Leeds being asset stripped?

[Starry]

He'll bare his arse to you again.

His conducting the fans at Ninian park this season was voted his best moment in a Leeds shirt which kinda says a lot for his football!

That said, he is back at the club though is pretending to have a *hamstring injury*, so you never know you might be graced with 90 minutes of comedy brilliance tomorrow.

 

[CHAPPERS]

Starry - sorry if it's ben done before but this latest Sainsbury business, does it pretty much mean that Leeds will be in administration sooner rather than later? What are the consequences of this?

Cheers.

 

[Northstander]

Starry...

I have just heard the Sainsbury deal backed out after looking at the books. That was on "Talk-Sport", ALLEGEDLY, the Leeds debt is worse the people being led to believe.

Is there any truth in this, if it is true it doesnt look good for Leeds United. The only consortium left

Also the last ad only other consortium left is also going back to discuss as they have found out they will need at least another
5 mil after checking the books!

Again, this was on the Radio this morning..? ?

 

[The Laughing Bluebird]

He'll bare his arse to you again. His conducting the fans at Ninian park this season was voted his best moment in a Leeds shirt which kinda says a lot for his football!

Duberry's best moment in a Leeds shirt as far as I'm concerned was the look on his face when Leo Fortune-West came on as a late sub in the infamous FA Cup tie. Duberry visibly shit himself, bottled out at the next corner, left Leo unmarked, he knocked the ball goalwards, Scott Young got on the end of it and the Premiership leaders were OUT of the FA Cup!

O'Leary said before the game that he wanted Leeds to start and finish their FA Cup run in Cardiff. We obliged!

It all went downhill for your lot from that point on......

 

[attila]

Seems to me that that if Leeds become the third club to be deducted 10 points for going into administration there will be a massive difference between them and the first two.

Northwich Vics - fans voted to sell the historic Drill Field on the basis that local council Vale Royal had given planning permission for housing/retail on the site (thus increasing its value) enabling them to pay off their debts (approx half a million) and move to new site at Wincham Park. Council then REVERSED its decision, for very dubious/local interest motives currently the subject of a court hearing, leaving them up shit creek without a paddle. Administration NOT their fault. DON'T deserve 10 point penalty.

Wrexham - well documented asset stripping operation, unspeakably similar to what happened to us. As with us, spineless 'it's a business matter, there's nothing the football authorities can do' response from the FA - followed by the ultimate football - related sanction, a 10 point deduction! Undeserved and unjust.

Leeds - massive overspend on players, overstretching on all sides to please fans' expectations with no thought of the future, followed by meltdown. (As would have happened to us if DK had started throwing money we haven't got all over the place!) 'After the feast comes the reckoning'

Is that fair? Or am I being unjust?

 

[Starry]

Starry...

I have just heard the Sainsbury deal backed out after looking at the books. That was on "Talk-Sport", ALLEGEDLY, the Leeds debt is worse the people being led to believe.

Is there any truth in this, if it is true it doesnt look good for Leeds United. The only consortium left

Also the last ad only other consortium left is also going back to discuss as they have found out they will need at least another
5 mil after checking the books!

Again, this was on the Radio this morning..? ?

That's all true.

There have been 16 different consortiums that have tried to takeover since last August, only Sainsbury and Stubbs have ever gone public. All (bar Seb until now and Stubbs) have ran fast as soon as they see the books. What the books are hiding we can only guess - it's believed its the deals/payments to ex players/managers/board members that Ridsdale made or the directors loans of this current board.

Peter Lorimer who has been used as the current boards spokesperson/puppet until very recently, told us the debt was now £18m, Karsner then echosed these statements. It's actually thought to be in the £35-40m mark.

Very little that is coming out of the club makes sense.

 

[Starry]

Starry - sorry if it's ben done before but this latest Sainsbury business, does it pretty much mean that Leeds will be in administration sooner rather than later? What are the consequences of this?

Cheers.

I am not sure of a time frame for all this, so couldn't really say sooner rather than later. Strong murmurings that a winding up order will happen come a week monday.

However, I really believe we will have a new boardmember come this time next week. A boardmember who for some stupid reason is prepared, willing and able to plough £10m into this sorry state of a football club. Whether that gives us a lifeline for a few months more while alternative funding/takeover is secured I don't know. Whether he has alternative motives, I don't really know. The man is a Leeds fan through and through though. Whether the board will let him on I don't know. He is working his damdest to try to save Leeds Utd and if he is let onto the board we'd have a whole different scenario.

The consquences of Seb failing (and he is still working to secure a takeover - just the due dilligence holds a few stumbling blocks) doesn't directly led to admin. It was never a seb fails = admin situation. It can still be avoided. It's whether it is now in the best interests of the current board to steer the club away from it.

Personally, I think administration will happen. But I think they will be able to drag out this long enough to ensure we have enough points to not drop a division.

 

[Starry]

Duberry's best moment in a Leeds shirt as far as I'm concerned was the look on his face when Leo Fortune-West came on as a late sub in the infamous FA Cup tie. Duberry visibly shit himself, bottled out at the next corner, left Leo unmarked, he knocked the ball goalwards, Scott Young got on the end of it and the Premiership leaders were OUT of the FA Cup!

I was too busy avoiding bottles of piss and missiles to have seen Dubes and what he was doing that day

Sounds just like Doneky Dubes though.

 

[Starry]

Leeds - massive overspend on players, overstretching on all sides to please fans' expectations with no thought of the future, followed by meltdown. (As would have happened to us if DK had started throwing money we haven't got all over the place!) 'After the feast comes the reckoning'

Is that fair? Or am I being unjust?

I think you are probably being fair to a certain extent. But I think it's unfair to blame Leeds fans for our current situation. I have never supported Ridsdale and was in the minority that fly postered his home village week in week out [he tried to give me a lifelong ban from ER - and if you ever meet me I am the least intimidating person in the world], turned up on his doorstep, sat outside his conferences, board meetings etc to try and get him out of the club, we failed because for whatever reason we couldn't guage the support of the majority of Leeds fans until it was too late. We weren't all behind him and didn't all want him gambling on the future of our club for his five minutes of glory.

 

[Starry]

Strong murmurings that a winding up order will happen come a week monday.

Scratch the week monday. Compulsary winding up order to be issued on Wednesday if the PAYE and last months defferred payments aren't made. As it stands there is no money to make these payments.

Could be curtains before the Stoke game next week.

 

[pasty]

Piece on Sky Sports website about possibility of administration

Leeds

 

[Yorkie]

Scratch the week monday. Compulsary winding up order to be issued on Wednesday if the PAYE and last months defferred payments aren't made. As it stands there is no money to make these payments.

Could be curtains before the Stoke game next week.

I feel for you. I love the fact that we beat you on the field but don't want to see any club going through what you're going through.

 

[3gulls]

Scratch the week monday. Compulsary winding up order to be issued on Wednesday if the PAYE and last months defferred payments aren't made. As it stands there is no money to make these payments.

Could be curtains before the Stoke game next week.

Better get on and sell that young lad to Chelsea!

 

[Beach Hut]

This is serious trouble for the club but sadly reflects certain people getting carried away on the crest of a Premiershite Wave.

Why is Risdale not formally charged with some form of a financial misdemeanour ?

Or was everything legal ?

 

[Northstander]

Scratch the week monday. Compulsary winding up order to be issued on Wednesday if the PAYE and last months defferred payments aren't made. As it stands there is no money to make these payments.

Could be curtains before the Stoke game next week.

As much as I dislike Leeds United, this really is seriously BAD NEWS for football!!

I really do hope Leeds manage to get this sorted.

It's getting to the stage now where you really have to feel for the (passionate) Leeds Fans!! Even now in the Championship they are still getting 25-30,000!!

I keep my fingers crossed for them!!

 

[Starry]

Why is Risdale not formally charged with some form of a financial misdemeanour ?

Or was everything legal ?

There has been a DTI investigation going on, it was only very recently concluded (Same time Ridsdale quit Barnsley the report was finished - coincidence maybe). I am not sure of the ins and outs and what happens but as yet the findings haven't been made public.

 

[beorhthelm]

Maybe, just maybe, if Leeds does go into administration, it might force the FA to do something. 1 year from Premiership to Administration will wake alot of people up. And alot of other clubs will look over and wonder if they could be next.

So it *could* be good for football.

Leeds FC will survive administration anyway as they are a going concern, ie 25k+ people paying £20+ a week. Just maybe not in the Championship next year.

 

[Starry]

Leeds FC will survive administration anyway as they are a going concern, ie 25k+ people paying £20+ a week. Just maybe not in the Championship next year.

We won't have anywhere to take 25k+ plus fans to watch Leeds. The lease on ER is a deal with the current board not the football club, go into admin and we lose the lease. though it cannot be used for anything other that sport, but the rent is much higher than it should be.

20K of those are season ticket holders whose money is already paid to the club and spent a long time ago.

 

[Row Z Creased Shirt]

Whilst this is no comfort to leeds fans staring at a pretty difficult situation, I personally think adminstration for them would be a good thing for football.

It really is time for a dose of reality to get back into football. The financial profligacy exhibited by leeds when in the premiership is one of the prime reasons why fans get such a raw deal nowadays and that small clubs are placed in ever greater peril.

Someone has to be taught a serious lesson, and I believe if leeds receive their punishment a few people might start to take notice. I still find the fact LUFC are still able to shell out hundreds of thousands for players whilst in this parlous state pretty nauseating, when teams such as us are getting by on a handful of loose change.

I don't blame the leeds fans for this situation, they will suffer far more than the overpaid lazy and ungrateful players that have masqueraded as professional athletes in white shirts over the past couple of years. I blame the authorities for allowing the people running the football club to act in such a reckless fashion. I also blame people like Mark Viduka who spent the relegation season throwing his toys out of the pram whilst picking up a cool 70k a week FFS!!!!!

This larceny has to come to end, and if a 10 point deduction for one the major teams in english football can set us on the road to that then I'm all in favour. Leeds are big enough to come back from this, and I feel if the team knuckle down and work rather than feel sorry for themselves then even a 10 pt deduction won't send them down.

 

[Yorkie]

Bradford fell out of the Premiership and due to Colleymore and Carbone taking thousands of £££ each week ended up in administration.
They now languish in league 1 with Sheff Wed but nobody has taken much notice of them.
I appreciate it didn't happen quite so quickly as it's happening at Leeds and they didn't attain the same level of success as Leeds but it is a recent thing.

Nobody seems bothered. The Premiership is a different world to the other divisions and like the Newcastle chairman, they don't care.