Sheikh Abdul bin Mubarak Al-Khalifa of Bahrain is ready to launch a takeover for Leeds United, according to reports this afternoon.
It is claimed that the sheikh is part of a consortium and a deal could go through by the end of next week. The sheikh is known to be a fan of Leeds, who began the day bottom of the Barclaycard Premiership and have debts of around £78million.
Leeds admitted to the Stock Exchange earlier this week that they might have to seek the protection of an administration order if they are unable to restructure their debts.
Leeds would be in even more financial trouble if they were relegated, losing up to £15million in revenue.
The sheikh is reported on the L'Equipe website, www.lequipe.fr, as saying: "It's a group of investors in the Gulf, not only Bahrain, that I direct myself that is going to take over the English club."
He added: "My relations with the club goes back 25 years and I am saddened by its current situation because they are bottom of the table."