Was not me :o)

3:05pm (UK)
Leighton Could Hold Key to Leeds' Future - Gerrard

By Ian Parkes, PA Sport


Allan Leighton could be emerging as the leading candidate to step in and save Leeds from the threat of administration.

Leighton resigned as Leeds deputy plc chairman earlier this month in the belief he would be forming a consortium, aided by a number of leading city investors thanks his business connections.

The chairman of Royal Mail has since maintained a low profile, instead letting the speculation surrounding two other potential takeover bids from Sheikh Abdulrahman bin Mubarak al-Khalifa of Bahrain and Chinese industry tycoon Xu Ming grab the headlines.

It is highly unlikely Leighton will attend tomorrows annual general meeting, even though he is a significant shareholder, as that will undoubtedly add fuel to any fire regarding a possible buy-out.

Instead, it will be left to chief executive Trevor Birch to answer questions, though he will be prudent with his words as he is governed by Stock Market regulations given Leeds are currently up for sale and awaiting a new owner.

While many fans would query Leightons re-involvement with the club bearing in mind he was part of the regime which left them 78million in debt and on the brink of financial ruin, his standing in the city lends weight to his credibility.

Dr Bill Gerrard, a professor of sport management and finance at Leeds University Business School, is convinced Leighton is the man who will come up with a rescue plan before a creditor-imposed deadline of January 19.

When you look at it logically, and the longer it goes on, theres only one credible solution, said Gerrard, who will be attending the AGM.

Eddie Gray is key to the football future at Leeds United, with Trevor Birch key to a successful financial future, with the third part of the triumvirate being Leighton.

The creditors would not have proposed a standstill agreement and Trevor Birch would not have come in if he had not done his homework and there was something viable.

He has come up here to see it through and to move the club on, while the creditors would not be confident in reaching an agreement with the club if they felt there would be no money put on the table.

I feel the Chinese link is nothing more than a smokescreen for the Professor, and while the sheikh is a Leeds fan, he is a long shot.

It all points to Leighton coming in with his own consortium and Im not saying that with any insider knowledge, its just a matter of elimination.

The fact he has not come out and said anything publicly is because he is someone who would not say anything unless all his ducks were in a row.

He will say things when they need to be said, and he has until January 19 for a deal to be done.

The only acrimony likely to materialise at the AGM is if outgoing plc chairman John McKenzie shows, with shareholders certain to demand answers regarding his performance over the past nine months and his remuneration package.

It is anticipated McKenzie, who last Monday confirmed he will not be standing for re-election, will be brought to task, in particular as he has paid himself 200,000 for what is described as consultancy services through to September next year.

John Boocock, chairman of the Leeds United Supporters Trust, said: I think it will be a damp squib.

The fact he is not standing means he will not now attract a tremendous amount of criticism. I dont think he will be allowed to take any flak.

As far as he is concerned, he feels he can still provide consultancy work for the club and thats why hes getting paid. He agrees with me that if you dont do the work then you dont get the money for it.

Gerrard is adamant a veil be drawn on the past and that Leeds now look to the future as he added: I think there will be a degree of hostility with regard to past mistakes

Views will be expressed on those, with the shareholders getting it out of their system, but then I think we should draw a line on the past and focus on the future.

I would like to think we all come out of the meeting with cautious optimism and hope that our great club will never be taken to the brink of extinction again by executive directors.