'Superbid' threat to Bates

Simon Franks, head of the Redbus investment group, linked up with property developer Simon Morris — a member of the Leeds board who sold the club to Bates in 2005 — to pose a major threat to the chairman's £2.8million bid to buy back the club from administrators KPMG.

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KPMG's Richard Fleming and his team will decide today whether Bates retains the troubled Elland Road club, who went into administration in May to confirm their relegation to League One.

The Redbus bid was "substantially" lower than the one originally rejected last month when Bates' offer of 1p in the pound was controversially accepted by a majority of creditors owed £35m.

But Franks insisted it was still higher than the last offer tabled by Bates of 8p in the pound, which failed to head off HM Revenue and Customs, who were chasing Leeds for a debt of £7.7m.

It was unclear whether former Hull chairman Adam Pearson, a former Leeds director, had tabled a late bid. Franks said: "Some of my guys begged me to walk away. What we are doing is verging on reckless, but Leeds United are such a great club it's worth taking the risk.

"We are not on a level playing field. We need to know if we will be able to honour season tickets to fans. We have bid a substantially reduced amount to take in the known unknowns, as it were."

There is also uncertainty over who would be entitled to an estimated £4.4m of season-ticket money should Bates, who has paid running costs since May, fail to win approval today.

Bates and KPMG differ over who is responsible for the cash.