By Rich B
November 30 2003

Reports have been coming through for 24 hours that the Sheik has confirmed the story that he is planning a buyout of Leeds United - Here we look at those reports and what is will mean for the Yorkshire club.

Shaikh Abdul Rahman bin Mubarak Al Khalifa, a member of Bahrain's royal family has confirmed the reports that he is heading a consortium to buy the debt riddled club in a deal that could go through next week.  The Sheikh is not thought to be prepared to invest any of his personal fortune but is acting as a go-between in setting up a deal with his Gulf ties - he may invest via one of his buisinesses though. Khalifa has announced that the investors he is talking to come from the Gulf and not just Bahrain which could spell longer term good news.

The club is expected to be sold for £20M in a deal that will see the consortium take over the debts - estimated to be just under £78M - a total deal worth £98M - it is not yet known if the new owners will clear the debts or simply restructure them - the creditors are more likely to listen if the consortium has the financial backing to guarantee repayments under any circumstances (i.e. Relegation).  It is doubtful that the this takeover - if indeed it does come off - will be anything on the scale seem by Chelsea when Billionaire Roman Abramovich bought the London club - he has thrown over £100M on player purchases and wiped out the clubs' £110M debt overnight.  Given that is is a consortium that is planning an investment in LUFC, it is more likely to be run as a going concern business with a plan to produce profits to return to the Gulf  rather than a 'sugar daddy' scenario- It will be good enough for Leeds fans though who are in real danger of seeing their club going under at present.  The fact that the consortium is coming from the wider Gulf area though, were some of the richest people and businesses in the world comes from could spell longer term success - Leeds United could be adopted in the area leading to a massive influx of cash.

Shaikh Abdul Rahman bin Mubarak Al Khalia (pictured) originally became a fan of Leeds after his father studied at Leeds University in the 60's and regularly travels to Elland Road - without doubt, Professor McKenzie has been influential is persuading the Eastern man to consider an investment in the Yorkshire club.

We'll bring you more news next week as it happens