Leeds United chairman Ken Bates has entered talks with an American investor who would offer major funding to improve the first-team squad at Elland Road.
The new proposal has advanced rapidly with the principal attending Tuesday night's Championship loss to Hull City. Accompanied by legal and business advisers, the American - said to be worth $250million (Dh 918m) - is understood to have discussed the number of reinforcements required to bankroll promotion to the Premier League.
The deal would be for a percentage of Bates' majority shareholding in Leeds. The 80 year old former Chelsea owner will stay on as chairman with an agreement in place to sell the remainder of his stake when he ultimately decides to retire from football.
Bates - a Monaco resident whose time in the UK is limited by tax regulations - made an unscheduled visit to Elland Road on Wednesday. Accompanied by his wife and co-shareholder, Susannah, at some points he was spent long hours at the stadium on Thursday and Friday. According to sources close to the negotiations, he has excluded club solicitors from new investment discussions, taking direct control of what had become a fractious process.
At the Championship fixture with Nottingham Forest, Bates entertained four representatives of a Bahraini financial institution working on an alternative proposal, understood to involve a member of the Saudi Arabian royal family.
Speaking to Leeds United's in-house television station ahead of the game, Bates said: "We are well advanced with our discussions. There's a number of technical points to be resolved, some of the delays have been because of summer holidays. But we're making progress, we had a very positive meeting yesterday and the potential investors are looking now to get this matter concluded as soon as possible.
"Both parties regret that because of a lot of factors beyond our control we missed the August window, but we are already planning for the January transfer window. We had four of the top executives from the institution [here], we had one bit of bad luck because the chairman was coming here to meet me to resolve things chairman to chairman but unfortunately he had to pull out at the last minute for personal reasons. We're both disappointed but we're planning to get together as soon as possible when his personal situation had been resolved.
"The confidentiality agreements that were signed was very important to the investors. They are a banking institution and a public company so anything that was said can affect their share price, and they are under severe banking regulation. They are using London lawyers so there are certain logistical problems, but I've discussed things at length and we've agreed that we can make certain things public.
"Since we signed the agreement in June - and told people what we had done - there has been a lot of speculation and agitation, especially by ... LUST [Leeds United Supporters Trust], and I have to tell people that all the statements they have come out with are inaccurate."
If either of the new Arab or American offers is accepted, money will be immediately available to strengthen a squad that Leeds under-pressure manager Neil Warnock has consistently complained is undermanned. The Football League's 93-day emergency loan system is to be used to sign players with a view to permanent January transfers.
Warnock has been working on the signing of Reading centre forward Simon Church on loan. The Wales international scored seven times in 30 league games as Reading gained promotion last season. The 23 year old has yet to make a Premier League appearance this season with Reading employing Russia international Pavel Pogrebnyak as first-choice striker.
"As manager I've got to carry on and if new investment comes in then it might change my targets," said Warnock. "We're looking at targets but they're players we'd need to take on permanently. We'd sign them first for 93 days from around the 27th and that would take them through to January.
"That date's after this weekend's game but before the next league match hopefully. I'm assured that there are on-going talks and people are working hard to change the finances. Hopefully we'll get some good news in the next 10 days or couple of weeks."
There have been complications in Warnock's approach for the player, who is likely to be dropped from Leeds' recruitment plans should new investment be agreed this week.
The specs
Engine: 3.0-litre 6-cyl turbo
Power: 374hp at 5,500-6,500rpm
Torque: 500Nm from 1,900-5,000rpm
Transmission: 8-speed auto
Fuel consumption: 8.5L/100km
Price: from Dh285,000
On sale: from January 2022
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
Is it worth it? We put cheesecake frap to the test.
The verdict from the nutritionists is damning. But does a cheesecake frappuccino taste good enough to merit the indulgence?
My advice is to only go there if you have unusually sweet tooth. I like my puddings, but this was a bit much even for me. The first hit is a winner, but it's downhill, slowly, from there. Each sip is a little less satisfying than the last, and maybe it was just all that sugar, but it isn't long before the rush is replaced by a creeping remorse. And half of the thing is still left.
The caramel version is far superior to the blueberry, too. If someone put a full caramel cheesecake through a liquidiser and scooped out the contents, it would probably taste something like this. Blueberry, on the other hand, has more of an artificial taste. It's like someone has tried to invent this drink in a lab, and while early results were promising, they're still in the testing phase. It isn't terrible, but something isn't quite right either.
So if you want an experience, go for a small, and opt for the caramel. But if you want a cheesecake, it's probably more satisfying, and not quite as unhealthy, to just order the real thing.
Baby Driver
Director: Edgar Wright
Starring: Ansel Elgort, Kevin Spacey, Jamie Foxx, Lily James
Three and a half stars
Keep it fun and engaging
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
if you go
The flights
Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.
The hotel
Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.
The tour
Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
