Member Article

Leeds United repay £1 million to Sport Capital - after the consortium’s assets are frozen

Leeds United have repaid a loan of nearly £1 million to Sport Capital, ensuring that the High Court in London can lift Sport Capital’s winding-up petition next week.

According to the Yorkshire Post, the debt owed to Guernsey-based Sport Capital was repaid a day after Sport Capital had its assets frozen by a court in Dubai, due to the incarceration of affiliate David Haigh over alleged fraud at the club’s previous owner Gulf Finance House.

Sport Capital lent money to Leeds in November of last year but moved to call in a £950,000 loan at the start of April, shortly before Massimo Cellino’s takeover of United.

The club opted to contest the petition but were ordered by the High Court in London last week to paid back the money before this Monday, June 23.

Leeds’ bank account remains frozen but the club have been working in the past fortnight to find a way to pay the wage bill.

This was posted in Bdaily's Members' News section by Clare Burnett .