Leeds has confirmed an exclusivity period granted to a potential investor has ended - but would still welcome approaches from potential new partners.
It is understood concerns about the takeover emerged when Leeds chief executive
The Elland Road club has now released a statement which reads: Leeds United ('The Club') announces that the exclusivity period granted to a potential investor as mentioned in the statement of 26 June has ended.
"The club remain happy to continue discussions, but not on an exclusive basis, so as not to prevent other options passing.
"The first priority must be to ensure that the credibility of any future investor or ultimate owner is such, that the Leeds legacy and its future is in safe hands, back in the Premiership.
"The club will continue to be receptive to approaches from potential new partners who can establish that they have the necessary credentials.
"Meanwhile, it is encouraging that there is a new spirit at the club under the management of
Leeds first confirmed it was in talks with an unnamed group of potential investors on
The club then announced on
But Leeds had steadfastly refused to comment further on the matter, leaving fans mystified and angry at a perceived lack of progress.
During this time LUST has twice issued public pleas for information on behalf of the club's supporters - but nothing had been forthcoming until this announcement that the deal had collapsed.
Bates, 80, who took control of
He is not scheduled to be present at this weekend's home Capital One Cup tie against Shrewsbury but is expected to return for the opening-day npower Championship clash with Wolverhampton at Elland Road the following week.
Yeovil have been promoted to the second tier of English football for the first time in the club's history after a 2-1 win over Brentford in the League One play-off final.