We are pleased to announce that the board of the Football League Ltd have agreed to transfer the share in the Football League to Leeds United 2007 Ltd.

The Football League have transferred the share in 'exceptional circumstances' and have imposed a 15-point penalty for the start of the 2007/08 season. The club have appealed against this sanction. The timescale for the appeal is not yet known.

The club has received an amount of criticism from supporters for not keeping them up to date with developments during what has been a very difficult time for us all. We appreciate this policy was difficult for fans to accept, but please be assured that this was being done in the best interests of Leeds United which is justified by the return of the share.

We are now planning the appeal and we are able to complete the squad re-building for the 2007/08 season, albeit with only one week to go before our first League One game at Tranmere.