Leeds put up for sale

The future of Leeds United hung in the balance last night after the administrators put the debt-ridden club up for sale.

KPMG said it had made the decision because of a legal challenge by HM Revenue and Customs over the £7.7million it is owed by the club and is challenging club chairman Ken Bates's re-sale.

HMRC is unhappy at Bates's plan to pull the club out of administration by paying creditors just 8p in every £1.

Bates has already warned that defending any court action could cost the club, which has debts of £35m, its future.

KPMG said it had set a deadline of 5pm on Monday for offers for the club.

Earlier this week, businessman Simon Franks said he was ready to buy the club through his Redbus investment vehicle.

Before last night's shock move the Football League were due to meet next week to discuss the growing crisis.