Leeds - Bates' Offer for Leeds 'Derisory'
UK time is: 12:27:54
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

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

Bates' Offer for Leeds 'Derisory'

Former Leeds United chairman Gerald Krasner has accused the current major shareholder Ken Bates as making a "derisory" offer to pay off those creditors who are seeking remuneration.

After Leeds slipped into administration in the week leading up to the last match of the Championship season, Bates has made an offer to re-purchase the club, by offering a dividend of 1p in the pound. This has been deemed unsuitable by Krasner, who has offered to use his experience in corporate insolvency free of charge in order to make sure that Mr Bates will not return as owner of the club.

'Effectively, he will have bought the club back debt free for approximately £500,000, including professional costs.

'Quite frankly I consider this offer utterly derisory and unless you agree with this proposal, it is up to you as a creditor to make your voice heard.' Krasner said.

He went on to explain his reasons behind the free help offer:

"I have had a lot of approaches recently from fellow professionals, acting either for creditors or for third parties, who wish to invest in the club, but do not want to deal with Mr Bates…

…'It is unlikely that most of you will want to spend the money to take the necessary professional advice on what is a very complex topic.

'I have, therefore, decided in my capacity as a licensed insolvency practitioner to offer to assist you absolutely free of charge.

'So if you are a trade creditor, a football creditor, a footballer, a season ticket or debenture holder then please get in touch.'

Says it all really, we have highly experienced professionals who have saved the club before offering their vast experience free of charge to keep Ken Bates away from ruining our club all over again. Other clubs throughout the league have been replacing their ageing chairman with the next generation. Only the likes of Bates and Freddie Sheppard survive, lets help to eradicate these money men from the club we love.



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: LUFC1 Mail feedback, articles or suggestions

Date:Friday May 18 2007

Time: 1:30PM

 

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 313
2. deslondon 94
3. SimonTVW 69
4. Tiny T 65
5. King Billy 52
6. erni 50
7. Spanky White 45
8. Oyper 42
9. bago 16
10. 1972Glory 15

League Table (view table)

Team P W D L GD Pts
12. Charlton 46 14 18 14 -6 60
13. Sheff Wed 46 14 18 14 -6 60
14. Forest 46 15 14 17 2 59
15. Leeds Utd 46 15 11 20 -11 56
16. Huddersfield 46 13 16 17 -17 55
17. Fulham 46 14 10 22 -21 52
18. Bolton 46 13 12 21 -13 51

Breaking League News

RUFC - Millers Duo Turn Down Deals
» Rotherham : 22/05/2015 12:17:01
Latics Snap Up Walsall Keeper Richard O'Donnell
» Wigan : 22/05/2015 11:49:01
Audio - Madine Speaks on Wednesday Exit
» Sheff Wed : 22/05/2015 11:49:01
Neil: Don't Have Any Regrets
» Norwich : 22/05/2015 10:00:00
Young Keeper Could be Birmingham No 2
» Birmingham : 22/05/2015 09:32:01

Current Site Poll (view all polls)

Are you happy with the appointment of Uwe Rosler?
Suggested By:  
Yes 64%
No 36%