 Bates believes the club is now in a good position |
The Football League has asked for reassurances regarding Leeds United's re-sale to chairman Ken Bates. The League is concerned at the circumstances of adminstrators KPMG's decision to sell to Bates.
Each member club has a share in the Football League, but the League board's meeting on Thursday withheld the transfer of United's share to Bates.
"We'll consider the share transfer once all the relevant information has been provided," said a League statement.
"To date, no documentation regarding the sale has been submitted to the League.
"We were unable to consent to a request to consider the application to transfer Leeds United's share in the Football League."
The witholding of Leeds' share effectively suspends their membership of the Football League, but does not preclude them from playing, although clubs are only allowed to remain in administration for a maximum of 18 months under League rules.
The statement added: "Clearly any further delays in this process will be frustrating for Leeds supporters. But like Leeds fans, we recognise the pressing need for certainty regarding the future of Leeds United.
"We have agreed to convene at the earliest opportunity to reconsider the share transfer once it has been provided with all the relevant information."
The League is concerned that KMPG's re-sale to Bates for an undisclosed sum does not include a Company Voluntary Arrangement, which forces Leeds to pay back creditors from any profits made.
Football League rules state that once in administration, the share can only be handed back to a club if a CVA has been agreed by the majority of the club's creditors.
Bates took Leeds into administration before the end of last season, thereby ensuring the resulting 10-point deduction would take effect when they were already relegated from the Championship and not affect their start to this season.
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Bates' consortium won the race to buy back Leeds after KMPG said the deal provided the club with the "best chance of survival"
Leeds chief executive Shaun Harvey said: "We bought Leeds United and are now able to do everything a professional football club usually does, other than actually play professional football.
"They're considering our application which we need to be approved.
| We are ready to go, we asked the Football League to give us our share back |
"We cannot sign any new players until we get the share back, but we are able to transfer them."
The club have applied to the Football Association for permission to play friendlies, and are due to begin their pre-season at York on Friday night.
More than 10,000 fans have already bought season tickets for the coming campaign.
It is not known how much of the club's �35m debt will be paid off, but Bates is optimistic about Leeds' future.
"We will continue what we have been doing, which is clearing up the mess that other people left behind," he said.
"We are nearly out of that now, both on the field and off the field.
"We are ready to go, we asked the Football League to give us our share back then we can start buying and selling players."
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