Leeds owner Ken Bates has shed light on the proposed investment in the club by revealing details of who they are in negotiations with for the first time and also adding that talks are at an "advanced stage".

The Championship outfit originally said they were in exclusive discussions with unnamed investors on June 26, but since then little has happened to appease fans who have grown increasingly disgruntled with a perceived lack of investment from 80-year-old Bates.

All the club had said previously was that the exclusivity period was over and that talks remained ongoing, but in a statement released on Saturday, Bates confirmed that he has been negotiating with a banking institution who are a limited company and have interests across the Gulf, Asia and Africa.

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