Leeds Go Bust

In one of the most dramatic falls from grace in recent years, Leeds United have gone into administration, subsequently been docked 10 points for this season (FA Rules) and will be relegated.

It looks like Ken Bates (formerly of Chelsea "fame") has set up a new company to buy what's left, and inject the club with the necessary cash to keep going. Leeds spent a ridiculous amount of money trying to compete with Man Utd et al, and it obviously was a huge gamble that didn't pay off.

BBC SPORT | Football | My Club | Leeds United | Relegated Leeds in administration