Leeds Fans Utd claim 'we are the real deal and have proved it'

Supporters group Leeds Fans Utd (LFU) believe they remain 'serious contenders' as potential purchasers of the Elland Road club, despite the recent 'U-turn' by owner Massimo Cellino.

LFU had been in talks with Cellino over buying his 75% majority stake in the Championship club, until the Italian changed his mind last week and withdrew the offer.

The 59-year-old refused to commit to an exclusivity agreement and accused LFU of telling "fairytales".

But LFU insist they could have sourced the necessary funds and, if Cellino had signed an exclusivity period, a takeover deal could have been completed within three months.

And LFU chief executive Dylan Thwaites explained in a statement: "Until we had absolute certainty that the deal was going ahead, we cannot raise capital and cannot risk wasting shareholder's funds.

"Therefore, having called any bluff by producing a viable plan, we needed to smoke out any insincerity as soon as possible.

"This is why we so heavily pressed for exclusivity. I have got no doubt that we would most likely have completed a deal if Massimo had signed exclusivity.

I have no doubt we would most likely have completed a deal if Massimo had signed exclusivity.

"On Wednesday he withdrew the offer but in that short time our detailed announcement had had a seismic effect.

"Uniformly the reaction of the high net worth and business community was positive - they recognised this as a professional and convincing plan.

"This has resulted in dozens of newly opened doors across potential investors, buyers and within the football community, authorities and media."

Cellino is presently fighting a second Football League ban for another tax evasion offence in Italy and under pressure from fans to sell.

Thwaites said LFU's preferred route now was to buy a minority stake in the club, adding: "Massimo is now out in the open and engaged in selling the club.

"We are in substantially better position now than 10 days ago. We have proved we can play at minority or majority level.

"Potential buyers have seen the appetite for fan ownership at Leeds. Bad buyers have been scared away or at least been forced to alter their plans, while good buyers have been encouraged to push on."