Leeds - Admin and all that.

[Starry]

You've got a point there, LB, but I can't see that anyone can do anything about the position that Leeds are in. Their board are just incompetent, they are not trying to destroy the football club.

They are far from incompetent.

They are clever men who have shafted us royally.

 

[Starry]

I
How come the Football League haven't taken a hand in this? Why have a club who are so heavily in debt been allowed to run up even more debts? It's astonishing.

Leeds aren't heavily in debt. I am not sure why people keep banding that around. The debt is now just over £20m, and while on the higher end of the scale it is in line with many many other football clubs.

 

[Lokki 7]

The fact is Leeds football club will get what they deserve as a result of dire mis-management. Unfortunately it will once again be the real, but powerless football fans that are the biggest losers.

 

[El Presidente]

Leeds aren't heavily in debt. I am not sure why people keep banding that around. The debt is now just over £20m, and while on the higher end of the scale it is in line with many many other football clubs.

I don't want to see Leeds, Wrexham or any other club in administration, especially if it is done for 'political' reasons.

I appreciate that the club has done well to reduce its debts, and love hearing your chairman on the radio, he is the epitome of an untrustworthy accounting weasel of a certain persuasion.

Am I right in assuming the club have effectively sold the income from season ticket sales for the next 'X' years as one of the arrangements with a financial institution? If so, servicing a debt of £20million is that much more difficult if you have no income to pay it off.

As for the treatment of Gregan, the chavs that had a pop at him exist at all clubs before we get too high handed (remember "Get back to the jungle" at Gresty Road from one of ours directed to the black referee?). Shame that security did not give the morons a slap then let Gregan finish them off (though he would probably miss the target).

 

[Starry]

No, the income sold against season tickets for the next 20 years was a Ridsdale deal. The creditors who he made this deal with accepted a 21p in a £1 payement when Leeds PLC went into admin. That debt is no longer.

Hearing Krasner on the radio makes me wince. "We cut the debt from £105m to £25 in 8 months" actually you didn't, nearly all of it was written off when the PLC went into admin, the remainder was already all restructured thanks to the Legend that is Trevor Birch.

All Krasner and his board have done is sell, sell, sell. And not been to shy in selling to themselves either.

 

[Dick Knights Mumm]

Leeds fans I knew were worried when players like Fowler were bought in over-the-top deals. Leeds fans have been shafted like so many other fans before them.

 

[The Laughing Bluebird]

Leeds aren't heavily in debt. I am not sure why people keep banding that around. The debt is now just over £20m, and while on the higher end of the scale it is in line with many many other football clubs.

Come on Starry, that's bollocks. Leeds are obviously heavily in debt or administration wouldn't be looming just over the horizon. The size of that debt by comparison to those at other clubs is immaterial if Leeds don't have any assets or a sound business plan.

Cardiff City are probably deeper in debt than Leeds (the last figures released were above £20 million), but we have a new stadium in the pipeline and the associated retail developments will apparently cover that debt and more besides.

If those plan go tits up for whatever reason then there's every chance we will be in big trouble at some point in the not too distant future. That's the gamble our board has taken I suppose.

But to suggest that Leeds United aren't heavily in debt is ludicrous under the current circumstances. If the club isn't heavily in debt, then why is administration a possibility?

 

[Starry]

£105million was Leeds heavily is debt. £22m is not heavily in debt. Many many other football clubs have similar debt.

Admin is a possibility because we have/are running out of money and there is nothing left to sell.

We could have £1m of debt and still run out of money, or we could have £500m of debt and still run out.

 

[The Laughing Bluebird]

£105million was Leeds heavily is debt. £22m is not heavily in debt. Many many other football clubs have similar debt.

£2-50 is heavily in debt if you can't afford to pay it.

What relevance do the debts at other clubs have if their circumstances are different?

 

[looney]

20 million is heavily in debt outside the prem, especially when your paying rent, have no players worth much as collaterall.

Look at sheff Wed and Bradford if you want an acurate comparison.

Leeds are in deep shit and their paying silly money for a striker whos input has got preston to...mid table?


I watched them play Rotherham last Monday and I honestly beleive an injury crisis or a mini one will send leeds down. I wouldn't bet on them to stay up regardless anyway.


Leeds should bite the bullet and go into Admin rather than a slow death.

 

[El Presidente]

Leeds are lucky they did not have a ten point deduction as the plc went into adminsitration for ten minutes on technical done deal to reduce the creditors as Starry said above.

 

[Starry]

We were in the premiership when the plc went into admin and wouldn't have gotten a ten point deduction anyway.

 

[sparkie]

The reason the 10 point penalty is there is to stop clubs who spend money they don't have on players and then write off the debt by going into Admin, gaining an unfair advantage over clubs who live within their means.

Imagine:

Healy's goals mean Leeds finish 1 point above the albion, sending the albion down in 3rd from botton place. Leeds purchase of Healy tips them into Administration, writing off much of the debt. In effect Leeds stayed up by getting in a player they couldn't afford.

Is it fair on Leeds to deduct 10pts? Or is it fair on the albion not to?

 

[e77]

The stupid thing is Risdale actually meant well, unlike with Doncaster, Brighton and Wrexham (to name three).

I am not sure if it worse having a crook or an idiot running the show !

 

[Kinky Gerbil]

I've got to say from a purely selfish point of view I really hope that Leeds go into Adimistration because I think it will send them down alongside Gillingham and Rotherham BUT I do feel a little guilty for thinking like this.

However much it's their own fault that they are in such a bad position (plus the fact that I've never been thir biggest fan) I don't wish any club be in the position they are.

What's everyone else thinking?

so its wrong for mk dons to say the same thing but ok for us?

 

[Wardy]

I would not want to see any club go to the wall. It is not the fans fault how ever you look at it. Even if they did know the ins and outs of the deals (and I do not think they did) why would you think to question the chairman when you have no reason to? At the time Leeds were a BIG club, and from the outside were living within their means. It was not till they stopped performing to the standard that the board had gambled on that it all come out. If they had gone on and won the European Cup then they would more then likely still be a top Premership club.

 

[bigc]

Re: Re: Leeds - Admin and all that.

so its wrong for mk dons to say the same thing but ok for us?

i was just thinking that

 

[Robot Chicken]

I would like Brighton to stay up without Leeds having to go into administration. If United go down anyway, then so be it.

After all, I count myself half Loiner...!

 

[dougdeep]

I don't care how we stay up. Anyone disagree?