Creditors have granted Leeds United, the UK football club, a further four-day reprieve as it struggles to raise fresh funds to reduce its debt and avoid becoming the first club in the English top flight to go into administration.

Leeds United, which has been struggling to service debts of more the £80m (€116m), said in a statement to the stock exchange on Monday that its principal finance creditors, have agreed to extend the deadline for further funding until 5pm on Friday. The club previously had until midnight on Monday to propose a solution to the crisis.