The arrogance of the guy .
Ken Bates, having emerged victorious in the battle for Leeds United, last night turned on his rivals, labelling them “time-wasters” and “lesser mortals”. It also transpired that David Healy, the leading scorer last season, will not play again for the club because he refused to accept a wage deferral.
The Leeds chairman confirmed that he is still looking for investors and one source speculated that Bates would seek to sell the club towards the end of the year, when he will be free from any penalty clauses. Before that, there is the prospect of the saga ending up in the High Court, but the good news for supporters is that the creditors’ decision to approve Bates’s buy-back bid, confirmed after a recount gave him the required 75 per cent approval, has wiped away much of the Coca-Cola League One club’s £35 million debt.
The biggest loser, Astor Investment Holdings, actually backed Bates, but the Inland Revenue, which had issued a winding-up order, has lost out on £7 million.
Bates went on the offensive after his success, rounding on everyone from Duncan Revie, son of Don, the club’s legendary manager, to Healy, who has been linked with a move to Fulham. He also referred to Gerald Krasner, his predecessor as chairman, as a lesser mortal and dismissed the prospect of a legal challenge to the decision by saying: “You can’t go to court and say we don’t like it because Bates won.”
He added that he would issue a counter-writ for damages if a challenge does arise because “they will be damaging Leeds United”.
Nevertheless, Melvyn Levi, a former director, who was part of the Krasner consortium that sold to Bates in 2005, said: “The [rival] bidders will feel that they require to see whether they have a chance of getting this club back from the High Court. The margin was very small and if it was a general election, we would all be jumping up and down.”
Five other bids were made to KPMG, the administrators, and creditors who feel short-changed by the payout have 28 days to issue a challenge.
Bates would no doubt relish the chance to lock horns again with Levi as their long-running spat has been a bitter subplot to the joust for control of Leeds. Their relations soured to such a point that Bates called Levi “the enemy within” and then printed his home address in the club programme. “I don’t think he is the right man for the job,” Levi countered yesterday. “Mr Bates thinks he has got the club – we will see.”
Bates expects the Football League to rubber-stamp the deal at its board meeting tomorrow and lift the transfer embargo that has blighted the rebuilding plans of Dennis Wise, the manager. Meetings with potential investors are also lined up. “We’ve said for two years that we’re quite happy to have a partner, but we’ve met a lot of time-wasters,” Bates said. “Duncan Revie has never made an offer.”
Bates also said that Simon Morris, the property developer, who is worth an estimated £69 million, “knows my number”. Morris had tried to gazump Bates by offering creditors an initial 20 pence in the pound, 20 times Bates’s offer, after Friday’s original meeting. However, it was clear that Bates held all the aces, with the backing of Astor, which was owed £18 million and stood to make far more from backing Morris, and the Professional Footballers’ Association.
Yesterday’s reconvened meeting lasted five minutes and resulted in saw Bates’s share of the vote rising to 75.19 per cent. Richard Fleming, of KPMG, whose bill is now more than £250,000, said: “I am satisfied that, in voting to accept this proposal, the creditors have approved a solution that allows the club to plan ahead for next season, reduced uncertainty for all those with an interest in Leeds United, provided some return to creditors and avoids liquidation.”
Ken Bates, having emerged victorious in the battle for Leeds United, last night turned on his rivals, labelling them “time-wasters” and “lesser mortals”. It also transpired that David Healy, the leading scorer last season, will not play again for the club because he refused to accept a wage deferral.
The Leeds chairman confirmed that he is still looking for investors and one source speculated that Bates would seek to sell the club towards the end of the year, when he will be free from any penalty clauses. Before that, there is the prospect of the saga ending up in the High Court, but the good news for supporters is that the creditors’ decision to approve Bates’s buy-back bid, confirmed after a recount gave him the required 75 per cent approval, has wiped away much of the Coca-Cola League One club’s £35 million debt.
The biggest loser, Astor Investment Holdings, actually backed Bates, but the Inland Revenue, which had issued a winding-up order, has lost out on £7 million.
Bates went on the offensive after his success, rounding on everyone from Duncan Revie, son of Don, the club’s legendary manager, to Healy, who has been linked with a move to Fulham. He also referred to Gerald Krasner, his predecessor as chairman, as a lesser mortal and dismissed the prospect of a legal challenge to the decision by saying: “You can’t go to court and say we don’t like it because Bates won.”
He added that he would issue a counter-writ for damages if a challenge does arise because “they will be damaging Leeds United”.
Nevertheless, Melvyn Levi, a former director, who was part of the Krasner consortium that sold to Bates in 2005, said: “The [rival] bidders will feel that they require to see whether they have a chance of getting this club back from the High Court. The margin was very small and if it was a general election, we would all be jumping up and down.”
Five other bids were made to KPMG, the administrators, and creditors who feel short-changed by the payout have 28 days to issue a challenge.
Bates would no doubt relish the chance to lock horns again with Levi as their long-running spat has been a bitter subplot to the joust for control of Leeds. Their relations soured to such a point that Bates called Levi “the enemy within” and then printed his home address in the club programme. “I don’t think he is the right man for the job,” Levi countered yesterday. “Mr Bates thinks he has got the club – we will see.”
Bates expects the Football League to rubber-stamp the deal at its board meeting tomorrow and lift the transfer embargo that has blighted the rebuilding plans of Dennis Wise, the manager. Meetings with potential investors are also lined up. “We’ve said for two years that we’re quite happy to have a partner, but we’ve met a lot of time-wasters,” Bates said. “Duncan Revie has never made an offer.”
Bates also said that Simon Morris, the property developer, who is worth an estimated £69 million, “knows my number”. Morris had tried to gazump Bates by offering creditors an initial 20 pence in the pound, 20 times Bates’s offer, after Friday’s original meeting. However, it was clear that Bates held all the aces, with the backing of Astor, which was owed £18 million and stood to make far more from backing Morris, and the Professional Footballers’ Association.
Yesterday’s reconvened meeting lasted five minutes and resulted in saw Bates’s share of the vote rising to 75.19 per cent. Richard Fleming, of KPMG, whose bill is now more than £250,000, said: “I am satisfied that, in voting to accept this proposal, the creditors have approved a solution that allows the club to plan ahead for next season, reduced uncertainty for all those with an interest in Leeds United, provided some return to creditors and avoids liquidation.”
