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50-50: Liverpool vs. Real Madrid

Champions League 1 day ago
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By ESPN Staff
Dec 27, 2006

Leeds allay fears after Elland Road sell-off

Leeds have confirmed Elland Road has been sold to new owners, but have assured fans the ground's future is in safe hands.

A weekend newspaper reported Elland Road, sold by the financially stricken club's previous board in November 2004 to Manchester businessman Jacob Adler, had been sold for a second time in as many years to latest owners Teak Trading Corporation, based in the British Virgin Islands.

United chief executive Shaun Harvey said: 'We can confirm that the change in ownership in relation to Elland Road actually took place in excess of 15 months ago.

'The change of ownership has no material effect on Leeds United as we still have the same lease as originally entered into, albeit with a different company.

'More importantly, the buy-back provision has also been transferred. The club have no concern that the company who now own Elland Road is based in the British Virgin Islands. It makes no difference to the club.

'The ownership of the stadium is noted at the Land Registry and has been on the public record for a significant period of time.'