Leeds Banter Archive November 16 2012

16 Nov 2012 21:25:13
Is this takeover actually for real?.... Lets hope it is! But don't hold out much hope as they've exteneded the exclusivity period....AGAIN! Been saying an announcement was happening soon since July time! Hope the rumours of GFH being skint are totally false. MARCHING ON TOGETHER!

The exclusivity period thing is meaningless in any case since we have a 2m debt to GFH secured by a charge (a mortgage in effect) on the company. The terms of that charge state that the club can't be sold to any other party without the consent of GFH so unless the club repays the 2m then GFH can take as long as they like until the club comes up with 2m to repay them and get the charge removed.

In practice that means either Bates finding 2m himself (not happening), another interested party lending the club the money before negotiations kick in (possible if someone really wants us enough) or using the proceeds of the January transfer window to repay them (that's Byram then).

The exclusivity period thing is meaningless in any case since we have a 2m debt to GFH secured by a charge (a mortgage in effect) on the company. The terms of that charge state that the club can't be sold to any other party without the consent of GFH so unless the club repays the 2m then GFH can take as long as they like until the club comes up with 2m to repay them and get the charge removed.

In practice that means either Bates finding 2m himself (not happening), another interested party lending the club the money before negotiations kick in (possible if someone really wants us enough) or using the proceeds of the January transfer window to repay them (that's Byram then).

In reply to this post -the reported £2m has been paid to Bates (as a down payment or Gesture of good will) it has not gone to the club so the club would not have to pay it back Mr Bates will.

Don't want to sound patronising but I run two companies. I know where to look and I honestly do understand this stuff on a legal/technical level because it's my job to understand.

The money was loaned to Leeds City Holdings Limited, the company which runs the football club. The loan was made on the 5th October 2012 and registered 6 days later on the 11th. My evidence that this is so is the legal charge registered at Companies House. I'll happily send Ed a screenshot of the listing if you like. I know this is a rumour/banter site but it helps if people would stop just making stuff up and trying to sound like they know what they're talking about.

For the record, the loan is secured on ALL the ordinary shares of the company, not just 2m worth. This is far from being a goodwill gesture. It's a clever piece of business which ties Bates's hands very tightly.

Just so you know this really isn't BS, there is one other mortgage in the name of Compass Contract Services (UK) Ltd which is a fixed and floating charge secured on all of the club's assets 'present and future'.

16 Nov 2012 20:33:22
I'm afraid GFH will only have themselves to blame if their protracted bid to T/O effects what happens to the teams eventual league position.

The only buyer I have ever come across who is watching the asset they covet reduce in value before their eyes by not acting fast enough.

The only trouble is under normal circumstances that mistake would only effect the buyer, in their case their mistake effects every Leeds united fan.

Maybe they're watching the value drop in order to pick it up for a bargain? i'd wager relegation would be just perfect for GFH. they could pay a desperate Bates half his original valuation to take it off his hands.

16 Nov 2012 15:01:03
Ken Bates talks about leaving the Club in safe and secure hands, So his legacy will go on and on, Well am sorry KB you are doing your best to make sure you leave us in the total s**t pits of this league. Your holding out till the emergency loan window shuts knowing dammed well we need players NOW, But as long as you walk away with a nice very healthy Bank Account you really couldn't give a flying **** about our much loved LEEDS UTD. And as for GHF'C You really have a lot to do and prove to us fans back on side and back into the Stadium with the way we have all being mis-treated.......MOT
MJB66

If we dont get a few players in before the loan window closes we might aswell write this season off... i cant see us getting any points from our next 4 games and by the time january comes it will be a relagation battle

Couldn't agree more

2nd poster,still doom and gloom, get a grip for f***s sake, don't need persons like you spouting rubbish, its november for f***s sake

Id go further we will be in the bottom three by January if no players in the next week. We need at least two quality players. NW said as much on Taksport saying lost spine of his team and needs some bodies urgently

Leeds are renowned for losing games we should win and vice versa,Ive learned never to write them off,we will pick up points in the next 4 games that most think well lose,we usually rise to adversity,could suprise a few people I think,or should that be hope.

Why not look at the players we actually have and try and get the best out of them rather than throw more money at loan players (lets face it, this has happened for years and never worked). We have enough talented players it just seems that when they walk out onto the pitch they suddenly forget how top play football. I think we need the manager to sort out his own signings and not look to bring more in.

16 Nov 2012 13:58:02
Great news on McCormack, but the defence is looking worrying.

Not only is Pearce out with suspension, recent interviews on the OS lead me to believe we might not have Peltier or Druary either.

If that's the case expect the back four to be Byram, Lees, Kisnorbo, White/Pugh... All players that were at the club pre-Warnock! Would be a interesting if they played well together!

LUFC-Bob

Do you know something? That could be better than we have had all season. I'm going for a 2-0 win Marching on together

I would love to see Paddy Kisnorbo pull it out of the bag and be the experienced CD we've been desperate for, but he'll have to play a damn sight better than his last first team outings. Love your faith mate. MOT

LUFC-Bob

16 Nov 2012 13:23:00
even warnock starting to think the takeover never gonna happen he sounds so down at the moment and that really cant help the players much.

16 Nov 2012 13:04:43
McCormack set to return to the squad for the weekends trip to Millwall, on the official site. Not going to be match fit but at least he could add a much needed new dimension to the attack in the last 20 mins or so.

The type of direction we need is to play facing the right way! Oh, and try and keep it on the ground and do that thing they call passing.

16 Nov 2012 11:02:43
Trying not to be a 'boo boy' but I have one major concern with the take over. (we know it's a takeover as it was referred to as an 'acquisition' on the last official statement).

But that's getting off track, we all can agree that we need players NOW, as by January without them we could so far down the table no amount of signings will help.

My major concern is that the loan market closes in 6 days and GFH still haven't taken over (that we know of), I feel it may turn into another situation like Warnock getting the job just after the transfer window closed. What's the point in GFH taking over this season if they can't invest in the squad till too late?

I hope GFH prove me wrong, get in some crucial loans in by the 22nd and get us in a postion where January transfers will be of use.

LUFC-Bob

16 Nov 2012 09:06:27
GFH have been granted an extension on the exclusivity period oh god another 6 months i suppose jokes!
irish leeds fan!

15 Nov 2012 22:56:50
Reading about people boycotting games cause of bates.wish u would all get a grip of your selves. Call me an armchair supporter who blames ticket prices for not attending games, the last time I went to c a game at er was v boro on new years day 2011. I miss it so much as before that id not mised a single home game for 14 years. I now have a young family and am on a low wage and if I could go, I would. It really isnt about bates any more. If you all go to the gamea and get er rocking with ova 30000 then we more likely to get what we all want,

I take your point about a full ER. But for me its always been about Bates and the thousands that are missing from ER obviously have their own reason. When the Chairman of my club, who I have supported for over 40 years and followed all over the country through thick and thin, starts slagging me( not personally) in the match programme, robs our club of its best players and does not reinvest, and then expects our one of our previous managers to gain promotion on loan signings; then it is beyond comprehension why i would spend another penny at ER.
Of course i miss going but sometimes a principle warrants an action. I'll be back when Bates is gone, you watch our attendances when it happens.
MOT

Spot on! i hate this whole Bates is the reason people arent going, the club is and will always be bigger than Bates, so support it!!

If bates was gonna invest in the squad then everyone would go to each game but hes not so it is all about bates why most fans dont go anymore .

So what's your point here fella? In one breath you say don't blame ticket prices and in the next you say you have a young family and can't afford to go. Isn't the reason you can't go because the ticket prices are so high? I'm sure people with more knowledge on here will confirm but I think we're right up there with our ticket prices, more than most Premier teams also, so yes it is Bates' fault. If he set the ticket prices lower and encouraged families as some clubs do with free kids' tickets etc, then ER would be full and rocking as you so desire.

I dont go to the games because of bates, i will not go to see leeds again whilst he is in majority. is that clear? do you understand? can you comprehend this? it is not about money as I am loaded, it is about bates and I drink lots of beer with many other leeds fans who are doing exactly the same. deal with it.

Can I just point out a little contradiction in that first reply you say you don't go on principle yet you say that you support this club through thick and thin. there is no excuse for not going apart from financial reasons if you support Leeds through thick and thin then go support them

Original poster replying to later post. This post was meant to go lower down as a reply to people boycotting and blaming ticket prices but then saying that they can afford it. My point is that if you can afford it you should go and support but if u cant, dont come on here and get other people to boycott. I dont believe that not giving bates money will help as he will just sell somebody to make up the loss

I am the second poster who has supported Leeds over 40 years through thick and thin.
Ive enjoyed the highs of the last years of The Dons team, the lows of relegation in the 80's, the League winning team of Sgt Wilko and Europe with OLearly, and then our downfall to League 1.
But enough is enough, think I have spent enough over the years and seen enough to have an opinion, I have earned the right to boycott ER on principle.
As for other post re attendances and prices...proof is Boro v Sheff Wed which was on Sky TV, prices reduced to £12 i think it was, result over 28k at the riverside...biggest attendance in years....can you see Bates doing that?
No F*****G chance.

I don't believe the boycotters are actual leeds fans. They are rival fans trying to stir up ill feeling amongst leeds fans. I bet the crowds don't go up a great deal when bates does go.
An alternate theory is these people are actually bates lovers. They want bates to get more money and by telling everyone they do not go and estimating additional crowds of 10,000+ they are allowing bates to con gfh into paying more. Pawns of bates or just stupid. You decide.

People can do what they like; attend, stay away, watch in the pub but at least be honest as to why they are staying away. I suspect the real reason is the dross that passes for football at present and that is down to the players and the manager, not the chairman. Regardless of how much or little Bates has given Warnock to spend can't account for the players performances on the pitch or the managers motivation of his team. And as for charging low entrance fees, kids in free and paying decent wages and transfer fees- Bradford Bulls went down that route and are now owned by a Curry House! Wise Up!

18 Nov 2012 01:17:17
My point is regarding reduced admission, is that a full house will make a right din as well as generating more money. No one is advocating free entry for anyone, but fact is we are at the moment, worse than average in the championship, and paying Premiership prices. Supply and Demand. The demand for what is being served up is not there. If Bates is the Business man he thinks he is, he should have increased the demand for his product by supplying 1- Ticket Prices that will sell, and 2- A Better Team.
But anyway, too late, hes on his way and good riddance.