A Bradford businessman has been part of a Yorkshire consortium plotting an ambitious takeover of Leeds United Football Club.

The group of business people planned to revamp the club on a model worked successfully by Spanish giants Real Madrid with around 30 joint owners each investing in the business.

However, the plans - which it is understood would have included investment by a major Leeds-based retailer - have now been put on hold by the group because they fear the club's financial situation is too precarious.

Today, Bradford businessman Darren Allison, who runs a successful manufacturing company in the city, revealed how he had been a part of the proposed takeover bid.

The boss of Clearwater Collection, which manufactures free-standing baths, said the plan was to transform the club into a major sporting enterprise which would become a centre of investment and boost the profile of the whole West Yorkshire region.

He said everyone in the consortium was united by a passion for sport and a determination to see Leeds United re-established as a force in British football. The main driving force was a Leeds lawyer who drew together the consortium and invited Mr Allison to join the group, which also included officials from Leeds City Council.

Talks were progressing well until earlier this week when the project - codenamed 'A Catalyst for Change' - was called-off.

It is understood the decision to cancel a key meeting planned for Monday was taken after detailed examination of the club's accounts.

"The initial talks were very positive," said Mr Allison. "But as we looked in detail at the figures and the balance sheets it looked less attractive. We could put money in but it would be a bottomless pit. We all agreed that we wanted to create a real empire that would put Yorkshire back on the sporting map but because of the state the club was in, we couldn't take things forward."

During the period the project was ongoing, various sub-committees were set up and meetings took place. The basis for the model was that each director would be committed to investing an agreed amount of money into the business over a lengthy period.

Mr Allison was approached to join the consortium due to his long-standing involvement at Elland Road as a sponsor. He has also supported Leeds Rhinos, Bradford Bulls and Bradford City through his company.

Mr Allison claimed there were also plans afoot for Leeds City Council, which owns the land around Elland Road, to build a new stadium. "It would be a question of creating a true sporting village with all sorts of things going on around the stadium," he said.

"The whole philosophy of this move was to use the success of the club to bring people into the region and encourage people to invest in the region," said Mr Allison. "We were prepared to help build the club up by using our own hard-earned cash.

"There would have been no question of crazy contracts with players."