Thursday, 13th March, 2014
Leeds United fans have been assured that there is no prospect of the club plunging into administration, despite prospective owner Massimo Cellino reportedly bankrolling the club's expenditure.
Cellino is waiting for the green light from the Football League to assume control of 75 per cent of the Yorkshire giants, but in the meantime Leeds have signed goalkeeper Jack Butland and striker Connor Wickham on loan.
mobile ad
The Italian businessman is said to be covering Leeds' outgoings, despite his takeover not yet having gone through. And it has been speculated that if Cellino backs out or is refused permission to take control, Leeds could be in financial trouble.
But managing director David Haigh claims this is certainly not the case, telling the Yorkshire Post: "The club is in good hands. It has money and there is no chance of the club going into administration. None whatsoever.
relatedNewsStory
"I keep hearing these whispers, where people have put two and two together to make 550. We had a winding-up order recently, which caused fans to panic.
"But the club is not in any kind of precarious financial position. Either now or in the future. It is not true and never has been.
"As a director of a company, there is a test of solvency that you have to go through. Can the company meet its debts, as and when they fall? And yes, Leeds United can."
Don't bet on football until you've visited Inside Bet! Interesting markets, top tips, betting facts – get all the info before you bet.
