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Leeds United: Arch buy is still on
Leeds United chairman Ken Bates has reiterated the club's intention to buy back their Thorp Arch training ground ahead of the forthcoming deadline.
But United have abandoned plans to launch a scheme which would have allowed their supporters to contribute to the cost of repurchasing the 6m complex.
Leeds have until October to activate a clause in the lease agreement and regain ownership of the property, and completing that deal remains high on the agenda of Bates and United.
Bates said today: "It's an ongoing matter, and we've recently had negotiations about one or two areas of it. That's all I can say at the moment."
The club have rented their training ground since 2004, when the site was sold to Manchester property developer Jacob Adler by the Leeds board fronted by former chairman Gerald Krasner.
A sale and leaseback agreement reached at the time gave United the flexibility to repurchase the training ground up to five years after the original sale.
Leeds are in no danger of being evicted – the club's lease runs for another 20 years – but buying back Thorp Arch would free the club from a rent which drains around 500,000 from their accounts every year.
For more on this story see tonight's Yorkshire Evening Post or click back here later.
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Weather for Leeds
Sunday 12 February 2012
Today
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Temperature: 0 C to 5 C
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