Last Updated: Mon, 10 Sep 2007 15:09
Ken Bates has admitted he has held talks with former Newcastle chief Freddy Shepherd but has denied the club is up for sale.
The Leeds chairman has said he is looking to bring in investors, of which Shepherd could be one, but denied weekend reports that the club was for sale.
He told Yorkshire Radio: "This is inspired speculation because Freddy and I had lunch last week in Newcastle.
"But he's not about to swoop in a 'sensational deal' for Leeds and I'm not about to sell it either.
"Inevitably the subject of football came up, and he's still a bit sore about what happened at Newcastle. He'd like to get back in and I would like an investor, so the two fit in.
"Freddy is a wise old man - although he's younger than me - he's experienced and he would be an ideal partner, but it's gossip. I'm here for the long haul."