Vital Football

Latest Leeds United News

Morris Makes Leeds United Bid

Morris Makes Leeds United Bid

Potential new owner Simon Morris tabled a bid on Saturday for Leeds United, offering the clubs creditors 40p in the £1 for the club, vastly improving on Ken Bates' offer of just 1p in the £1.

Morris is believed to have already offered £10m for the club, with a further £25m ready to invest coupled with a re-development plan for Elland Road and the surrounding area.

The statement, posted both online via saveleeds.com and via subscription e-mail read:

'Property developer SR Morris Group, which is bidding to buy Leeds United FC, has today (Saturday) offered creditors 40p-in-the-pound to win their support in the battle to takeover the club.

SR Morris has already tabled £10million to buy Leeds out of administration, topped up with a cash injection of £25million to stabilise the club`s finances. The company has a £400million redevelopment plan for Elland Road that will regenerate a key area of the city.

Creditors are currently being offered 1p-in-the-pound.

SR Morris chairman Simon Morris said: 'We believe creditors will see and understand the value in our offer.

'If we are successful in our bid to buy Leeds United, there will be 20p-in-the-pound for the creditors immediately and a further 20p-in-the-pound for them over a period of time.`

At an administrator`s meeting on Friday a recount was ordered after 75.02 per cent of the creditors voted to accept the 1p-in-the-pound offer.

The recount meeting is scheduled for Monday June 4.'


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
Writer:LUFC1
Date:Saturday June 2 2007
Time: 9:23PM

Login to post a comment

Recent Leeds Articles

LUFC On This Day -May 5th

A look back at what happened on this day May 5th in the history of Leeds United.

LUFC Leeds Announce Big Increase In Season Ticket Sales

Leeds United have sold over 2500 season tickets in the opening few weeks of sales for the 2016/17 season.

LUFC On This Day - May 4th

A look back at what happened on this day May 4th in the history of Leeds United

LUFC Striker Shortlisted For Fans Player of the Month

Leeds United striker Chris Wood is one of twelve Championship players shortlisted for the PFA Championship Fans Player of the Month for April

Archived Vital Leeds Articles

Vital Leeds articles from

Site Journalists

Dazza71
Editor email
Profile

Current Poll (see more polls)

Should Steve Evans stay?
Suggested By:
Yes91%
No9%
ScoopDragon Publishing Entire League Network of Sites

League Table

# Team P W D L Pts. GD
1 Burnley 45 25 15 5 90 34
2 Middlesbrough 45 26 10 9 88 32
3 Brighton 45 24 16 5 88 30
4 Hull City 45 23 11 11 80 30
5 Derby County 45 21 15 9 78 24
6 Sheff Wed 45 19 17 9 74 22
7 Cardiff 45 17 16 12 67 5
8 Ipswich 45 17 15 13 66 1
9 Birmingham 45 16 14 15 62 4
10 Brentford 45 18 8 19 62 1
11 Preston 45 15 16 14 61 0
12 Leeds Utd 45 14 16 15 58 -8
13 Q.P.R. 45 13 18 14 57 -1
14 Wolves 45 13 16 16 55 -6
15 Blackburn 45 12 16 17 52 -2
16 Reading 45 13 13 19 52 -5
17 Forest 45 12 16 17 52 -5
18 Bristol City 45 13 13 19 52 -16
19 Huddersfield 45 13 12 20 51 -7
20 Rotherham 45 13 10 22 49 -14
21 Fulham 45 11 15 19 48 -14
R Charlton 45 9 13 23 40 -37
R MK Dons 45 9 12 24 39 -29
R Bolton 45 5 15 25 30 -39
Latest F1 News
Latest Vital Boxing News

Recent Leeds Results (view all)

Leeds Fixtures (view all)

May 7 2016 12:30PM : Preston North End (a)
Sky Bet Championship

Vital Members League Table

RankNamePoints
1.dazza7163
2.Tiny T34
3.Spanky White20
4.Oyper19
5.deslondon16
6.bago15
7.SimonTVW13
8.erni13
9.King Billy5
10.Dublin White3