LONDON: Greek shipping tycoon Andreas Dracopoulos has pre-empted the possibility of a takeover at Leeds and sold 6.5 million of his shares in the cash-strapped Premiership club.
Dracopoulos, once the largest non-institutional shareholder in Leeds with over 4% of the company's stock, now owns just over half that figure after selling 3.5 million shares at 3.25 pence each.
He sold a further three million shares at three pence each, raising a total of £200,000.
Dracopoulos's actions seem to be in anticipation of an eventual takeover of the club. Two groups of businessmen in Yorkshire are vying to rescue the club, which has debts of over £100 million.– AFP