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Written by Shields53
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Friday, 18 September 2009 13:24 |
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Leeds city council voted last night to purchase the Leeds United Thorp Arch training ground and academy. The buy back deadline in due to expire on the 10th of October and Leeds United had asked for assistance from the council after failing to secure the funds themselves.
The council move follows the decision made a few weeks ago not to loan Leeds United to enable them to buy back the facility themselves. The council will lease Thorp Arch back to the club on commercial terms for a fixed period of time with the option to buy the facility at the end of this term.
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The council are now to present their offer to the club for agreement before proceeding with the purchase. There are thought to be conditions placed on the deal based on Leeds United running a series of community football initiatives.
The academy and training facilities were sold by Gerald Krasners Adulant Force consortium to Manchester based property developer Jacob Adler for four million pounds back in 2004 to fund the clubs massive debts.
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