Leeds - A Little Clarity
UK time is: 14:11:44
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

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.


Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



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

The Journalist

Writer:  Mail feedback, articles or suggestions

Date:Monday May 7 2007

Time: 8:08PM

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Leeds Articles

Archived Leeds Articles

List All Vital Leeds Articles
Have your say
Click here to suggest an article
Click here to suggest a poll
ScoopDragon Publishing Entire League Network of Sites

Vital Members League (view all)

1. dazza71 33
2. Tiny T 17
3. King Billy 15
4. Oyper 14
5. erni 8
6. chuffinnora21 7
7. PDIRISH 4
8. bago 3
9. 1972Glory 2
10. SimonTVW 1

League Table (view table)

Team P W D L GD Pts
13. Huddersfield 0 0 0 0 0 0
14. Hull City 0 0 0 0 0 0
15. Ipswich 0 0 0 0 0 0
16. Leeds Utd 0 0 0 0 0 0
17. Middlesbrough 0 0 0 0 0 0
18. MK Dons 0 0 0 0 0 0
19. Preston 0 0 0 0 0 0

Leeds Fixtures (view all)

Breaking League News

Now is a Time for Realism
Birmingham : 07/07/2015 13:51:01
LUFC Released keeper having Bradford trial
Leeds Utd : 07/07/2015 13:38:01
RUFC - Rayns 'The Future Is Looking Bright'
Rotherham : 07/07/2015 13:37:01
Koby Arthur Poll Result
Birmingham : 07/07/2015 12:48:01
Watch: Blues Marbella Training
Birmingham : 07/07/2015 12:36:00

Current Site Poll (view all polls)

Where do we still need to strengthen?
Suggested By:  
Goalkeeper 4%
Central defence 6%
Right full back 1%
Left full back 1%
Midfield 7%
Wingers 79%
Striker 2%