Leeds Confirms Elland Road Sale

Coca-Cola Championship strugglers Leeds United has confirmed reports that its
Elland Road ground has been sold to new owners for the second time in two years.

The club stated that Elland Road, sold by the financially stricken club’s
previous board in November 2004 to Manchester businessman Jacob Adler, had been
sold on again to Teak Trading Corporation, a company based in the British Virgin
Islands.

However Leeds United has been quick to reassure fans and shareholders alike
that the change in ownership of the ground would have no negative effect on the
club’s precarious financial position.

Leeds chief executive Shaun Harvey said: ‘We can confirm that the change in
ownership in relation to Elland Road actually took place in excess of 15 months
ago.

‘The change of ownership has no material effect on Leeds United. We still
have the same lease as originally entered into, albeit with a different company.
More importantly, the buy-back provision has also been transferred.’