Leeds City Council has become a major shareholder inLeeds United football club.
The club originally agreed to accept £2.5m of shares in LeedsSporting as part-payment for selling the lease to the Elland Road groundfor £11m. A fall in the share price of Leeds Sporting sinceDecember means that the council will have to take a stake 25% biggerthan it originally envisaged.
The council could also find itself further involved if Leeds isforced to return to the market to fund its £40m stadiumredevelopment plan.
- The Times 09/03/98 page 49
