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Bates facing battle for control
09 January 2007
Administrators running the club are set to announce on Tuesday who has won the right to take charge of the cash-strapped League One outfit after the deadline for submissions passed on Monday.
Current chairman Bates already had one offer on the table while it emerged on Monday that investment firm Redbus Group had linked up with another interested party, local property developer Simon Morris.
Redbus chairman Simon Franks admits his company are taking a big risk as they do not have access to important financial information, such as where recent season-ticket income has gone.
This has made the bid difficult to compile but Franks is confident he has put together a sound plan.
Franks told Sky Sports News: "I had a conference with all of my guys and some of them begged me to walk away. They just felt it is impossible to bid where you don't have any data and to do so would be risky verging on reckless.
"But we think Leeds is such a valuable franchise, such a great club that it is worth taking that extra risk. We may be bidding for something we actually can't have, so it's frustrating and a little bit scary.
"It's the first time in the history of our company we've taken part in such a blind auction but there you have it. The money we are not sure we would get or not - the season-ticket money which is crucial to us - we have no idea whether it would be delivered to us if we are the successful bidder.
"This has made it an incredibly difficult task to come up with an offer. Our bid is still higher than his [Bates'] last published bid but it is lower than we originally had."
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