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Fans group plots to buy Leeds Utd



surrey jim

Not in Surrey
Aug 2, 2005
18,163
Bevendean
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
 






surrey jim

Not in Surrey
Aug 2, 2005
18,163
Bevendean
well they could buy it out of admin rather than Master Bates???
 








jolsonhammond

New member
Jul 28, 2005
49
Odense, Denmark
League1Champions said:
No way id have to sell tut whippets :lolol:

You'd do reet. :)

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




surrey jim

Not in Surrey
Aug 2, 2005
18,163
Bevendean
jolsonhammond said:
You'd do reet. :)

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






e77

Well-known member
May 23, 2004
7,270
Worthing
Haven't the administrators agreed to sell it back to a new company started by Bates?
 






Dave the OAP

Well-known member
Jul 5, 2003
46,762
at home
some reports are that bates bought it for a £1
 




ChapManiA

Banned
Oct 25, 2004
607
Burgess Hill, West-Sussex
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.
 






bailey

New member
Sep 24, 2005
1,201
Seafront Brighton
e77 said:
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

Not in Surrey
Aug 2, 2005
18,163
Bevendean
bailey said:
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
 


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