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date: Sat, 17 Oct 2009 00:52:05 +0100,    group: uk.sport.football.clubs.leeds-united        back       
fkn conservative councils   
Leeds United have failed to buy back their Thorp Arch training ground but 
will continue to rent the site for the next 20 years.

Leeds city council had planned to buy the training ground for £6m and lease 
it back to the club.

However that deal has fallen through because of what the council are 
describing as 'uncertainties'.

Leeds have exercised a clause in the current contract to remain a tenant of 
Barnaway Limited for another 20 years.

The original deadline for the club to buy back the facilities was last 
Saturday (10 October).

The owners extended that to Thursday (15 October) but, just hours before the 
midnight deadline, the council asked Leeds for clarification on a few final 
issues.

A statement on the Leeds United website read: "The council were not able to 
provide the club with an unconditional letter of commitment to purchase 
Thorp Arch and then lease it back to the club.

     We concur with the club that given more time these uncertainties could 
have been removed. Unfortunately, the two parties didn't have that time


      Council leader Andrew Carter
"This meant that, if the club was to have exercised the option, the club 
would have been at risk of completing the transaction in 28 days' time 
without the guarantee of funding. That was a £6m risk the club was not 
prepared to make.

"It is the club's belief that the conditions that the council sought to 
attach to the offer could all have been satisfied before the expiry of the 
28 days. However, as they were not all in the gift of the club, therefore it 
was decided not to proceed."

As well as helping Leeds United, the council believed owning Thorp Arch 
would help in any bid to host the rugby union and league world cups and 
become a stronger candidate to become a host city in English football's bid 
for the 2018 World Cup.

Council leader Andrew Carter said: "We note with some regret that Leeds 
United felt unable to exercise its option to acquire Thorp Arch before the 
deadline.

"Both parties have worked hard to remove the uncertainties surrounding the 
deal and only a small number remained outstanding.

"We concur with the club that given more time these uncertainties could have 
been removed. Unfortunately, the two parties didn't have that time."
date: Sat, 17 Oct 2009 00:52:05 +0100   author:   Dan

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