Date:Thursday May 17 2007
The administrators working on Leeds United's financial troubles, KPMG, have had three bids for the club brought to their attention. The deadline for any fresh bids appears to have past. Here's a run down of where the future may lie for the fallen giant.
The Bates Bid. The club were immediately bought back (subject to creditors confirmation) from the administrators by a group led by Ken Bates. This prompted furious reactions from various consortia wishing to speak to the administrators on a level playing field. With the deal all but signed, both Bates and the outside investors have their own viewpoints on the matter. The future under this management is unclear. Bates has already said he has not taken a single penny out of the club, but has not been seen to heavily invest either.
The Revie Bid. The son of Leeds legend, Don Revie has been working hard to construct a rival bid. Duncan Revie has in recent weeks been very vociferous in his views both on current and future management of the club. Any bid would be backed by Middle Eastern money, but the likelihood of this coming to fruition dwindles as the days pass by. It is unclear where any long term future under Revie junior would go and even if the bid itself is real.
The Simon Morris Bid. Property magnate, Simon Morris, has tabled a firm bid with KPMG. The former Leeds director has played up his role in turning Elland Road into '£400m World-Class leisure venue.' With a bid of £10m for the club and a promise of £25m to re-invigorate the club, this appears to be a realistic and costed rival to the Bates bid. Bates himself question why he didn`t invest when he had his directorship under Gerald Krasner, but in reply why would someone invest in such a debt burden club. With Leeds finances set to be all but wiped out, the investment future looks good.
My View. KPMG have to look at the future both for the club and the current creditors. Under Ken Bates, the future looks like being a very long and drawn out one. We need serious money now to mount a return challenge to the Championship. The creditors would receive less return for their current investment, but would still be involved in the club should our fortunes change in years to come. Under Morris/Revie, the future would be very unclear. Talk is cheap. Any future for the club starts building next season. LUFC will dictate how successful the area around Elland Road will be, on the field. Any new management team coming in must realise this, and this is why KPMG must listen to the fans and consider the future of the club.
Join Vital Leeds
To visit the Vital Leeds message board, click here.
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.
Stats: Huddersfield Town v Leeds United (Saturday January 31 2015)
LUFC Leeds team to face Huddersfield (Saturday January 31 2015)
LUFC Bamba to set Leeds on their way? (Saturday January 31 2015)
LUFC Huddersfield Town v Leeds United - History (Saturday January 31 2015)
LUFC On This Day - January 31st (Saturday January 31 2015)
Do you think Leeds will complete a rare double? (Friday January 30 2015)
LUFC Premier League Referee to take charge (Friday January 30 2015)
LUFC Pearce on why he had to leave unstable Leeds (Friday January 30 2015)
LUFC Pearce completes move to Wigan (Friday January 30 2015)
LUFC Leeds set to miss out on striker (Friday January 30 2015)
|Derby County||2||-||0||Leeds Utd|
|21. Leeds Utd||27||7||8||12||-10||29|
» Rotherham : 31/01/2015 23:16:00
|RUFC -Hall Becomes A Hatter
» Rotherham : 31/01/2015 22:58:00
|Millers Earn A Point At The Valley
» Rotherham : 31/01/2015 22:36:00
| Karanka salutes another win
» Middlesbrough : 31/01/2015 21:46:00
|Boro sting Bees
» Middlesbrough : 31/01/2015 20:53:00