Leeds to avoid points deduction

Club chief executive Trevor Birch made a statement on Monday confirming a week-long extension had been agreed with creditors.

Leeds face the prospect of going into administration if they fail to reach agreement on their �83m debts.

Birch has also managed to agree the possibility of a further two-week extension up to 6 February.

However, that extension will only be allowed on certain financial conditions being met.

Leeds have confirmed talks have been held with "interested parties" in the last seven weeks, but a saviour for the club has yet to be found.

Potential investors are likely to be jittery over the club's precarious Premiership position - bottom of the table and five points away from safety.

Leeds would expect to suffer a �20-25m loss if they are relegated.

Former deputy plc chairman Allan Leighton has long been mooted as a potential saviour, but has yet to show his hand.

Sheikh Abdulrahman bin Mubarak al-Khalifa's credentials were discredited by Leeds on Friday amid speculation he was due to save the club with a �35m cash injection, with #15m supposedly available for new players.

Leeds claimed they had "not received any satisfactory evidence from Sheikh al-Khalifa that funds exist to fulfil any proposal currently under discussion between him and the company."

Birch needs to find �5m to see Leeds through the closing months of the season, meaning either a player will have to be sold before the end of this month's transfer window or the playing squad will be asked to take a wage deferral.

Skipper Dominic Matteo has taken the lead and stated he will do so, and is understood to be backed by striker Alan Smith and midfielder Eirik Bakke.

But whether every player will agree to such a proposal remains to be seen.