"It has not been possible to reach agreement with the Football League on any
workable basis that would enable the administrators to sell the club with
the benefit of the Football Share in the short term."
Richard Fleming added:
We understand this has been a difficult time for all those concerned about
the future of Leeds United. This deal is a necessary step if the club is to
have a chance of playing in League One in the 2007/08 season. We wish the
club well in its endeavours to secure a transfer of the Football Share.
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