Parkin Bid In Limbo

Last updated : 06 May 2004 By Kevin Markey
The Yorkshire Post report that the millionaire haulier has already tabled £23m for the club but has now been told he cannot inspect Leeds's books until he proves there is a further £15m available for team re-building.

This demand has left Parkin's bid up in the air with his advisers unable to determine exactly how much the club is in debt or how badly the relegation to Division One will affect them.

The £23m figure would pay off all United's debts, including the £15m loan to East End businessman Jack Petchey, plus settling all the board's outgoings while also giving them cash for their shares.

It would mean any money from player sales under a Parkin regime could be put back into the club. The Gerald Krasner-led consortium only took charge of the the club in March but are already keen to sell-up after in-fighting among directors and the daunting financial position left them struggling.

Parkin, who is backed by a group of wealthy businessmen, has chosen to remain out of the media spotlight but it is clear he is frustrated by the hold-up and desperately wants things to move on.

The delay, however, has left some fans wandering whether he is serious with his intentions.