Leeds make £1.6m loss

[DIFFBROOK]

How have they managed that? 20,000 punters, paying premier league prices, with a L1 squad. Thats on the back of being top of the league and play off places. They will be back in admin if they have a poor season.

Bates must be siphoning off some money somewhere, even if he claims that he gets no remuneration.

Leeds United: Whites reveal financial results - Yorkshire Evening Post

 

[Bhafcman]

Bye bye snodgrass, kisnorbo and kilkenny if they don't get promoted

 

[bhaexpress]

There's a surprise, Administration anyone ?

 

[murraymints4brighton]

I tell you what, if they go under again can we just chuck them into the conference and have done with them, there are 23 other clubs in the division who could potentially finish in their position and if they continually mismanage their finances then they do not deserve it.

 

[TrickyOne]

Good, I hate them! Big club, my feckin' arse.

 

[Bozza]

Small beer. As the report says since the period covered by those results they've had lucrative cup fixtures and Delph went to Villa for something approaching £8m all in.

If they don't go up and better players leave it will be more because those players have got fed up of playing at this lowly level.

 

[Starry]

second thoughts.

 

[Easy 10]

This is the bit that LEAPT out at me:

"Leeds' current accounts reveal a total wage bill for playing, management and administrative staff of just under £12.3million"

More than a MILLION pounds a month on wages...in the 3rd Division !
Just imagine what they'll start paying if (big IF) they go up a division. The cycle has begun once again.

Tell you what, if I was a local business doing work for that club, I'd be doing it on a ZERO credit basis or not at all.

 

[Hatterlovesbrighton]

It probably includes all sorts of payments into reserves and other pots that they knew would be covered by the sale of players

 

[Easy 10]

This is the club that posted a profit of £4m+ in 2008, a year after coming out of administration, having just royally SHAT all over their creditors.

Revolting club.

 

[DIFFBROOK]

Small beer. As the report says since the period covered by those results they've had lucrative cup fixtures and Delph went to Villa for something approaching £8m all in.

If they don't go up and better players leave it will be more because those players have got fed up of playing at this lowly level.

Figures relating to players being sold i.e Delph mask the problem. How many more Delphs do they have........none. Beckford will be gone for nowt.

The way they are cutting their cloth should be really worrying for Leeds fans. If they do not go up this year, and have a mediocre start to next then they may be in trouble again.

 

[Mendoza]

If they do not go up this year, and have a mediocre start to next then they may be in trouble again.

but will then spend a load of money in January on players, putting themselves in more debt, but giving them more chance of going up.

 

[bhafc99]

It would be a lot worse if that wonderful wonderful man, Ken Bates, didn't work so selflessly for the club. Did you know that he hasn't received even a single penny of income from Leeds, or indeed any of his 418 offshore directorships, for at least 10 years? Scientific research has proved that he manages to subsist entirely on goodwill and fresh air.

 

[Pavilionaire]

It's interesting. If they'd managed to keep Delph they'd be nailed on for promotion now. If they miss out this season, then lose Beckford the same thing could happen all over again.

For next season Southampton look strong, you'd expect Palace/Sheff Wed to be there or thereabouts, possibly us if Gus can sort our Withdean form out.

The implication is that even if they DO go up they won't have the financial muscle to buy big and push for promotion next season.

 

[Easy 10]

The implication is that even if they DO go up they won't have the financial muscle to buy big and push for promotion next season.

Since when has financial muscle been an issue with Leeds ? The words "can't afford it" doesn't really enter the vernacular at Elland Road. They'll beg/borrow/steal from somewhere and worry about paying for it a few years down the line, when they know it'll probably all get written off anyway.

 

[Barrel of Fun]

Who owns Elland Road and how much money is escaping from the club in rent and payments?

 

[Easy 10]

The article says they are paying £2m a year to rent Elland Road and the training ground.
Dunno who owns it.

 

[Herr Tubthumper]

The article says they are paying £2m a year to rent Elland Road and the training ground.
Dunno who owns it.

Probably Ken Bates via some smoke and mirrors off-shore company.

 

[Herr Tubthumper]

It would be a lot worse if that wonderful wonderful man, Ken Bates, didn't work so selflessly for the club. Did you know that he hasn't received even a single penny of income from Leeds, or indeed any of his 418 offshore directorships, for at least 10 years? Scientific research has proved that he manages to subsist entirely on goodwill and fresh air.

..and it didnt he claim to own some shares in the club's holiding company..then claim he made a mistake and didnt own them? Easy mistake to make I guess.

 

[severnside gull]

Probably Ken Bates via some smoke and mirrors off-shore company.

Bates denies any involvement with the offshore company who own the ground (and much of the club's debt) but I seem to remember that it is based in the Cayman Islands (where some of his companies and others owned by his known business associates are also based) and that the directors have never been identified.

Have to say it would be great to see them fail again and the likes of Becchio Snodgrass and Kisnorbo go as well as Beckford but in the end I think they will just sneak it this time and good riddance