Vital Football

Latest Leeds United News

A Little Clarity

A Little Clarity

On Monday morning of last week (April 30th), Leeds United called in KPMG. KPMG are a group that deal with companies that are struggling badly with their finances. KPMG had been consulted in previous months by the Elland Road board regarding the money problems we had.

The opportunity to fix a major hangover at the club could be seen by all after the teams collapse against Ipswich the Saturday before. A 10 point penalty would only confirm our relegation by way of a penalty. Relegation was all but nailed on.

Leeds United refused to comment on 'pure speculation', regarding the possibility of going into administration. The size of the problem being kept from everybody. This has become the norm at Leeds of late.

Much speculation did fly around, but I do have to say that, after listening to Gerald Krasner on Radio Leeds on the Monday night, he was the only person with the knowledge of the situation that didn`t try to spin, distort or speculate on the on going saga. The interview he did, with the benefit of hindsight, was very accurate. For this I applaud him.

On Friday of last week (May 4th), at 3.15pm Leeds were indeed put into administration. Then bought straight back again by a new company fronted by Ken Bates. The clear message from KPMG and Leeds was that the best deal was taken, as no other deal was on the table. Many groups potentially looking to buy into Leeds were left disgruntled due to losing the chance to submit a proposal to the administrators. Ken Bates has since questioned why these people hadn`t come forward before with proof of funds. The message back is that these fresh investors aren`t happy about any deal involving Ken Bates.

Many different groups have come forward claiming an interest in investing. How realistic they are is very much open for debate.

Any deal that has been agreed between Leeds United and KPMG has to be voted on by the creditors (people we owe money to). Any proposal that is submitted between now and the vote must be considered by KPMG, and the best deal usually the one that is eventually accepted.

The main creditors have a vested interest in Ken Bates, and any deal not involving him seems unlikely.

I strongly urge the administrators to do the right thing and consider every proposal put forward and consider the best interests of Leeds United Football Club.




Join Vital Leeds

It's easy to register for Vital Leeds, simply click the link and enjoy getting involved (you can even win prizes!)

Message Board

To visit the Vital Leeds message board, click here.

Get involved

This website is your website and we are looking for people to help run the site. Do you go to most of the games and have an opinion? Why not write a match report? Perhaps you are a budding journalist or even just someone who is very opinionated? Well why not join our team? If this interests you please contact Vital Leeds.

Win FREE pizza with Vital Football!
Select your team and get 50% off if they score twice.
www.papajohns.co.uk/football



Click here to join in the debate on the club forum.

Writer:
Date:Monday May 7 2007
Time: 8:08PM

Best of Vital Network

Login to post a comment

Recent Leeds Articles

LUFC Leeds United v Charlton Athletic - Line-Ups

Teams for the game this afternoon

LUFC Leeds United v Charlton Athletic - History

Vital Leeds United looks at the head-to-head record between Leeds United and Charlton Athletic at Elland Road over the years

LUFC Wood to chop down Charlton?

Betting ahead of the game today

LUFC Defender not sure what is happening with contract talks

Leeds United defender Charlie Taylor says he is still unsure what the future holds for him at Elland Road

Archived Vital Leeds Articles

Vital Leeds articles from

Site Journalists

Dazza71
Editor email
Profile

Current Poll (see more polls)

How do you think Leeds will do against Charlton?
Suggested By:
Win84%
Lose3%
Draw13%
ScoopDragon Publishing Entire League Network of Sites

League Table

# Team P W D L Pts. GD
1 Middlesbrough 45 26 10 9 88 32
2 Burnley 44 24 15 5 87 33
3 Brighton 44 24 15 5 87 30
4 Hull City 44 23 11 10 80 31
5 Derby County 44 21 14 9 77 24
6 Sheff Wed 44 18 17 9 71 19
7 Cardiff 44 17 16 11 67 8
8 Ipswich 44 16 15 13 63 0
9 Birmingham 45 16 14 15 62 4
10 Brentford 44 17 8 19 59 -2
11 Preston 44 14 16 14 58 -1
12 Leeds Utd 44 14 16 14 58 -7
13 Q.P.R. 44 13 18 13 57 0
14 Wolves 44 13 15 16 54 -6
15 Reading 44 13 13 18 52 -4
16 Huddersfield 44 13 12 19 51 -3
17 Forest 44 12 15 17 51 -5
18 Blackburn 44 11 16 17 49 -3
19 Rotherham 44 13 10 21 49 -13
20 Bristol City 44 12 13 19 49 -20
21 Fulham 44 11 15 18 48 -11
R MK Dons 44 9 12 23 39 -28
R Charlton 44 8 13 23 37 -38
R Bolton 44 4 15 25 27 -40
Latest F1 News
Latest Vital Boxing News

Recent Leeds Results (view all)

Leeds Fixtures (view all)

Apr 30 2016 3:00PM : Charlton Athletic (H)
Sky Bet Championship
May 7 2016 12:30PM : Preston North End (a)
Sky Bet Championship

Vital Members League Table

RankNamePoints
1.dazza71424
2.Tiny T132
3.deslondon99
4.SimonTVW73
5.Oyper59
6.King Billy58
7.bago46
8.Spanky White46
9.ultraleeds27
10.erni26