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Leeds' new takeover talks

English Premier League club Leeds United will open negotiations today for another takeover bid for the club.

The team, relegated at the weekend into Nationwide Division One, will open talks with businessman Steve Parkin, who had a £23m bid turned down last week.

The club, which faced financial ruin after a gamble on Champions League football backfired, is expected to sell off its biggest stars in a bid to try and balance the books as it faces up to life outside the lucrative Premier League.

Local business consortium Adulant Force took control of the club in March for £30m – a deal which saved the club from slipping into administration.

It settled the club’s £100m mountain of debt after agreeing a deal which saw creditors accept 20p in the pound.