Tycoon Simon Morris remains confident his offer to buy Leeds United will prove too good for the club's creditors to turn down.

Leeds property developer Morris recently submitted plans for a £10million takeover at Elland Road, while chairman Ken Bates is hoping to retain control after recently placing the club into administration.

Earlier on Wednesday Leeds' administrators, accountancy firm KPMG, announced a meeting will take place on June 1 when creditors will vote on who they want to take the club forward.

Morris told PA Sport: "The administrators released the Company Voluntary Arrangement (CVA) this morning and Mr Bates has offered to pay the creditors 1p in the £1.

"I would like to think a fair and reasonable deal will be done on behalf of the creditors.

"Our package to pay creditors is £10million, while the whole takeover package runs into hundreds of millions of pounds worth of commitment.

"He's (Bates) hanging on for dear life. The fact that he put in his offer, which equates to £350,000 if the club's reported debt is correct, shows there is hardly loads of capital there."

Leeds went into administration on May 5 with debts of £35million following a winding-up order issued by the Inland Revenue, who are owed £5million in unpaid taxes.

The administrators immediately agreed to the sale of the club to a new company, Leeds United Football Club Limited, of which Ken Bates is a listed director.

But the sale is subject to approval by the club's creditors who will be furnished with full details of takeover plans put forward by other consortia at the June 1 meeting.

It has been reported former West Ham chairman Terry Brown, a Dubai-based consortium headed by former Leeds manager Don Revie's son Duncan and two separate Irish consortia are also in the running.

Joint administrator Richard Fleming, a partner at KPMG Restructuring, said: "At this meeting I will outline the proposal to sell the club to Leeds United Football Club Ltd and will also inform the creditors of any other matters which could influence their decision; such as details of the level of interest from other potential buyers of the club and indeed any alternative bids.

"Creditors will then be invited to vote on the proposal and any modifications that emerge.

"The proposed sale enables the club to survive and offers a minimal return to creditors.

"We know from preliminary discussions that the deal is supported by some of the larger creditors by value, however it still requires a majority of 75% to be approved.

"If the proposal is carried, the CVA process will move forward, which will involve agreeing the club's new ownership with the Football League and paying a dividend to creditors.

"If not, we will seek an alternative solution, and again request creditor approval."

Morris, chief executive of SR Morris Group, plans to develop land around Elland Road and build a new 50,000 all-seater stadium as part of a £400million entertainment complex.

Morris was the leading shareholder in the Yorkshire consortium that were in charge at Elland Road for 10 months from March 2004.

Another interested party fronted by Revie has confirmed they want to open takeover talks with Bates.

Revie, son of legendary former manager Don Revie who moulded Leeds into one of Europe's most feared teams during the 1960s and 70s, declared his interest in taking control at Elland Road last week.

Revie, who heads Soccerex, a football conventions and forums company, claims finances are not a problem as the Dubai-based Maktoum family are among his backers.

Morris has also written to Sports Minister Richard Caborn and Leeds MP Colin Burgon seeking a meeting with them to discuss his plans.