Leeds facing administration before the end of the season

[SloppyJoe]

See here:

Leed administration (http://news.bbc.co.uk/sport1/hi/football/teams/l/leeds_united/3239428.stm)

[gothmog]

Div 3 or Leeds City FC for us :|

-- Jon

[Huy]

But we knew this already.

[SloppyJoe]

Originally posted by Huy
But we knew this already.

Sorry didn't realise you were affiliated with the bank/ finance companies Leeds were talking to. I bow to your inside knowledge.

[whodoyoudo]

Originally posted by Huy
But we knew this already.

All we knew was speculation etc etc, this is taken from a club statement released this morning. As far as I'm aware it's the first time we've heard Leeds admit they may have to go into administration, until now, it's been everyone else saying it with no official relase from LUFC plc.

[Mr Silly]

I think they will opt to go into admin before the season is over. If they go into admin after relegation, they face a points deduction of up to 10 points. I don't think this applies if they are in the premiership.

[Arch Stanton]

The rumour is if Leeds are still bottom at Christmas(The date which usualy means your doomed) then they'll go into administration.

[nc]

Well I started a thread a few weeks ago about this a few weeks ago, but for some reason it was closed. Unless some mega rich person saves them, I cannot see how they can survive, even if they stayed up. And even the Leeds fans I know are saying this to me.

[unrealnils]

Think Smith will be off loaded at Jan or is does the cash they get from him make no difrence if they go into admissinistration ?

[trix30]

Does the Premier League not have rules that actually prevents a club playing if they in in administration?

I thought they changed them recently to an even harsher version of those adopted by the League.

[gothmog]

Not in the slightest, they owe £80m, if say Smith and Robinson were sold, they'd fetch maybe £10m, and leave Leeds with a team of loan players and still £70m in debt.

Leeds revenues streams are shattered, hardly ever on TV, not in Europe the entire (totally flawed) justification for the massive borrowing has gone to the wall.

We lost £50m last year, there is no way on Earth that the club continue to function unless some random arab/russian drops £100m into the club and with the team playing as it is at the moment you would have to be :nuts:.

I just want it to end now tbh as it's painful to watch. The Leeds Utd spirit will never die, it might just have different branding when it returns :oh-hum:

-- Jon

[whodoyoudo]

Originally posted by gothmog
Not in the slightest, they owe £80m, if say Smith and Robinson were sold, they'd fetch maybe £10m, and leave Leeds with a team of loan players and still £70m in debt.

Leeds revenues streams are shattered, hardly ever on TV, not in Europe the entire (totally flawed) justification for the massive borrowing has gone to the wall.

We lost £50m last year, there is no way on Earth that the club continue to function unless some random arab/russian drops £100m into the club and with the team playing as it is at the moment you would have to be :nuts:.

I just want it to end now tbh as it's painful to watch. The Leeds Utd spirit will never die, it might just have different branding when it returns :oh-hum:

-- Jon

Leeds would not net £10m from the sales of those players, it wouldn't surprise me if they had been put on that silly HP scheme.

[whodoyoudo]

Originally posted by Mr Silly
I think they will opt to go into admin before the season is over. If they go into admin after relegation, they face a points deduction of up to 10 points. I don't think this applies if they are in the premiership.

The nationwide league ruling on it is: Any team that starts the season in administration will be deducted 10 points. If Leeds go down this season, it doesn't matter when they are placed into admin as they will start the new season with -10 points. Unless they manage to get out of admin by the start of the next season whiohc I find highly unlikely.
I don't think the prem. league are deducting points for this situation at the moment but I'm not sure on their stance.

[gothmog]

Originally posted by whodoyoudo
Leeds would not net £10m from the sales of those players, it wouldn't surprise me if they had been put on that silly HP scheme.

That's why I didn't count Viduka as an asset :D

Smith came from Leeds youth system so any money made would be 'profit', just like Kewell so nothing can possibly go wrong, oh no wait :suspect:

Not too sure about Robinson, but I don't remember us paying for him, so I think he's academy too :)

-- Jon

[whodoyoudo]

Originally posted by gothmog
That's why I didn't count Viduka as an asset :D

Smith came from Leeds youth system so any money made would be 'profit', just like Kewell so nothing can possibly go wrong, oh no wait :suspect:

Not too sure about Robinson, but I don't remember us paying for him, so I think he's academy too :)

-- Jon

But Leeds never kept all the money from the Kewell sale and this HP scheme was taken out on players who were already at the club so Leeds could get some money in the bank.

[Arch Stanton]

Yup, both Smith and Robinson were 'morgaged' by Risdale and his friends. So we proberly wouldn't get a penny.

[gothmog]

:brickwall :brickwall :brickwall

Didn't realise that, insanity, pure and simple.

Amazing that the banks even went for such an idotic scheme, well I can imagine the only alternative was to let Leeds go to the wall back then (and thus essentially lose all their money).

:oh-hum: :oh-hum: :oh-hum:

-- Jon

[sweevo]

Hmmm, happy times at E.R! :eek:

I was talking about this last night and my take on a potential sugar daddy would be that, why would he pour Millions in to pay off a huge and unmanageable debt when he'd probably be able to snap it up for two bob and a fraction of the original debt in a few months time?

Relegation looks like a certainty after saturdays performance I know that much. Even if we end up in Div2 because of 10 points being docked next season, LONG TERM I'm sure the club will make it back to the premiership. I just hope I live to see it!!!! :nuts:

My missus is pregnant and my dad was teasing me last night that i'd be able to tell my kid about the days when Leeds were in the Premier League when he/she grows up! :lol:

[RobDickinson]

Mebee if they keep sacking managers they'll find one that can do miracles?

I would say I'm sorry to hear this news but its neither a supprise nor undeserved. A lesson to any other club , apart froma few spanish ones...

[RobDickinson]

Originally posted by sweevo
My missus is pregnant and my dad was teasing me last night that i'd be able to tell my kid about the days when Leeds were in the Premier League when he/she grows up! :lol:


"Did Leeds have a footy club then Daddy?" :)

[Welshlad]

I'll be honest and admit I dont have a clue how it all works really, but there is suggestion on the Leeds List that todays' announcement was to provoke the reaction it has (i.e. share price collapse) ahead of a takeover and that by releasing such a statement it kinda forces the hand of the creditors with the notion of "take what were offering or you'll get nothing back in a few months".

Also, regarding administration - again I'm not sure how it works, but other than losing ownership of their stadium Leicester seemed to do quite well out of it didn't they? Still seems decidedly dodgy to me though! As for the impending FA rules regarding the 10pt deduction - it has never been enforced, and in all probability it could never be upheld if legally challenged, or so some legal guru's seem to think on the radio! :confused:

[Radiohead]

Originally posted by gothmog
:brickwall :brickwall :brickwall

Didn't realise that, insanity, pure and simple.

Amazing that the banks even went for such an idotic scheme, well I can imagine the only alternative was to let Leeds go to the wall back then (and thus essentially lose all their money).

:oh-hum: :oh-hum: :oh-hum:

-- Jon

The details of the scheme:

Two seasons ago, they cheered their team all the way to the semi-finals of the European Champions' League, the world's most prestigious football club tournament. But yesterday, supporters of Leeds United discovered what a terrible price their short-lived success had exacted from the club's finances.

As if publication of the worst set of financial results in the history of a British football club were not enough, Leeds United dropped an even bigger bombshell: half a dozen of their best players - including England internationals Paul Robinson and Alan Smith - are mortgaged to a previously little-known finance company.

The revelation has exposed the willingness of clubs such as Leeds to run up huge debts (in the case of Leeds, £80m), in their desperation to secure - and keep - the services of top footballers. Now the club, which yesterday announced losses of £49.5m for the past financial year, finds itself in the same position as a homeowner mortgaged to the hilt who falls into negative equity when the value of his property collapses. For Leeds, the problem is trying to keep up the "mortgage payments" when its fortunes on the field have deteriorated and gate receipts have suffered a corresponding fall.

It has also demonstrated the increasing power of Ray Ranson, a retired professional footballer, who has come to wield enormous influence off the field through his financing firm, the catchily-titled Registered European Football Finance (REFF).

When Leeds bought Mark Viduka from Celtic for £6m three years ago, for example, not a penny was put up by the club. The whole amount came from Registered European Football Finance. In return, Leeds pays back an agreed sum every month.

These deals are a recipe for disaster. Since the club does not have to put the cash up immediately, it is tempted to live beyond its means. If the player performs well and his potential transfer value goes up, REFF may be persuaded to increase the loan. The extra cash raised can then be spent on other players, putting the club even further into debt.

It is not even necessary to buy a player to raise cash against his value. Budding stars who have been brought up through a club's youth scheme can be "mortgaged", with REFF putting up a loan that can then be used to assist further the transfer-market spending spree.

But if the player turns out to be a dud, the club is left with negative equity and possibly falling gate receipts. As City analyst Vinay Bedi at investment firm Wise Speke said: "This is the equivalent of buying an expensive home and then losing your job."

Should Leeds need proof of the perils of these financial arrangements, they need only look down the road to Bradford City which went into administration last year. Among its debts was £7m to the German insurance company Gerling, which had underwritten loans from Mr Ranson's outfit.

It gets worse. Of the Leeds debt of nearly £80m, insurance companies are owed £60m. This has been borrowed by securitising gate receipts - in layman's terms, the insurance companies have first call on the money the fans pay at the turnstiles. This is a common practice among top sports teams in the US but a comparatively recent development here.

If Leeds United is unsuccessful - its current Premiership position is next to the bottom having only won three matches out of 20 so far (against Chesterfield, Middlesborough and Blackburn Rovers) - then fewer fans turn up at the matches. In that event Leeds, not the insurers, has to stand all the shortfall.

The Leeds story - of a club which spent beyond its means to buy success and then found it could not afford the repayments - is only the most extreme example of an increasingly common trend in football. Indeed the extent of the mortgage world of soccer can only be guessed at, although it is estimated that about 20 English clubs have used this facility. Two years ago, Deloitte & Touche, the accountancy firm, calculated that £120m was owing. The figure is probably several times that by now.

Leeds United, according to its balance sheet, owed about £21m on sale and leaseback at its financial year end of 30 June. Half a dozen players are subject to this arrangement although the club is not prepared to say who they are.

However, soccer circles believe that Robbie Keane and Danny Mills were subject to sale and leaseback arrangements. Keane was bought for £12m and sold for £7m, presumably leaving Leeds to continue paying for outstanding debt after he had been sold.

More worryingly, it is believed that money has been raised against the value of young players Alan Smith and Paul Robinson. This will unfortunately come as a blow to any Leeds fans.

In fact, selling star players has done nothing to reduce debts, which actually edged slightly higher in the past financial year despite the sale of star players. The proceeds were used to fund losses of £49.5m, a record for a British club, and interest charges of £7m. Leeds United is running just to keep up with itself.

The accounts also show a loss on player trading of £17m, which gives a pretty stark indication of how the leasing company swallows up cash when mortgaged players are sold.

Meanwhile the wages bill has reached 88 per cent of revenue despite the saving on salaries of the dear departed. Mr Bedi said: "This will be thrown up at business schools for years to come as how not to run a business."


http://news.independent.co.uk/business/news/story.jsp?story=458277

Madness indeed.....

[whodoyoudo]

Originally posted by Welshlad
I'll be honest and admit I dont have a clue how it all works really, but there is suggestion on the Leeds List that todays' announcement was to provoke the reaction it has (i.e. share price collapse) ahead of a takeover and that by releasing such a statement it kinda forces the hand of the creditors with the notion of "take what were offering or you'll get nothing back in a few months".

Also, regarding administration - again I'm not sure how it works, but other than losing ownership of their stadium Leicester seemed to do quite well out of it didn't they? Still seems decidedly dodgy to me though! As for the impending FA rules regarding the 10pt deduction - it has never been enforced, and in all probability it could never be upheld if legally challenged, or so some legal guru's seem to think on the radio! :confused:

The trouble is, Leeds have virtually NO assets. The banks just about own the few most valuable players and LUFC plc don't own Elland Road or the land it's built on.

[Welshlad]

.

[Adam Thirnis]

I think if Leeds go into administration they should be relegated. This will just be a ploy to avoid debt so that they don't have to sell their expensive players.

It's not fair on smaller clubs who have hold of the purse strings and fight hard to remain in the Premiership.

[agnetha]

*exclusive* ;)

(almost direct) quote from Alan Smith... "it's not looking good"

[hedgie]

Having seen the effect of adminstration on my club, Palace, I'd be surprised if Leeds disappeared completely, unless the rules have been changed significantly.

When Palace went into administration several years back, effectively the old club (CPFC 1986 Ltd) was wound up, with the key assets sold to the new club (CPFC 2000 Ltd). These assets were the players and the FA and Football League 'share' - which lets you keep your place in the league. The value of these assets was then used to pay remaining creditors.

The FA and FL will only allow this 'share' to be transferred in certain circumstances. In our case we had to pay off all our 'football debts' to other English clubs, such as Manchester City for Lee Bradbury. As a result of our case the FA closed a loophole that let us get away without fully paying off Juventus and Strasbourg for Lombardo, Padovano and Ismael by making this relate to all football debts.

All other creditors could be paid off under the usual procedures for liquidation - a proportion of the assets - so long as the Creditors agree to accept the settlement (known as a Creditors Voluntary Agreement i think). We paid off something like 5p in the pound - unsuprisingly it took lot of work to convince Juventus and Strasbourg to accept this!

I would be interested to know if the deal that Leeds have with REFF is classed as a football debt or not. If not, Leeds could conceivably get away with this. However, if it is classed as a football debt, Leeds are only likely to survive if there is a massive injection of cash.

Personally, I'd be surprised if the FA allowed a big club like Leeds to disappear - they would probably ensure that the rules worked in their favour now, and then close the loophole for any future cases.

[Arch Stanton]

Originally posted by whodoyoudo
The trouble is, Leeds have virtually NO assets. The banks just about own the few most valuable players and LUFC plc don't own Elland Road or the land it's built on.

Contray to popular opinion Leeds do own Elland Road but under the name of another company. Leeds holdings or some such.

[whodoyoudo]

Originally posted by Arch Stanton
Contray to popular opinion Leeds do own Elland Road but under the name of another company. Leeds holdings or some such.

Yep, you're right, I just double checked, they sold it in 1985 for £2.5mill but Leeds Sporting plc (formerly the caspian group) bought it back in 1998 for £10mill.

Apologies for being wrong, but I'm wrong all the time at the mo:thumbs: ;)

[david2002]

In before the close.......


















To buy Alan Smith...Man U or Liverpool:p :p

[whodoyoudo]

Right then, I've just found out some more info on Elland Road.

Although Leeds Sporting plc bought Elland Road, since then who can guess what Me Ridsdale did???


No,

He got it mortgaged , secured against future revenue etc etc, Leeds go bust they lose the ground. This all revolves around the previous mess that we already know about. So yes, Leeds own Elland Road as long as they continue to meet the mortgage repayments, if they don't, they'll lose it.

I shouldn't keep namign Ridsdale as he was not the only one involved in all this.

[Welshlad]

Originally posted by whodoyoudo
Right then, I've just found out some more info on Elland Road.
From where?

[whodoyoudo]

Info here (http://www.luifa.org/financial_position.asp)

The info has always been available, it's basically in the £60million mortgage, the banks own Leeds ass.

[camaj]

Originally posted by Adam Thirnis
I think if Leeds go into administration they should be relegated.

They'll probably end up being relegated anyway. If they manage to survive, as a club and a premiership side, I think it would be harsh to send them down if they've showed enough ability to rescue themselves. If they survive this season they'd probably clear some of their debts and stand a better chance next seson.

[Bravoman]

Originally posted by sweevo


I was talking about this last night and my take on a potential sugar daddy would be that, why would he pour Millions in to pay off a huge and unmanageable debt when he'd probably be able to snap it up for two bob and a fraction of the original debt in a few months time?

:lol:

Thats basically what happened at Chelsea though. Debts there were over 90m :nuts: Ken Bates said that unless the Russian had stepped in when he did Chelsea would probably have gone into administration this season. But I guess the difference was that Chelsea had qualified for Champ League and had a team with good team spirit, which would have given them some appeal to a billionaire investor.

Chelsea FC biggest executive toy ever. :clap:

[Arch Stanton]

Chelsea owed over £100 million and were hours away from administration before the Russian with the big pockets stepped in.

Chelsea seemed to have a had a better PR dept that dosen't do all thier dirty washing in public like Leeds.

[sweevo]

Personally, I just wish we could get the relegation, administration and points deduction out of the way and then we can all start to look forwards again. :(

[caygs]

http://news.bbc.co.uk/1/hi/england/west_yorkshire/3249396.stm

A group of Middle Eastern investors expects to complete a takeover of Leeds United within a week, say reports. Sheikh Abdul Rahman bin Mubarak al-Khalifa, a member of Bahrain's royal family, is heading a group aiming to take over the Elland Road club, according to news agency Agence France Presse.

"It's a group of investors from the Gulf, not just Bahrain, that I am leading and that will take over the English club," he told the agency in a telephone interview. Sheikh Abdul Rahman said he expected "the deal to be closed within a week". He did not give any figures for the buyout, but the Daily Mirror reported the club has been offered £20m.

"I prefer not to give a figure because the club is heavily indebted and is looking to be rescued and that's what I am trying to do. "My relations with the club go back 25 years and I am saddened by the current situation since they are bottom of the Premiership," said the sheikh who is also the chairman of Bahraini side Al-Najma.

Leeds United said on Wednesday it was in danger of being forced into administration after failing to reach agreement on the restructuring of debts amounting to almost £80m. The sheikh, a long-time fan, would also take on the debts if he takes over in the next few weeks.

The club, who in the 2000-2001 season reached the semi-finals of the Champions League, are currently bottom of the Premiership and without a permanent manager following the departure of Peter Reid last month. Elland Road legend Eddie Gray is in charge of the side as caretaker manager.
No-one from Leeds United was available for comment on Saturday afternoon.

[Welshlad]

Originally posted by sweevo
Personally, I just wish we could get the relegation, administration and points deduction out of the way and then we can all start to look forwards again. :(

How will relegation to a lower division, a much lower turnover and massive financial restraints allow us to look forward? :confused:

Lets just hope this Sheikh does the biz - we'll spend like chelsea then in January! :lol: ;)

[madstu]

Originally posted by Welshlad

Lets just hope this Sheikh does the biz - we'll spend like chelsea then in January! :lol: ;)

On the Shopping list will be, Ferdinand, Woodgate, Fowler, Kewell etc etc. :norty: :nuts:

[Bravoman]

http://news.bbc.co.uk/sport1/hi/football/teams/l/leeds_united/3249396.stm

[the BIG LEBOWSKI]

i think leeds will survive relegation. This will hopefuly allow them to build better PR relations and get some backers to pump money in the club.

Another story was that the sheikh was waiting for the club to go into administration so that he can buy it for around £40 million or sumink.

[whodoyoudo]

It's a bit of a catch 22 situation this.

If they buy the club now for the reported £20mill and take on the £80mill debts, they'd be able to dip into the transfer market when it opens in Jan.
If they hold on and wait for the club to go into administration they maybe too late to get into the transfer market.
For me, they need a couple more quality players to save them from the drop.

[sweevo]

Originally posted by Welshlad
How will relegation to a lower division, a much lower turnover and massive financial restraints allow us to look forward? :confused:

Massive Financial restraints = Administration = A New Start with no 80M millstone in whatever division we end up in.

As for this potential buy-out? If they've got millions in the pot i'd rather they wait for administration before making their move. They can then buy the club on the cheap and then plough the majority of the money into the team rather than pay it all to some American bank and end up with little money for players and in all likelihood, still a fair sized debt!

It's a gamble that could see us relegated but long term I think it's the better of the two options.

If you were a "business man" what would make the most sense to you?

[Crawf]

Originally posted by whodoyoudo
It's a bit of a catch 22 situation this.

If they buy the club now for the reported £20mill and take on the £80mill debts, they'd be able to dip into the transfer market when it opens in Jan.


Do you think any decent player would risk moving to Leeds in January, even if they had "done a Chelsea"?

I`m also wondering who would invest £100mill in a club currently in such a mess, surely you could buy some of the smaller premiership clubs not currently as screwed up for that amount of cash...

[whodoyoudo]

Originally posted by Crawf
Do you think any decent player would risk moving to Leeds in January, even if they had "done a Chelsea"?



Read my older posts, you'll soon see what I think :thumbs:

[whodoyoudo]

Originally posted by sweevo

If you were a "business man" what would make the most sense to you?

To not get involved with the club at all ;)

[sweevo]

Originally posted by whodoyoudo
To not get involved with the club at all ;)

:p

[Bravoman]

Leeds are now saying that there are no plans for any takeover, and the Sheik concerned is also denying it, just says that he is tryink to broker some sort of deal to help the club.

[sweevo]

Unless the banks agree to refinancing of the current debts I can't see how anyone would touch this with a barge pole. :help:

I think it's a case of waiting to see who blinks first.

[Kronik]

Well shares at Leeds United were 3p last time I checked, if your feeling lucky why not invest a little cash. :nuts:

Imagine if there was a takeover, you could become a millionaire! :D

[Mr Dubby]

The thread title should be changed to read "end of the week!"

[camaj]

The sheik is going to invest £2.2M of a £4.4M cash injection apparently

[whodoyoudo]

Originally posted by camaj
The sheik is going to invest £2.2M of a £4.4M cash injection apparently

That's the £2.2M that was supposed to have been tabled 2 weeks ago (When Leighton put his shar up) but never appeared.............

[Mr Dubby]

£4.4m - is there any point? That seems a drop in the ocean -

This Sheik doesn't sound as if he's going to make much of a rattle let alone (bank)roll the team!

[camaj]

£4.4 million could be enough to ensure they stay up or don't have a walkout. Ultimatly they can turn it around if they stay up

[sweevo]

Originally posted by camaj
£4.4 million could be enough to ensure they stay up or don't have a walkout. Ultimatly they can turn it around if they stay up

Personally I'm not so sure. Without a huge injection of cash it's going to be a similar crisis every season until the enevitable happens... :(

[Welshlad]

Even without any takeover, at the end of the season things should look a bit better, provided we can steady the ship until then.
Close season there are a number of players on obscene contracts that are due to expire, many of which will probably be offered nothing or only a fraction of what Publicity Pete negotiated with them, meaning the wage bill should be significantly lower than it already is.
Once the wages are under control (wages have always been *the* major problem for us - I think it was the highest wages/turnover ratio in the league by far!) then we are in a position to actually operate without loss, meaning the loans wont be such a burden (of course they will always be there strangling us, but they wont be quite as crippling as they are now).
Thats my understanding of why the injection is so vital, as is this second half of the season...

[whodoyoudo]

Latest news from the Leeds site (http://www.leedsunited.com/lufcnews.asp?article=175627)

I think this just means they won't go into administration for about 3 months, if in the meantime someone steps in and buys them they will be sorted. They've freed up some funds but I don't think these funds are available to attempt to strengthen the team in Jan.

[Arch Stanton]

Mr Stanton believes this nugget is the most important bit of the statement.

Finally, the Board also confirms that it has now had an approach from a third party, being a company associated with Sheikh Abdulrahman Bin Mubarak Al Khalifa, which may or may not lead to an offer being made for the business. The Board, which is being advised by KBC Peel Hunt, will issue a further statement in due course.

[camaj]

Originally posted by sweevo
Personally I'm not so sure. Without a huge injection of cash it's going to be a similar crisis every season until the enevitable happens... :(

I don't think leeds are running an unviable business. They've got large debts but they've got a fair bit of money coming in surely and if they limit their outgoings they'll be making a profit and then can slowly chip away at the debt.

If they go down this season then there'll be a dip in income, partly from lower gate reciepts but mostly from lack of TV income.

[madstu]

Originally posted by camaj
I don't think leeds are running an unviable business. They've got large debts but they've got a fair bit of money coming in surely and if they limit their outgoings they'll be making a profit and then can slowly chip away at the debt.

If they go down this season then there'll be a dip in income, partly from lower gate reciepts but mostly from lack of TV income.

i dont think that they have a viable business at all, all the debt was accrued on the basis of getting into the CL with increased incomes of £20m a year - which they are very unlikely to ever see again.

[sweevo]

Originally posted by camaj
I don't think leeds are running an unviable business. They've got large debts but they've got a fair bit of money coming in surely and if they limit their outgoings they'll be making a profit and then can slowly chip away at the debt.

If they go down this season then there'll be a dip in income, partly from lower gate reciepts but mostly from lack of TV income.


Unless someone pumps in a HUGE amount of dosh, the 80M will be a millstone for years to come. Even at 5% (it's probably higher in reality) interest that's 4M a year before you even begin to pay back some of the capital! The only way to realistically reduce it further is to sell players and lets face it there's not many players left we could get more than two bob for. Selling the ones who could fetch a bit of money would just make matters worse too.

As for big earners coming off the wage list in the summer Welshlad, i'd be interested to hear who they are? :suspect:

[Arch Stanton]

Originally posted by sweevo

As for big earners coming off the wage list in the summer Welshlad, i'd be interested to hear who they are? :suspect:

Hopefully... Duberry, Harte, Barmby...

[Welshlad]

Originally posted by Arch Stanton
Hopefully... Duberry, Harte, Barmby...
I think I read those three, plus Batty, Wilcox & The Chief.
Out of those six, I can think of only two who should be offered new contracts (wont take much working out!) with a more sensible wage given our financial plight and the age/status of the players in question

Seriously though, four of those at least are earning well into the £30K p/w bracket - perhaps all six and some of them more. I make that a saving of nearly £10M alone per season! :eek:

Take into account all the other wasters (god knows how much we are paying Roque Jnr!) and its easy to see why were in such a mess.

As camaj said, once the club start running at a profit - something the prof. said we were ready to do as of the last set of figures (believe that if you will! :suspect: ), then things will look a whole lot better. Of course its going to be a Loooooong process to get rid of this mess, but this season is absolutely critical for obvious reasons.

[sweevo]

There's a program on Look North and Radio Leeds tonight called Leeds United On Trial where they're going to hold a mock trial too see who's responsible for all this. Sounds like it could be fun, especially as the players are in the dock as well as the managers and board! It's on Radio Leeds at 10pm but think it's on the TV a bit earlier in the evening.

[johnson293]

http://www.football365.com/All_News/Breaking_News/story_93104.shtml

Wednesday December 10 2003

Leeds have confirmed to the Stock Exchange they are in discussions with a number of interested parties about a possible takeover.

The club are currently around £80million in debt and recently reached a 'standstill' agreement with creditors to stave off the immediate threat of administration.

Sheikh Abdulrahman Al-Khalifa has been linked with making an offer for the club which released a statement this morning which read: "The Board of Leeds United PLC confirms that it is currently in discussions with a number of interested parties which are at a very early stage and may or may not lead to an offer being made for the company."

It went on: "The board, which is being advised by KBC Peel Hunt, will issue further statements when it is appropriate to do so."

The club have been set a deadline of January 19 by their main creditors, three companies who who are owed £60million and the player-leasing agents who are owed a further £21million.

Leeds chief executive Trevor Birch is confident he will save Leeds from administration, and believes not only will no players be sold in the January transfer window, but new faces will arrive.

As well as the reported interest of Bahrain's Sheikh Abdulrahman bin Mubarak Al-Khalifa, who is backed by Saudi businessmen, former deputy plc chairman Allan Leighton is believed to be putting together a consortium and resigned from the board last week to avoid a potential conflict of interests.

Birch believes any buyer would have to have Leeds 'in the blood.' He told the Press Association on Tuesday: "It's tough because it's a hard market out there.

"Football is going through a difficult period and therefore there aren't people queuing up to snap your hand off.

"So it has to be something that's in your blood. You are looking for somebody with an emotional aspect to the investment."


MJ

[sweevo]

It sounds like fortunes may be about to change at ER. Obviously it'll be of little good if the team end up relegated at the end of the season!

[Arch Stanton]

Leeds have also signed a new kit deal this week with Diadorra for £12 million.

Leeds Utd loadsamoney...

[sweevo]

Yep, five parties alledgedly interested in buying the club, so maybe things are gonna take a turn for the better. :)

I really didn't think anyone would touch the club with a bargepole hence my preference for administration at the earliest opportunity. I just hope whoever takes over has the interests of the club (long term) at heart rather than seeing it as a chance to make a quick buck.

[MrFurious]

just noticed on text that no bids for the club have come in,i'm watching the arsenal game at the moment,1-2 at halftime,i can see a few players leaving in the next few weeks,viduka,smith,milner,matteo and robinson seem most likly to have interested buyers,god help us!:help:

[camaj]

Apparently Robbinson's moving to Man C

[sweevo]

Originally posted by camaj
Apparently Robbinson's moving to Man C


I doubt anyone will leave until the summer unless they ask for a transfer during the current tranfser window. Selling anyone bar fringe players now would be plain suicide. Birch has said as much himself.

Relegation or not, I doubt Viduka, Smith & Robinson will be wearing the same strip come the start of next season.

The lack of interest in buying the club is certainly worrying. Maybe they're just waiting for impending administration in two weeks time after all?

[whodoyoudo]

Originally posted by sweevo
I doubt anyone will leave until the summer unless they ask for a transfer during the current tranfser window. Selling anyone bar fringe players now would be plain suicide. Birch has said as much himself.

Relegation or not, I doubt Viduka, Smith & Robinson will be wearing the same strip come the start of next season.

The lack of interest in buying the club is certainly worrying. Maybe they're just waiting for impending administration in two weeks time after all?

Aye, and if the administrators come in, IMO the 1st thing they'll do is offload players, get some cash flow in and cut the wage the bill, they'll have to act quick during Jan. Obviously they'll owe transfer value to the bank but they won't be too fussed as that's owed no matter what but they'll have a few ££££

[sweevo]

Hope at last? :eek:

Billionaire businessman Philip Green could be launching a bid to save Leeds United FC from administration, according to a BBC report.

Mr Green is thought to be involved in a consortium put together by former deputy chairman Alan Leighton.

[Welshlad]

yep, this was posted on the Leeds List this morning.
Billionaire = :)
Leighton = :(

[sweevo]

No smoke without fire (hopefully) but will it be too late to prevent relegation? :help:

[Welshlad]

i think tomorrows game will have a *massive* influence on that. IMO we have to go all out to win it, and scrap this 2 midfielders to protect the defence.
if Smith were available i'd have dropped Matteo back into defence and gone:

Robbo
Kelly Matteo Killer Olembe
Pennant Batty Seth/Bakke Milner
Smith Dooks

and really gone at them. lets face it, there defence is dire, as is ours, so lets try and outscore them...draws are useless for us...the only thing that is any use now is victories!

[camaj]

If you go all out won't you expose yourself to counter attacks. You'd be better off playing for a 0-0 and hope for a goal at the other end

[Welshlad]

Not really. We’ve haemorrhaged goals all season, have the worst defensive record in the league and basically have little or no chance of keeping a clean sheet.
IMO the best form of defence is attack, especially at home, and “hoping for a goal” isn’t enough when the crux of your midfield just sits back to protect the defence…

[MrFurious]

a leeds fan is a true fan,thats what one of the lads at work told me,said if you support leeds through all this crap then we musy be leeds through and through,which i am.....:clap:


still marching on together.for the time being at least:wave:

[camaj]

Originally posted by Welshlad
IMO the best form of defence is attack, especially at home, and “hoping for a goal” isn’t enough when the crux of your midfield just sits back to protect the defence…

I hope you do that, a big win for us would boost our goal difference and if Wolves win too it'll be a great result

[whodoyoudo]

Things get worse for Leeds.

Viduka went off at half time today with a dodgy hamstring (he was carrying this into the game)
Duberry went down in the 2nd half, no one knows what's happened to him yet but he had to go off and Leeds finished the game with 10 men as they'd used all their subs.
These injuries will not help given the weak squad they have. If you were a buyer would you buy Leeds in the state they're in?

[ajw000]

I thought it was a nice touch by keane not to celebrate his goal today.

At least Wolves lost today too(but still have that game in hand) :(

[whodoyoudo]

Originally posted by ajw000
I thought it was a nice touch by keane not to celebrate his goal today.

At least Wolves lost today too(but still have that game in hand) :(

Yeah, seems a nice lad, he did that against Coventry.

I've just heard that Viduka has massive personal problems and is flying home to Australia immediately.

[Welshlad]

Originally posted by whodoyoudo
problems and is flying home to Australia immediately.

Yes, a close relative has been quite ill over the last few days and he's gone back to be with his family. In all probability he'll miss the So'ton game also :(

Football, frankly, is a distant second and while I dont like him as a player, i hope he takes his time and everything turns out OK!

[MrFurious]

its vidukas father thats ill,it said on the radio ealier,hope all goes ok for him and his family too

[camaj]

Originally posted by whodoyoudo
Yeah, seems a nice lad, he did that against Coventry.

And wolves too I think? He basically said that he didn't want to rub it in the face of the supporters of his old club. Good for him I say :notworthy

[whodoyoudo]

Originally posted by camaj
And wolves too I think? He basically said that he didn't want to rub it in the face of the supporters of his old club. Good for him I say :notworthy

I think you're right, I'd forgotten how many clubs this lad has played for :lol:

[camaj]

Originally posted by whodoyoudo
I think you're right, I'd forgotten how many clubs this lad has played for :lol:

Thank god he always scores against them :clap:

[Welshlad]

From Sky Sports
SHEIKH BREAKS HIS SILENCE ON BID
Sunday 11th January 2004


Sheikh Abdulrahman bin Mubarak Al-Khalifa has broken his silence on his possible takeover bid for Premiership strugglers Leeds United.

The Sheikh is a member of Bahrain's ruling dynasty and was linked with a move to take control of the club, with chief executive Trevor Birch (pictured) saying the West Yorkshire outfit face going into administration unless they can find a backer by January 19.

Until now the Sheikh has refused to comment on speculation linking him with the club, who now sit five points from safety after their latest defeat at the hands of Tottenham on Saturday.

But the Sheikh has now declared he is ready to set up a rival consortium to that of former Leeds deputy chairman Allan Leighton.

Leighton is believed to be assembling a group which includes Philip Green, the entrepreneur who owns British Home Stores and the Arcadia Group.

The Sheikh's consortium is believed to include two Saudi Arabian businessmen and a company based in Asia.

Both groups have approached Leeds' major creditors to extend the deadline and buy more time to raise funds, with the Elland Road outfit's debts around £80 million.

The Sheikh says he has been in London recently talking with potential financial partners and said: "I have been doing my best to put a bid together.

"There are signs of hope. The more talks I have, the more optimistic I become about a solution."

The Sheikh said he has "a passionate desire to re-awaken a sleeping giant."

English-educated, Sheikh Abdulrahman said: "I fell in love with the club when I was 11 years old when Leeds played Chelsea in the 1970 FA Cup final.

"It was fated that I should love the club. Whether that fate will determine that I can save them 30 years later, I don't know.

"Leeds mean everything to me, I was born to support them.

"Those who are closest to me, my friends and my family, know what Leeds United mean to me."


God I hope he comes through. Not sure about Leighton & Co taking the reigns, but tbh anyone has to be better than nobody!

[whodoyoudo]

I just find it odd, surely if you were going to buy Leeds, in their current state, you'd want to keep them in the prem? To keep them in the prem they need to buy well during the transfer window. It doesn't look like a deal to buy the club will be completed by the end of the transfer window so the chances are Leeds will go down. The buyers will then be in real trouble with all that outlay for a nationwide league club, maybe I'm missing something?

[sweevo]

After saturdays game you could taste the air of resignation as you trudged out of the ground. The mini-revival pre christmas looks to have been a flash in the pan. The crowd's been 100% behind them (all season) and backed them well but it's not made a jot of difference.

We're just too negative for me and if we do take the lead we retreat into our own half and try to defend it for the rest of the game! :oh-hum:

I think the writing is on the wall, I really do. It's certainly time to ditch 4-5-1, especially at home where we MUST win if there's to be any chance of survival. I jeered and booed at the final whistle on saturday as I just couldn't believe how pathetic they were. That last time I did that was back in the dark old days of the second division and there's been some pap served up between then and this weekend I can tell you!!!!!! :eek:

Over paid, over rated, no balls, no idea and probably no hope. :cry:

If I had the millions necessary i'd wait for administration. Buy the club cheap (50M? They having a laugh?), pay off a fraction of the 80M debt and wait for relegation. I'd then totally decimate the squad, keeping only the promising youngsters. I'd keep Smith if he wanted to stay but would understand it if he had to move on. The rest would just be told to find themselves new clubs, they're not wanted. I'd get a PROVEN manager with 1st Div experience and back him in the transfer market. With all the money I'd have saved, which I reckon would be at least 70M, I could hand the new manager a ENTIRE new squad of HIS choosing. My only condition would be a wage bill fitting that of a first division club.

I think to buy the club for 50M, be saddled with it's debts of 80M straight away and then be relegated (which is looking likely) would be an absolute disaster for any consortium which came in. You'd have to have serious money to be willing to take such a gamble. Birch knows this, hence hsi talk with the players a few weeks back.

As far as a new manager goes my own choices would be:

1) Alan Curbishley
2) Sam Allardyce
3) Gary Megson
4) Ronnie Moore (Outsider) :)

Sorry to be defeatist but I've lost all faith in the players. :(

[MrFurious]

what about sponsers now,are nike about to end their deal?i doubt we'd get a nice deal like we did when they came onboard in the champ league days,remember them,i agree with you sweevo,i can't see us getting out of this one now,we have stopped scoring and cant keep the ball and now have also lost viduka for a good couple of weeks,time to go back and start the rebuilding again,i'll get my burton/top man shirts out of the wardrobe to remind me of the lower divisions:(

[whodoyoudo]

Originally posted by MrFurious
i'll get my burton/top man shirts out of the wardrobe to remind me of the lower divisions:(

:lol: I remember those tops, as young Man U fan at the time we found it highly amusing re-arranging the letters in 'TOP MAN' to TAMPON, :| hey, I was young back then.

[sweevo]

The Nike deal finishes at the end of the season. There's supposedly a new deal with Diadora but I've seen nothing official.

Burton and Topman! I always got my shirts without the sponsors on during those heady days! Nowadays you've got no choice as to whether you're a walking billboard have you???? :suspect:

[johnson293]

http://msn.skysports.com/skysports/article/0,,7-1119384,00.html
from Sky Sports
Sky Sports News has discovered that Leeds United are desperately searching for £5million to stave off the threat of administration.

The Elland Road outfit have a January 19 deadline to meet and according to Paul Dews of the Yorkshire Evening Post, need roughly the price of a Mark Viduka to avoid setting a financial precedent in the Premiership.

No club has gone into administration in the top flight and with debts of more than £80million to clear, acting chairman Trevor Birch needs to either get the deadline put back or come up with an investor in the next three days.

In the latest of a series of interviews on Sky Sports News counting down to the fateful day, Dews says that the sale of players and a pay deferral from those that are left may even be needed to save the club.....
Maybe our (Newcastle's) £2m bid for Alan Smith may be enough then????

MJ

[ryonhilluk]

Originally posted by johnson293
http://msn.skysports.com/skysports/article/0,,7-1119384,00.html

Maybe our (Newcastle's) £2m bid for Alan Smith may be enough then????

MJ

I doubt Newcastle are daft enough to offer £2 million seeing as he should be able to go for next to nothing next week.

Anyway, Leeds are finished. Administration on monday and relegation in May. I would be surprised if anyone is stupid enough to make a bid for the club as they are well over £70 million in debt and rising.

The fact is Peter Ridsdale should never be allowed near a business again after the shocking mess he has left at Elland Road.

[MrFurious]

please no:( i cant take much more,leeds are breaking my heart now:cry: :cry: :cry:

[whodoyoudo]

Originally posted by ryonhilluk
I doubt Newcastle are daft enough to offer £2 million seeing as he should be able to go for next to nothing next week.

Anyway, Leeds are finished. Administration on monday and relegation in May. I would be surprised if anyone is stupid enough to make a bid for the club as they are well over £70 million in debt and rising.

The fact is Peter Ridsdale should never be allowed near a business again after the shocking mess he has left at Elland Road.

Leeds are a plc, it's the board that are at fault, Ridsdale is the scapegoat. He made it that way by taking all the plaudits when they were doing OK.

Anyway, I've saying for ages that I didn't think anyone would be stupid enough to buy the club at the moment. Not sure if anyone is daft enough to waste £5million either but sometimes you get a surprise!
:wave:

[madstu]

heard that adminstration is going to be held off for two weeks to see if any money comes in from transfers.

Which is good thinking, because the likes of Man Utd are desperate for a striker and may pay the £5m Leeds need.

If they were to go into adminstration on Monday, then teams could pick up Leeds players really cheap - but if teams know they are going to last to the end of the transfer window then there could be a few transfers.

[camaj]

Apparently spurs want to pick up Robinson cheap on monday

[mikeh1982]

would be nice, proper cover for Keller (or replacement?)

[camaj]

Originally posted by mikeh1982
would be nice, proper cover for Keller (or replacement?)

We need a replacement! I'm still hopefull sullivan will come back

[MrFurious]

what would happen if the worst thing did happen to leeds,say they had to sell and got relegated,would they continue as a club in the nationwide or do you think they would not be able to even function there???maybe the club would cease to exist!!!!i can feel the prozac prescription coming on :oh-hum:

oh and another thing,what do the people of leeds and utd fans feel about chris moyles,i have to listen to him in the office and he is constantly taking the mick out of the situation,and he calls himself a fan,bet i've seen more games than him

[ryonhilluk]

So another day goes by and still no buyer for the club.

If i remeber correctly Fiorentina started again from the bottom league (Serie C?) and changed their name to something like Florentia Viola.

AFC Leeds anyone?

[richardp]

Originally posted by ryonhilluk
So another day goes by and still no buyer for the club.

If i remeber correctly Fiorentina started again from the bottom league (Serie C?) and changed their name to something like Florentia Viola.

AFC Leeds anyone?

Serie C2 IIRC, as a new club you only need to get promoted three times through to reach Serie A I think. Leeds would be looking at closer to 8-9 promotions I think :(

[madstu]

look at Bristol City - IIRC they (in their current form) have only existed since about 1984, because they went bankrupt and then created a new company.

[whodoyoudo]

I'm pretty sure that Leeds Utd AFC would continue with new owners, it's Leeds Sporting plc who would cease to exist.

[MrFurious]

bye bye prem after todays results,

[agnetha]

Originally posted by MrFurious
oh and another thing,what do the people of leeds and utd fans feel about chris moyles
He's a knob :|

[bigman]

Originally posted by madstu
look at Bristol City - IIRC they (in their current form) have only existed since about 1984, because they went bankrupt and then created a new company.

Look closeley at the Middlesboro club badge - it says '1986' on it.

[ajw000]

anyone got any firm news about extending the agreement? Birch said they've nearly go themselves another week, but reports are saying that this hasnt been announced to the stock market...

edit-

Leeds get new reprieve
Leeds have been granted another seven days to come up with a rescue package to safeguard their financial future.
Acting chairman Trevor Birch made a statement to the Stock Exchange on Monday confirming a week-long extension had been agreed with creditors.

Leeds face the prospect of going into administration if they fail to reach agreement on their £83m debts.

Birch has also managed to agree the possibility of a further two-week extension up to 6 February.

However, that extension will only be allowed on certain financial conditions being met.

Birch is also likely to ask the club's players to defer a portion of their wages until the end of the season.

The deferment is likely to be around 30% - until the end of the season, which would provide Leeds with the £5m needed to see them through the next four months.






Im not too sure how I feel about this, obviously Im glad that they're arent going into administration yet, but at the same time I dont want it dragging out like this for the rest of the season, especially if the injection of cash isnt enough to at least keep smith/robinson(not too bothered about dooks, he's on his way out for sure)

[gothmog]

Asking the players to take a pay cut now..

http://news.bbc.co.uk/sport1/hi/football/teams/l/leeds_united/3412933.stm

Not looking good at all :(

-- Jon

[Rollo Tomassi]

Originally posted by MrFurious
what would happen if the worst thing did happen to leeds,say they had to sell and got relegated,would they continue as a club in the nationwide or do you think they would not be able to even function there???

If they're in administration, they'll start the season with -10 points in the nationwide...

[gothmog]

If they are in the nationwide and in administration, they'd be owing £100m with no means of ever paying it back - they'd be gone.

This raises several questions:

a) What is Leeds Utd actually worth? ie How much can the administrators hope to make for the creditors (My guess is probably not much more than 20p in the pound on what they are owed).

b) If Leeds do a Fiorentina, will they be able to stay in the league or have to start again from nowt (with a 10 point penalty if they stay in?).

c) Will they keep Elland Road or will they be sharing with Harrogate Railway ;)

d) Is there any point in just struggling to 'exist' in the Premiership even if we could. Or is it time to embrace our doom?

e) What will Leeds Utd be in 5yrs time (Don't say a memory :razz: ).

-- Jon

[MrFurious]

in 5 years time i might under the current circumstances get my dream of playing in defence for leeds in some form or another

[whodoyoudo]

Originally posted by gothmog
If they are in the nationwide and in administration, they'd be owing £100m with no means of ever paying it back - they'd be gone.
- Jon

I'm pretty sure Leeds Utd will still exist, it's Leeds Sporting plc who'll be out of business.

[Arch Stanton]

Yeah, it's Leeds plc who'll go under although they own Elland road, Thorp Arch training ground and all the players contracts....

[sweevo]

Personally, I still think the Nuclear option is in the best interests of the club LONG TERM. Even if they end up in Div2 the club will turn it around as they'll be no 83M millstone around it's neck!

If they survive this season it's going to be the same thing season after season without a HUGE injection of cash. From my seat in the Kop I've seen nothing to make me think they'll scrape through this time. Maybe if they do survive this season someone will pay off some of the debts but It's going to take some serious money to make them a mid table side, never mind UEFA cup hopefuls! :nuts:

[madstu]

in the papers today it says Leeds players refuse to take a pay cut/deferal instead thet say they would rather someone is sold.

[Snoopy]

Originally posted by madstu
in the papers today it says Leeds players refuse to take a pay cut/deferal instead thet say they would rather someone is sold.

Have they suggested how they should sell?:suspect:


Ooops!!!

Meant to say have they suggested who they should sell?:nuts:

[Gorky]

Originally posted by Snoopy
Have they suggested how they should sell?:suspect:

Ebay?

[sweevo]

Leeds Fans,

Am I being hard on the players by labeling them as greedy and selfish after this latest turn of affairs? :suspect:

This stance says to me, sell one of us and then we won't risk losing any money in the summer when the club gets relegated and goes to the wall as I'll jump ship and get paid a kings ransom elsewhere? :wave:

It's hardly suprising if the club is bottom of the PL if all they care about is their money, which lets face it is obscene! It's not as though they won't be able to pay their mortgage and feed the blond trophy wife and kids is it? :)

Should I bother to turn up for the remainder of the season or just throw my season ticket in the bin and wait for next season when they've departed? I'm seriously questioning their loyalty to the cause. :help:

EDIT: On the face of it, selling any of the few players who could fetch the necessary 5M would make the mountain even harder to climb wouldn't it?

[Welshlad]

but any takeover is supposedly going to incorporate the debts from the various creditors. if Leeds enter Administration, there is no way the creditors will get anything near the money they are owed. Its been strongly suggested that they would accept in the region of 25-30M in total in the face of a buyout as oppposed to risk getting 5 10 or 15M should administration occur

[whodoyoudo]

Originally posted by Snoopy
Have they suggested how they should sell?:suspect:


Ooops!!!

Meant to say have they suggested who they should sell?:nuts:

The players made no suggestions apparently. It's been speculated that, if someone had to go, it would be Smith because:

Viduka is worth nothing to Leeds as they owe £5/£6 million to the finance company for him so they'd raise no capital by selling him.

Paul Robinson is not worth £5million.

Alan Smith is the only player they'd be able to sell to raise the £5million req'd.

I'll tell you what though, they may get so desperate to sell that they let Smith go for £3million and turf out Robbo for £2million too. If with a few days of the transfer window closing, all they've had is cheeky offers (e.g. Newcastle £2million Smith) they may have to take them.

[gothmog]

Originally posted by sweevo
Leeds Fans,

Am I being hard on the players by labeling them as greedy and selfish after this latest turn of affairs? :suspect:


They've agreed that they will defer wages, but only as a last resort. Not a flat out refusal.


This stance says to me, sell one of us and then we won't risk losing any money in the summer when the club gets relegated and goes to the wall as I'll jump ship and get paid a kings ransom elsewhere? :wave:


TBH If I was a player I would know that me defering 30% of my wage is not going to save Leeds Utd in the long term, it might buy then an extra week but that's it. If they thought it was going to save the club I think they would be doing it. (ie it's defer so theoretically they don't stand to lose out in the long term). Remember all but 3 or 4 of our players are not 'big-time' and are not neccersarily going to be better off at another club.


It's hardly suprising if the club is bottom of the PL if all they care about is their money, which lets face it is obscene! It's not as though they won't be able to pay their mortgage and feed the blond trophy wife and kids is it? :)


All the money in the PL 's obscene, but it is the going rater, lets face it we don't have many big wage earners (takers? ;) ) left. I don't see too much of a 'commitment' issue on the pitch at the moment (we are just rubbish :( ), it was worse when we had Bowyer and that french twerp who was leaving for 3yrs mucking the club around :(


Should I bother to turn up for the remainder of the season or just throw my season ticket in the bin and wait for next season when they've departed? I'm seriously questioning their loyalty to the cause. :help:

EDIT: On the face of it, selling any of the few players who could fetch the necessary 5M would make the mountain even harder to climb wouldn't it?

Don't be daft, Leeds needs your support now and even more so in the future! I think things are going to head very quickly now. All this talk will probably be irrelevent in three months or so :|

-- Jon

[sweevo]

The clubs best hope is to stay in the PL as they'll have a better chance of finding a buyer. The players literally giving the club little choice but to sell enough players to generate 5M before the close of the window isn't going to help this cause is it? :mad:

The players stance is all but condemning the club to relegation not that there's much chance of avoiding it if we managed to keep them all. :eek:

Smith's agent says that he's now up for sale (according to Radio Leeds this morning) as is all the squad so the final fire sale has begun. I've yet to see or hear this confirmed anywhere else as yet though. No smoke without fire?

I'm struggling to find a reason to turn up to the Boro' match as things stand. The way I see it is that all that i'm doing is helping to prop up the PLC a little longer and wasting my time watching a bunch of greedy so and so's, who when push came to shove (with the odd exception) put money above all else.

They may as well have gone into administration on monday if this was the only other option available to them.

Playing in the football league doesn't bother me by the way. I used to go in the dark days of Division 2. I just don't like to be taken for a mug. :suspect:

[Welshlad]

Finally some movement from the various supporters groups?

http://www.saveleedsunited.org/
http://www.fanssaveleeds.com/

Not sure what good it can do though...

[Alan. b]

http://thedvdforums.com/forums/showthread.php?s=&threadid=260737

We don't really need two threads discussing the same issue especially as some people are posting the same in both threads. So I'll lock this one down.

Closing