Leeds United Message Board
Further to our previous statement of the 29th May, Leeds United can confirm they have granted an exclusivity period to enable a potential investor to carry out the appropriate due diligence.
It is anticipated this will be a fairly straightforward process.
A confidentiality clause prevents the club from making any further comment. However, our discussions with them have left us very comfortable that they have the financial resources to support the club and that they will have no issues in satisfying the requirements of the Football League's Owners and Directors Test, unlike many of the previous approaches we have had to endure.
We will not be making any further announcements in the near future.
Lotto, when you say the end is near are you referring to Yahoo or what. I know my computer kicks off with a starting handle, but by the time it kicks in to this carry on, I've forgotten what I wanted to say.
'Five stars from me, Jez for a positive post! We have been down, and kept in the dark, for so long that we now view everthing to do with the Leeds playing side negatively - specifically, Warnock signing 'old', free transfer players that have the smell of Bates' recruitment policy.
However, if you look at the side that Warnock assembled for QPR to get auto promotion, the majority of his team were close to 30 y/o/a:
I guess that we just have to trust in Neil, and him knowing what he is doing. Though, presently, I am not convinced we have the makings of a winning team. As you say, we still need a couple of big (match-winning) signings to complement the core, hardworking (run through a brick wall for the team), honest, proven at Championship level, players that meet Warnock's basic demands - buying players on the cheap, a la Bates, will not provide the spark that ignites Leeds return to success, and I hope the new owners, when they declare themselves, realise this.
Thats the general feeling on most of the fans websites Andy that we wont hear anything until next week. As long as we do hear something positive im happy to wait another week if it means we are finally rid of that poisionous specimen.
On a positive note, the rumours about the players Colin wants to bring in are very encouraging, with most of them commanding transfer fees, so no sign of any loanees. He is signing hardworking honest players who are proven at Championship level and will give consistent performances every week which is what you need if the team are to go up. I think once he is given a few quid after the takeover he will compliment the team with a couple of big signings to give us that bit extra, maybe someone along the lines of Beckford.
Things are bubbling away nicely, we have waited 7 years to get rid of this cancer, another week should see us wake up from this nightmare and then we can all start dreaming about what might be next season. MOT
With the continuing news blackout about a Leeds takeover, there is speculation that the deal won't be announced until, on or after, 11 July 2012 - the fifth anniversary of Leeds entering administration. The rationale being that Bates (or one of his shell companies) will be liable to repay creditors if Leeds returns to the Prem, is sold, or otherwise has the funds to honour its debts.
The counter argument is, of course, that Leeds has already been sold, to Bates, and this injunction should have come into effect when Bates "bought" the club - which, clearly, did not happen.
However, as with everything to do with the "ownership" of Leeds under Bates' stewardship, there is no clarity. Bates' purchase of 79 per cent shares in Leeds may not have constituted a 'takeover' and, with no apparent injection of funds, avoided the injunction.
Further, with his love of litigation, who's to say Bates has not applied for and been granted a "super injunction" ban on the reporting of all of his companies' financial dealings. As we all suspect, Bates and his dodgy offshore companies are one and the same. So techincally, and twisted legally, Leeds was not "sold" to Bates as he already owned it - and he certainly ensured it had no accountable resources to repay creditors.
To quote the New Order song, I've Been Getting Away With It All My Life, it appears that Ken Bates has done it again... Expect a takeover announcement on 12 July 2012 - one day after pre-season starts.
'Been reading that company purchaces take 7-8 weeks, with due diligence being the last 10 per cent (less than a week for crossing 'teas' and dotting 'eyes'!) so, I's crossed, the good news should break soon!
Although Leeds made its first announcement on 29 May, you have to reckon negotiations began sometime after Jason Pearce was signed on 4 May - 7-8 weeks back - which fits the timescale, and probably explains why the club could not release funds to buy Joel Ward.
July, the start of the transfer window, is four days away. With Neil Warnock chomping on the bit to get his new team recruited before pre-season starts on 11 July, and already having a couple of Bosman transfers lined-up, it implies that 'those in the know' feel sure that the deal will happen.
Yip-buddy-eee! At last we can start to dream again.
Roll on next season and promotion to the Premiership!