Ken Bates has today regained control of Leeds United after a recount of votes taken at last week’s creditors’ meeting confirmed his offer to buy back the club had been accepted by the slimmest of margins.

KPMG, the club's administrators, were forced to adjourn a stormy meeting on Friday after deciding a recount was required to decide the club’s immediate future.

Some creditors argued Bates’ offer to pay back money owed by Leeds was not the best on the table and claimed other parties interested in buying the club had not been given a fair chance.

Bates, who placed Leeds in administration with debts of £35million on May 4, required 75 per cent of the vote to have his offer of 1p in the pound accepted by creditors and the original count on Friday showed he had 75.02 per cent.

A recount over the weekend totalled 27,178,255 votes in favour of the former Chelsea chairman, and 8,965,174 against, giving him 75.20 per cent of the vote.

After his victory, Bates was in typically bullish mood, vowing to take the club forward. "The important thing now is we make progress," he said. "There’s been a suggestion of challenging what has happened, but you can’t challenge for the sake of challenging, you have to have a reason.

“If someone decides to challenge what’s happened they will affect the running of Leeds United - and we will take them on because we want to move forward.”

Bates also insisted talks with would-be investors were ongoing, but dismissed reports Duncan Revie, son of legendary former Leeds manager Don, is poised to launch a takeover.

“(Director) Mark Taylor has undertaken with the administrator to talk to every would-be investor. We’ve said for two years we’re quite happy to have a partner, but we’ve met a lot of timewasters. Even recently, Duncan Revie has never made an offer, and I keep reading about a Mr Maktoum.

“He has been allegedly backing three other consortia so I think we can assume some of it’s rubbish.”

A statement from Leeds’ administrators KPMG read: “Following the Leeds United creditors meetings that have taken place on Friday, June 1 and Monday, June 4, the administrators of Leeds United AFC can confirm the result of the vote on the company voluntary arrangement (CVA) proposal to sell the club to a newly-formed company, Leeds United Football Club Ltd.

“Creditors have approved the CVA proposal, which means, subject to Football League and Football Association approval, the business and assets, including players, of the club will transfer to Leeds United Football Club Ltd, the directors of which are Ken Bates, Shaun Harvey and Mark Taylor.

“The CVA proposal was approved by 75.20 per cent of the creditors who voted, by value. It required 75 per cent of the vote. The creditors will receive an initial dividend of 1p in the pound, with a substantial additional dividend to follow in the event that the club regains Premiership status within five seasons.”

Richard Fleming, joint administrator and KPMG restructuring partner said: “I’m satisfied that in voting to accept this CVA proposal the creditors have approved a solution that allows the club to plan ahead for next season; reduces uncertainty for all those with an interest in Leeds United; provides some return for creditors and avoids liquidation.

“Leeds United Football Club Ltd must now seek approval from the Football League and can begin to rebuild for next season.

“The supervisors can also begin the process of agreeing creditors’ claims for dividend purposes.”

Explore Football

• Premier League

• Football League

• Scotland

• European Football

• International Football

• TheGame

• Live Match Tracker

• The Fink Tank

• Fantasy Football