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.



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

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

Login to post a comment

Recent Leeds United Articles

LUFC Leeds United Loan Watch - February 20th-27th

Leeds United have six players out on loan at the moment and Vital Leeds is once again look at how the players are doing on their travels

LUFC On This Day - February 27th

A look back at what happened on this day February 27th in the history of Leeds United.

LUFC Silvestri Included In EFL Cup Team Of The Tournament

Leeds United goalkeeper Marco Silvestri has been included in the EFL Cup Team of the Tournament

LUFC Leeds United v Sheffield Wednesday Highlights

Highlights from the clash between Leeds United and Sheffield Wednesday

Archived Vital Leeds Articles

Vital Leeds articles from

Site Journalists

Dazza71
Editor email
Profile

Current Poll (see more polls)

Man of the Match v Sheffield Wednesday?
Suggested By:
Green46%
Ayling3%
Bartley3%
Jansson4%
Berardi18%
O'Kane3%
Bridcutt3%
Hernandez3%
Wood15%
Doukara1%
Sacko1%
ScoopDragon Publishing Entire League Network of Sites

League Table

# Team P W D L Pts. GD
1 Brighton 33 21 8 4 71 31
2 Newcastle 33 22 4 7 70 37
3 Huddersfield 33 20 5 8 65 8
4 Leeds Utd 34 19 4 11 61 12
5 Reading 34 18 6 10 60 2
6 Sheff Wed 34 17 7 10 58 9
7 Fulham 33 14 11 8 53 17
8 Norwich 34 15 7 12 52 11
9 Preston 34 14 10 10 52 5
10 Barnsley 34 14 8 12 50 4
11 Derby County 33 13 9 11 48 6
12 Cardiff 34 13 7 14 46 -2
13 Brentford 33 12 7 14 43 2
14 Birmingham 34 11 10 13 43 -13
15 Ipswich 34 10 12 12 42 -7
16 Q.P.R. 34 11 7 16 40 -11
17 Aston Villa 33 9 12 12 39 -7
18 Forest 34 10 7 17 37 -12
19 Burton 34 9 9 16 36 -13
20 Wolves 32 9 8 15 35 -5
21 Bristol City 33 9 6 18 33 -6
22 Wigan 34 7 10 17 31 -10
23 Blackburn 32 7 9 16 30 -13
24 Rotherham 34 4 5 25 17 -45
Write for Vital Football
Latest F1 News
Latest Vital Boxing News
The Vital Football Members League

Recent Leeds United Results (view all)

Leeds United Fixtures (view all)

Mar 3 2017 7:45PM : Birmingham City (a)
Sky Bet Championship
Mar 7 2017 7:45PM : Fulham (a)
Sky Bet Championship
Mar 11 2017 3:00PM : Queens Park Rangers (H)
Sky Bet Championship
Mar 18 2017 5:30PM : Brighton & Hove Albion (H)
Sky Bet Championship
Apr 1 2017 5:30PM : Reading (a)
Sky Bet Championship
Apr 4 2017 7:45PM : Brentford (a)
Sky Bet Championship

Vital Members League Table

RankNamePoints
1.dazza71257
2.deslondon127
3.Tiny T81
4.Spanky White64
5.@OxonWhite54
6.Oyper49
7.bago45
8.King Billy44
9.SimonTVW41
10.ultraleeds35
Vital Football Comment