The battle for control of Leeds is expected to be resolved in court, it was revealed at a stormy creditors' meeting at Elland Road today.
Creditors voted by the slimmest of margins to accept Ken Bates' offer to buy back the club but it was so close administrators KPMG were forced to abandon the meeting and call for a recount on Monday morning.
Some creditors argued Bates' offer to pay back money owed by Leeds was not the best on the table and claimed other parties interested in buying the club had not been given a fair chance.
Bates, who placed Leeds in administration with debts of £35million on May 4, requires 75 per cent of the vote to have his offer of 1p in the pound accepted by creditors and the original count showed he had 75.02 per cent.
Bates was forced to call in the administrators before the last Coca-Cola Championship game of the season after the Inland Revenue issued a winding-up order due to an unpaid bill of £7million.
But with the approval of KPMG, the club were immediately sold to a newly-formed company, Leeds United Football Club Limited, of which Bates is a listed director.
It is understood Bates faces opposition from five different consortia, with some now considering legal action should Bates emerge victorious.
Former Leeds chairman Gerald Krasner, who advised creditors to throw out Bates's bid, said: "They disallowed substantial votes on both sides so there may be challenges in the High Court."
Steve Mohun, a Leeds fan and creditor, said: "The mood of the creditors present was overwhelmingly hostile. This is not the end of it - no way.
"The legal wrangles could leave the club in limbo for months and they won't be able to buy or sell players until this is sorted out."
KPMG have refused to identify the five would-be investors ahead of the company voluntary arrangement (CVA) meeting, but local property developer Simon Morris and Duncan Revie, son of legendary former Leeds manager Don and fronting a bid from an individual Dubai-based backer, have both officially lodged their interest.
A third consortium to have lodged proof of funds with KPMG, London-based Redbus Group identified themselves today, but revealed they would be reluctant to take the legal route.
Chairman of Leeds United Supporters' Club Ray Fell said fans would be "bewildered" by the latest events to unfold at Elland Road.
Fell said: "They were hoping for some indication of where Leeds will be going but that has not happened because this will run and run for a while.
"It's possible that this will go to the courts. It could be any one of the creditors who can challenge it legally and it will not be a surprise to me if that happens from what I have heard."
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