Leeds United to sell stadium?

Leeds United Football Club (LUFC), which was rescued from administration by a Yorkshire-based consortium last March, has announced that it is considering selling its stadium, Elland Road.

Gerald Krasner, chair, said on the club website that the club was looking at two options.

He said: “We will either re-mortgage the ground or do a sale and lease back, with a minimum 25 year lease and a buy back clause.

“Whatever happens, football stays at Elland Road. It is not in the club’s interests to accept a shorter lease than 25 years and in the talks we’re having there is also a clause to buy back the ground.”

LUFC plunged into administration this spring, after reporting losses of £49.5m last November and running up debts of around £100m.

Since then, the club has been relegated from the Premiership and has been forced to sell a number of its high-earning players.

For the forthcoming season, LUFC’s wage bill has been reduced to £18m – just two years ago, the club had a wage bill of around £57m. Details: www.leedsunited.com