Players backing Leeds survival bid
LONDON, England (Reuters) -- Players at debt-laden Leeds are likely to agree to a wage deferral to help the Premiership's bottom club with its financial problems, officials said.
Chief executive Trevor Birch met the squad and the Players' Union (PFA) to discuss the plan to help the club save five million pounds ($9m) to continue operating until the end of the season.
"There has been a positive meeting....," Leeds said. "The players are now fully aware of the financial position of the club and are prepared to offer support should it be required."
Wages at the club amounted to 56.6 million pounds ($102.4m) in the year to June 30 2003, or 88 percent of turnover, with Premier League record losses of almost 50m pounds.
Leeds have another week to find the money they need to cover operating costs until the end of the season after agreeing a reprieve with creditors, who are owed more than 80m pounds.
The understanding provides a further extension to February 6 conditional on the "achievement of certain financial and other covenants."
Leeds may be forced to sell a player such as striker Alan Smith or goalkeeper Paul Robinson, but Birch has made it clear the priority is staying in the lucrative top flight and keeping players is the best way to achieve this.
