Fans group plots to buy Leeds Utd

[surrey jim]

is this anything to do with you league 1 champions??

Fans group plots to buy Leeds Utd

Leeds United's Supporters Trust says it is in a position to make a proposal to buy the club, BBC Radio Leeds reports.
Leeds' relegation to League One is likely to be confirmed this weekend, barring an unlikely sequence of events.

The club are in major financial trouble but the supporters trust is said to be prepared to provide proof of funds.

One option for the club could be to enter administration before the end of this campaign to avoid a 10-point reduction at the start of next season.

Leeds go into their final game of the season at Derby three points off safety and with relegation rivals Hull holding a nine-goal advantage.





http://news.bbc.co.uk/sport1/hi/football/teams/l/leeds_united/6624499.stm

 

[Wozza]

They've just gone into admin.

 

[surrey jim]

well they could buy it out of admin rather than Master Bates

 

[League1Champions]

No way id have to sell tut whippets

 

[surrey jim]

No way id have to sell tut whippets

you dont fancy buying it then??

 

[jolsonhammond]

No way id have to sell tut whippets

You'd do reet.

I reckon anyone who 'invests' their own money into Leeds is a complete tool.

 

[hitony]

Shouldnt this thread read............Fans dig into there pockets for some loose change to buy Leeds United ?

 

[surrey jim]

You'd do reet.

I reckon anyone who 'invests' their own money into Leeds is a complete tool.

Ken Bates

 

[jolsonhammond]

Ken Bates

Egggggsactly

 

[e77]

Haven't the administrators agreed to sell it back to a new company started by Bates?

 

[Starry]

You'd do reet.

I reckon anyone who 'invests' their own money into Leeds is a complete tool.

why?

 

[Publius Ovidius]

some reports are that bates bought it for a £1

 

[surrey jim]

Haven't the administrators agreed to sell it back to a new company started by Bates?

yup

 

[ChapManiA]

Bates was appealing for buyers/investors earlier in the week, although he was never actually going to sell, for months he had administration planned, reduce the debt, then has his own company to but it. End result is that Uncle Ken himself will make more profit out of Leeds in the future, as the club will be a more attractive proposition to a buyer as there is no debt.

 

[Crawley Cobbler]

Leeds = Crawley

Bates = Majeed

 

[bailey]

Haven't the administrators agreed to sell it back to a new company started by Bates?

Surely the administrators are required by law to consider all offers and obtain the best deal for the creditors?

Of course, if Ken Bates and co are the biggest creditors then it's a moot point.

 

[surrey jim]

Surely the administrators are required by law to consider all offers and obtain the best deal for the creditors?

Of course, if Ken Bates and co are the biggest creditors then it's a moot point.

all creditors vote in one meeting where a 75% majoroty counts, there is then another vote where anyone asscoated with Bates can vote on (his consortium) they are responsable for around £22m of the £35m debt,

in the second vote there is a 100% majoroty needed for the deal