Transfer news: Leeds United confirm 'funds are in place' for new signings

The Yorkshire club are soon to be taken over once more

A view of Elland Road (GETTY IMAGES)

Leeds United's potential owners Sport Capital, close to acquiring a minimum 75 per cent stake in the club, have reassured fans that Brian McDermott will be given financial support this month.

The consortium - involving current managing director David Haigh - are close to completing the transaction after already investing £6m into the Yorkshire club over the last three months.

After twenty-four games, the Championship side are eighth in the table and just a point off sixth-placed Ipswich Town.

Previous Leeds managers, most notably McDermott's predecessor Neil Warnock, have been vocal in their unhappiness with the lack of finance at Elland Road but it now appears that the three-time English champions will finally be able to mount a serious challenge for a return to the Premier League.

Andrew Flowers, a member of the group and managing director of the club’s main sponsor, released a statement on United's website this morning to confirm the news.

He said: "I’m delighted to confirm that I am part of the consortium that will be acquiring the major shareholding in the club.

"As a lifelong Leeds United fan and as a businessman, I can assure other fans, that while the process is being finalised, we have been working hard to ensure that our due diligence was completed as quickly as possible and that there are funds in place ahead of completion to support the manager during the opening weeks of the January transfer window."

Haigh, also a major figure in the takeover, added: “In the meantime, as Andrew has said, we have ensured that there are funds in place for the January transfer window and we are working closely with Brian McDermott regarding his plans.

"Hopefully, we will all see some of this work come to fruition in the coming days."