Shares in Leeds United rose 28 percent on Wednesday after a member of Bahrain’s royal family admitted he was considering making a bid for the debt-ridden Premier League club.

Sheikh Abdulrahman Al Khalifa, reported to be a supporter of the club, said he was examining ways to help Leeds and might make an offer. Leeds, who have accumulated debts of around £80m said that they had not received a bid approach.

The Premier League club admitted last week they might have to call in administrators if talks with creditors continue to flounder.

In October, Leeds reported a pre-tax loss of £49.5mfor the 2002-2003 financial year.

The club’s problems problems date back to a spending spree under former chairman Peter Ridsdale and ex-coach David O’Leary.