A £12 million offer of extra cash for new Leeds signings could be in jeopardy if a wrangle over a planned takeover in the High Court in London is not settled by the end of the month.

Simon Mortimore QC, representing Leeds directors Leslie Silver and Bill Fotherby, said the dispute needed to be resolved by July 31st when Caspian Holdings had scheduled an extraordinary general meeting to rubber-stamp the deal.

Caspian, a media group, has agreed a £16 million offer with the two Elland Road board members for the club which is being fought by the other major shareholder Peter Gilman. The Caspian chairman, Chris Akeis, has offered a further £12 million to be made available for new signings.