Leeds administration

[Ernest]

Rotherham chairman has just been on the radio and said another club is in serious trouble and may fall into administration this week.

Us

 

[clapham_gull]

Gerald Krasner has been on implying that the club will move away from Elland Road, and will probably go into admin next week.

Alot of speculation, but it makes very interesting listening.

Leeds seems to be still a complicated mess, lots of questions being asked about the ownership of the club.

 

[Kinky Gerbil]

Move too?

 

[clapham_gull]

Move too?

He was waffling on about complicated land deals being in place, but said he had signed a confidentiality agreement and couldn't go into it.

 

[Kinky Gerbil]

So a ground share with york?

 

[clapham_gull]

Its been pretty much confirmed that the points will be taken THIS season if they go in admin before the game at Derby.

 

[Timbo]

Its been pretty much confirmed that the points will be taken THIS season if they go in admin before the game at Derby.

Thats poor.

I would love it if they took ten points off them this season then went and won whilst turning over the ten goal margin on Saturday.

 

[clapham_gull]

What Krasner was saying that HE thinks hey will go into administration this week unless someone else comes in.

Krasner is in the liquidation business (which is why he was brought in originally) and says that the business is small and he's heard the above.

He also said that the land (ground and training ground) etc.. is worth 59 million.

The club don't own that anymore but have a buy back clause.

He has asked the current owners whether they have a plan to buy back the land, develop it - sell it on and move the club.

He says they won't comment on that.

Also much talk about the ownership of Leeds. 50% of the ownership is unclear and I think I heard that this group are the largest creditors.

The question is about what is the relationship between the known 50% owners and the unknown 50%.

Since the largest creditor will have the final say on who the club is sold onto (if it goes into administration), the relationship between the two groups of owners is important.

I'm sure Starry can fill in the blanks and correct my mistakes.

I know its another club, but it's a very interesting evening llistening about Leeds FC.

 

[withdeanwombat]

Move too?

They've applied to share the Withdean Stadium.

 

[Starry]

No.

They go into administration omn the Friday evening, and a newly formed company buys the trade of the business out of administration on the Monday morning.

New company takes over all the employment contracts, of the now defunct old company. The receivers will then try to collect all outstanding debts owed to the old company and use any money raised to pay off the creditors, who will get a % of amount owed.


In most cases the employment bit is great, as it protects the jobs of the employees, but football is of course rather different, but the law doesn't distinquish.

That is exactly what happened when Leeds United PLC went into administration previously, the PLC went into admin, a new 'company' came in and took over the old contracts but not the PLC and so we carried on.

 

[Yorkie]

There was talk of moving the stadium out to nearer the M1/M621 triangle a few years ago before Ridsdale left.
Starry, are Leeds Rhinos still playing at Elland Rd?

 

[Trigger]

There was talk of moving the stadium out to nearer the M1/M621 triangle a few years ago before Ridsdale left.
Starry, are Leeds Rhinos still playing at Elland Rd?

As a rugby league fan (although Bradford Bulls) I can tell you Leeds Rhinos play at the Headingley Carnegie Stadium which backs onto the cricket ground of the same name.

 

[Yorkie]

As a rugby league fan (although Bradford Bulls) I can tell you Leeds Rhinos play at the Headingley Carnegie Stadium which backs onto the cricket ground of the same name.

Ta. There was a rugby league team who ground shared (at one stage) maybe Hunslet. It's been 3 years since I returned to God's own county so my memory is fading.

 

[Starry]

It was Hunslet Hawks that played at Elland Road, that was when the ground was owned by Leesd City Council.

 

[Yorkie]

It was Hunslet Hawks that played at Elland Road, that was when the ground was owned by Leesd City Council.

Thanks.

 

[BensGrandad]

Didnt Rotherham go into administration during the summer and ther points taken off of them this season. So if Leeds do so after Saturday why could they no take them next season. At least it will give us chance.

 

[Yorkie]

Didnt Rotherham go into administration during the summer and ther points taken off of them this season. So if Leeds do so after Saturday why could they no take them next season. At least it will give us chance.

I think the whole point of the thread is that Leeds are going to do it before Sunday thus getting the deduction this season. In words, cheating as they are already down.

 

[BensGrandad]

Perhaps the League should set a date for this season i.e transfer deadline date and all that go into administration after that is taken off next season. The problem is what if the club is top of the league then so they get promoted and then lose 10 points next season. Perhaps the answer is for the league to make a decision when it is known the club has gone into administration and if as Leeds have done gone into liquidation to circumvent the rules then apply the deduction accordingly. I dont know a difficult one this.

 

[Gully]

So, the chairman of Rotherham is suggesting that another team is about to go into administration, I am assuming that he wasn't referring to Leeds or his own club...any ideas who it might be?

 

[Cian]

So, the chairman of Rotherham is suggesting that another team is about to go into administration, I am assuming that he wasn't referring to Leeds or his own club...any ideas who it might be?

Boston? They're buggered financially aren't they?