as soon as possible."
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Weather for Leeds
Friday 25 May 2012
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Temperature: 10 C to 23 C
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