New Consortium Joins Chase

Last updated : 16 February 2004 By Kevin Markey

Curry says ex-Leeds star Trevor Cherry and former Huddersfield chairman Terry Fisher are involved in the consortium.

"None of us are in the business of wasting our time and we are all very interested in making sure Leeds survives," Curry told BBC Radio Leeds. "The group includes a number of Leeds businessmen and we are working towards a timescale of the end of the week."

The group have spent the last few weeks working with corporate finance experts Zeus Capital to put together a rescue package.

The men involved in Curry's group are all Leeds fans and wealthy individuals.
Curry added: "The figures we've been hearing are around the £25-30m mark to take care of the existing creditors and provide some working capital going forward.

"The people we have got involved have a track record of being very successful in business and can assist the club. There's been a lot of sleepless nights and we're not doing that for the fun of it. We're all interested in making sure that Leeds survives."

Richard Hughes, co-founder and a director of Zeus Capital, believes their funding is "100% equity and not repayable".

"We are extremely serious about finding a solution that is in the best interests of the club and providing sufficient funding for it to go forward rather than backwards," added Hughes. "We are looking at the process of what the funding requirement is, but we have the funding in place and we are not far off from making a bid.

"We know it is in our interests to do something sooner rather than later."

Cherry, who lives in Huddersfield, would not comment specifically, but did say today: "I have a lot of affection for all three of my old clubs (he also had a spell at Huddersfield Town & Bradford City), I don't like to see any of them in trouble, and I will do what I can to help if they are."

The consortium is believed to include Andrew Dick, a senior partner with Begbies Traynor, the insolvency specialists who ran Huddersfield when they were in administration last year.

Cherry, 56, who joined Leeds from Huddersfield in a £100k deal in 1972, spent 10 years at Elland Road winning a title medal with them two years later, and he believes they can retain top-flight status.

"They certainly have a stronger squad than several of the clubs near them in the table and the recent 4-1 win over Wolves has provided a platform," he said. Cherry still watches both Huddersfield and Leeds.