Not a leeds fan by any stretch of the imaginaton but some good news on the horizon?? up .75 24% this morning

football club Leeds United is set to receive a cash injection from a Bahraini investor, according to a press report.
The Daily Mirror reported that the investor, a member of the Bahraini royal family, is planning to put 20m into the club.

The investor will give Leeds a further 15m to buy new players.

But it is unclear whether the money will be enough to save the club, which has nearly 80m in debts.


Leeds had set a deadline of Monday 19 January to find potential investors.

But BBC Radio Five Live has learned that the club could be given until the end of the month as creditors wait to see if money comes in from player sales.

Crisis

If the club does not come up with a viable financing arrangement, it is widely expected to become the first club in England's elite Premier League to go into administration.

According to the Daily Mirror, Leeds United's board will be weighing up the Bahraini investor's proposal on Friday.

Leeds United shares were up more than 40% at 4.5p in early trade as investors bet on a reprieve for the club.

Leeds' built up huge debts under former chairman Peter Ridsdale, who borrowed heavily in an effort to turn the club into a giant of European football.

The club reached a semi-final of the Champions League competition, but the debt quickly returned to haunt it.

Last year, Leeds sold a number of key players in an effort to shore up its finances