Chairman Bates? Ken likely to takeover

By Andy Baggott
January 20 2005

Leeds could be set to name a new Chairman in the next 24 hours – non other than ex Chelsea head, Ken Bates. Bates is believed to be on the verge of a takeover, and an announcement could be made as soon as this afternoon.

Although Bates was tentatively linked with the doomed Sebastian Sainsbury bid last week, it was widely anticipated that Norman Stubbs was the only name in the frame to invest in or takeover the debt ridden club. The official site has confirmed that they are in talks, but there are no details of the bid. There is talk that Bates is looking at a 51% buyout, and leaving just Simon Morris from the current board involved, but there is no clarification of this. Bates is believed to be putting in his own money, surely a good thing that he is prepared to risk his own cash rather than borrow. What do you think of the shock news?

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