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07 Mar 2013 21:27:55
£1 Million back from West Yorkshire police? That could buy Burke the winger we need or is it for Ken Bates?
Paulmot
Pappa
08 Mar 2013 06:55:40
Surely gfh would get the money they bought the club and the debt so surely they receive the refunds as well
Gfh and bates are the same company. Anyway why do you think he's still there!
07 Mar 2013 18:21:48
re byram rumours simple if we pull our fingers out and win promotion via playoffs he will be going nowhere if we do not go up it will test the resolve of GFH with their intentions as he is under contract they want a return on their investment you do not sell your crown jewels
Spot on!!
You don't but unfortunately Leeds, under the management of Bates, do. And whether you like it or not he is still the man.
07 Mar 2013 17:58:52
Every fortnight I receive a copy of Private Eye magazine and in every issue there is an article called Planet Football usually concerning football club finances. The latest issue concerns Leeds United. If anyone has posted the content of this article before forgive me, I haven't seen it but I thought it would be worth posting or repeating.
"Does the wily Ken Bates suspect that his new best friends from Bahrain, Gulf Finance House, and their British frontman David Haigh may not be at Elland Road for the long haul back to the Premier League.
On 21st December GFH announced that it had acquired Leeds United, buying out Bates and the minority shareholders. The suggested price was £44m, but others suggested that the real figure is nearer £14m, with any more depending on Leeds being promoted and remaining in the Premier League. Promotion this season looks unlikely and already there is speculation that GFH is looking for a buyer.
But what is this? The Leeds United accounts for June 2012, filed since the the GFH deal was announced, reveal that on 21st December 2011 the club issued 32 preference shares to Lutonville Holdings, an offshore company linked to Bates. The shares were issued for £3, 092, 894. The preference shares were "redeemable upon a change in control in Leeds City Holdings" - the parent company Bates sold to GFH. Any new owner of Leeds would have to buy out Lutonville.
So the day before the sale to GFH went through, the preference shares were duly redeemed for £4m, paid from a facility which either came from or was guarenteed by GFH as part of the takeover. Bates netted £1m tax - free profit in just twelve months, to go with whatever was also received in the Caribbean tax haven of Nevis for his 73 percent of the equity. Goal. JD
Fair enough, interesting stuff. KB is a filthy operator. I appreciate that I may be spelt out in the article, but just to be clear-we're those preference shares issued then fully paid off upon GFH's completion of purchase ( and therefore KB is no longer in the loop via the shares) or do the shares remain, waiting to be fully redeemed upon any potential re-sale of the club? If it is the latter then KB, or at least his share position could adversely affect the chance of re-sale. At least to a credible buyer?
The way I read it is that the shares are fully paid off and Bates is no longer in the loop. "Any new owner of Leeds would have to buy out Lutonville" JD
Ok, cheers for the clarification.
07 Mar 2013 12:03:06
Just wanting to put my thoughts across regarding team selection really. I assume we are playing a sort of 4-3-3 formation which is then reverting to a 4-5-1 formation when we don't have the ball. The problem I think we have here is that it leaves us with Varney out wide, and McCormack out wide when we win the ball, and Morrison ploughing a lone furrow up front? In that case we have to have people supporting when on the attack. Green can do this to an extent, but not naturally, as is the case with Norris, but they're not renowned 'attacking midfielders'. So who is there to support Morrison? We really need to have someone in behind him who is more natural in that area. Not only to finish off cleared balls in and the such, but also to create. When we're attacking at the moment we are far to central, and everything seems to break down too easily, thus we can keep possession for a while, but don't create fantastic chances. But who is there to play in that role. Diouf maybe, or Habibou? I don't know.
What I do think though is that Barkley could have made that position his own for the rest of the season had Warnock decided to keep him, and he wouldn't have been as 'leggy' as what we have now. Would have made us a much more potent threat.
Only my thoughts, nothing more.
MOT! WMS!
Spot on. I for one cannot believe we didn't keep Barkley. He is the missing link we needed and we didn't see enough of him a few matches he played in a poor playing team at the time. He is class and could of provided that extra creativity instead of norris. Barkley and Jerome Thomas should of been priorities not Habibou and Hall! Poor management and decision making on players, not sure whos responsible but it will be the reason we don't quite make the play offs! p. s would love to be proved wrong ;)