Morris bids to give Leeds 'great future'

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The 29-year-old property entrepreneur, who has an estimated fortune of £69m, has tabled his bid for the club and, if successful, says he will provide a further £25m to bring financial stability to Leeds.

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Relegated: Leeds fall to the third tier of English football

Morris's lavish plans involve developing the land around Elland Road and building a new stadium as part of a multi-million pound entertainment complex.

His property company SR Morris Group say they plan to invest £400m in the scheme.

Morris said: "Our plans are fully costed and very well financed. They offer a great future for Leeds United and the club's fans, allowing us to put aside the troubles of the past."

Leeds went into administration with debts of £35m last Friday following a winding-up order issued by the Inland Revenue, who are owed £5m in unpaid taxes.

The business was, with the administrators' approval, almost immediately bought by a new company, Leeds United Football Club Limited, of which Ken Bates is a listed director.

But the sale is subject to approval by the club's creditors at a meeting later this month and also by the Football League, while SR Morris and other consortia are aiming to ambush Bates' plans to resume control of the club.

Morris was the leading shareholder in the Yorkshire consortium that were in charge at Elland Road for 10 months from March 2004.

On the playing side, Leeds have told defenders Hayden Foxe and Robbie Elliott to find new clubs.