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Leeds United asks council for loan

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Leeds United has asked the city council for a loan of £6m to buy back the club’s training ground.

The football club’s credit rating is low after going into administration in 2007 and, as a result, it has been unable to secure the money from other sources to buy back the Thorp Arch training facility near Wetherby.

Senior city councillors must now decide whether to lend the club, led by chairman Ken Bates, the money to buy back the facility that it sold in 2004.

Leeds United currently has an option to buy it back, but this expires on 10 October.

“Due to its poor credit rating following the 2007 administration, and the effects of the recession, the club states that it has been unable to secure such borrowing,” said a report compiled by the League One outfit.

“The club has approached the council to see if finance would be made available using its ‘prudential borrowing powers’.”

The training ground is an important part of Leeds’ bid to host teams and events for the 2012 Olympics, the 2015 Rugby Union World Cup and the 2018 football World Cup.

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