oldlufc
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If past experience is anything to go on Leeds Utd Vision will be a Property Development Company. Bates will come clean on owning TA and ER and his latest plan will be to redevelop both sites as Out of Town Shopping Centres, with hotels and a Casino.
Bates has always 'hated' Leeds Utd and this will be is parting shot after the sale of Snoddy to Norwich.
I have just heard that it is a wealthy Mediterreanean consortium looking to move a large amount at short notice.
It's all Greek to me!
@wozzer I completely agree. If you go back to the administration why were the major creditors so insistent on only dealing witth Bates? Because then they would not have to take a huge loss by accepting the xp in the £ the other creditors were forced too. The major creditors can get their money over time as Bates milks the club year on year. I recently read somewhere that LUFC have declared profits totalling circa £10m since coming out of administration andyou can bet the true figure is higher than that. What we do know is that it has not been invested in the squad, the club have been unable to buy back Thorp Arch or Elland Road and had to offset he £7m poshing up the East Stand against Season Ticket sales for the next 2 seasons. A £7m investment in a stadium the club does not own - nudge, nudge, wink, wink! Don't forget Leeds City Council refused to loan the club the money to buy back Thorp Arch, or was it that Bates & Co used that as a smokescreen because you can't buy back something you already own but the accounts can show a large sum going out of the club in rents to cover money going elsewhere, the whole stinks to high hell!
It really makes you wonder why Bates bought into Leeds Utd,in the first place. Why did the debts escalate so quickly once Bates got involved. Has LUFC been used a vehicle to clear other peoples debts? And to think the peole who 'own' LUFC pass the Football authorities' 'Fit & Proper' test. I don't know whether to laugh or cry!
I really can't see Bates & Co leaving any time soon as they would have to open the books to any prospective purchasers. Still, the 'morons' protest last season scared off a potential £20m investor - yeah right! Bates would do well to remember the old adage "you can fool some of the people some of the time but you can't fool all of the people all of the time" at last people or starting to wise up to Bates & Co and are voting with their feet.
The chief beneficiaries of any scheme to enhance Er and bring in money will be the 'owners' of ER and it is my understanding that that is not Ken Bates!!!!
I cannot understand why KB wants all these 'improvements' to Er when the club only rent the site?
Then again, there are lots of things i have never understood about what KB gets up to.
Still, as long as the v'morons' keeping coughing up everything will be fine!
Diouf would do nothing in terms of improving the image of Leeds United. His signing would send out all the wrong signals to every other has-beens' agent looking for a final 'juicy' contract. If this is the best the club can come up with having had people 'scouring' the country to identify new signings then things are not looking good. Diouf has hardly been a roaring success at Doncaster so how come he is the type of player we need at ER? Far better to sort out the defence and midfield befote bringing in Diouf.
If Diouf is the answer then someone is asking the wrong question!
It would really help if we could read the post. The screen background is bloody awaful - back to the drawing borad me thinks!!!
Bates is in a No-Win situation re the situation at ER . If you accept his line that he backed Grayson with funds, then he has failed miserably and have to ask why he persisted with Grayson for over 3 years. He employed Grayson, and before that Wise, McAllister and Blackwell, backed his transfer policy and is therefore as much to blame for the club's current position as anyone.
Equally, if he has not backed Grayson, how does he expect the club to compete, and just where has all the money gone?
Bates is like a lot of others involved in football, not the financial "wizard", the astute, clever businessmen he claims to be. After 7 years, of his stated priorities, how many have been acheived?
1. Promotion back to the Premiership - NO
2. Buy back ER - NO
3. Buy back TA - NO
4. Attract new investment - NO
In any other walk of life he would be a disaster. Only in the shady, murky world of football finance can these people quite lIterally "get away with murder". Only in football can they 'fleece' loyal supporters, go into administration etc no questions asked by the football authorities. This is the man who "bought" in to Leeds when debts were down to circa £20m only to put the club into administration some 18 months later with debts of £37m. The CVA process and administration were a complete farce leaving Bates in control.
Unfortunately, there is no way he will sell up, he dare not open the books to any potential buyer for fear of letting the truth of what has been going on at ER under his tenure becoming public knowledge.