Ken Bates takesover Leeds

[RawIsWar]

Ken Bates has completed his £10 million takeover of Championship side Leeds United after buying a controlling stake in the club.

The former Chelsea supremo was in talks with the cash-strapped West Yorkshire outfit on Thursday and has now finalised the deal.

Gerald Krasner confirmed the news and believes Bates' vision of the future will benefit all concerned.

"The consortium led by Mr Bates completed the deal this morning," said Krasner to the club's official website.

"This deal ensure the medium to long term survival of the club and I believe Mr Bates' proposals are totally for the benefit of the club.

"We are content that under Mr Bates, Leeds United will continue to consolidate and move forward."

Bates believes stability is the most important factor needed at Elland Road.

Bates pocketed £17.5 million when he sold The Blues to Roman Abramovich two years ago, although Leeds are still around £25 million in debt.

The threat of administration had been looming for Leeds that would have meant a 10-point deduction, however, that appears to have dissipated.

"The most important thing is to bring some stability to Elland Road and remove all the uncertainty," explained Bates to The Daily Mail.

"I believe we can do that by me bringing my lifetime of experience to help Leeds."

The current Leeds board are expected to resign once Bates assumes control, but the 73-year-old is keen for director Peter Lorimer to stay.

"I want Peter to stay because he is an important link between the boardroom, the dressing room and the supporters," he added.

"He is important to Leeds."

[stokeriño]

Well I doubt he's going to win you over with his good grace and professionalism...

[lanky316]

The man whos overspending with next to no reward almost shut down Chelsea takes over team going bust through overspending without much of a reward...

This'll be interesting.

[WS1]

The man whos overspending with next to no reward almost shut down Chelsea takes over team going bust through overspending without much of a reward...

This'll be interesting.

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[RawIsWar]

Thats what i mean when i say im not a fan but he may of learned his lesson plus it as guaranteed us not to be in Admin in the up-coming months, he says theres light at the end of the tunel. He may be lying

[Asuka's Gonna Kill You]

No lie, either Ken Bates has a twin or he was just shopping in Asda earlier today.