Shares in debt-ridden Leeds United have soared after a member of Bahrain's royal family said he might bid for the club whose fortunes have slumped both on and off the pitch.
Leeds United shares rose as much as 34 per cent to 5.375 pence this morning after Sheikh Abdulrahman Al Khalifa, widely reported to be a supporter of the club, said he was exploring ways to help Leeds and might make an offer.
A Leeds United spokesman said the company had not received any bid approach, and the stock later lost some of its earlier gains to trade up 18.75 per cent at 4.75 pence.
Leeds has debts of around 80 million pounds and the club, which is currently at the bottom of the premier league, has warned it might to have call in administrators.
Some investors had expected a possible takeover wave for England's football clubs after Russian billionaire Roman Abramovich bought Chelsea, but the high debts of many teams have made similar deals tricky.
League champions Manchester United are currently the subject of intense takeover speculation, but Manchester is far more attractive than its rivals because it is one of a few soccer clubs that is actually making a profit.
In October, Leeds reported a pre-tax loss of 49.5 million pounds for the 2002-2003 financial year. Like many clubs, its debts and losses have risen due to the rising wages of players.