Leeds Gate Receipts - who gets the cash?

[Couldn't Be Hyypia]

I recall reading somewhere (was it NSC) that in order to get their house in order, Leeds United have essentially promised their gate receipts for this season and next to their creditors (or their bank to cover loans). Do any of the football finance experts on here know if this is correct. If not - is there any charge on their gate receipts at all? If this is anything like the truth surely they have just delayed the inevitable sh1t-storm by robbing Peter to pay Paul?

 

[seagullsovergrimsby]

With a new consortium taking over the reins at Elland Road the situation might be different now.

 

[Couldn't Be Hyypia]

Ah yes. Probable that the deal involved addressing those guarantees?

 

[Hatterlovesbrighton]

I thought Leeds were making a good profit these days? Uncle Ken sold them for a mahoosive profit didn't he?

 

[seagullsovergrimsby]

I thought Leeds were making a good profit these days? Uncle Ken sold them for a mahoosive profit didn't he?

All the profit goes to Uncle Ken

 

[upthealbion1970]

I thought Leeds were making a good profit these days? Uncle Ken sold them for a mahoosive profit didn't he?

Thought they lost more than us last season