Vital Football

Latest Leeds United News

Leeds United Takeover News

Leeds United Takeover News

The Leeds United official website have announced that, following a meeting with the Inland Revenue that the clubs creditors will now receive a much improved offer, taking the deal to 8p in the £1 from the original 1p.

The original payment from the group fronted by former Chairman Ken Bates was set at 1p in the £1, which was deemed unacceptable by a large proportion and with rumours of a Government-level objection cropping up it now appears that Bates has moved to safeguard his takeover of the club.

A statement, released on the official website suggests now that any move to block Bates` takeover of Leeds United will be on a personal or political scale, rather than the commercial viewpoint that was taken by those who did not support the original offer.

The statement, in part, reads; "After meetings with the Inland Revenue the administrator has negotiated an improved offer to the creditors of Leeds United, offering them a further amount equal to approximately 7p in the pound.

This will take the total to approximately 8p in the pound. The original agreement also included provision for a further £5m payment to creditors (approximately 30p in the pound) should the club reach the Premier League within the next five years.

This period of time has now been extended to 10 years. This payment compares favourably with dividends paid by other football clubs that have been through the Administration process and with any offers that the Administrators received prior to approval of the CVA."



Join Vital Leeds United!

It's very easy to sign up with Vital Leeds United, simply click the link and enjoy getting involved.

The Message Board: .After you've registered, you will be able to interact with other Leeds United supporters via our forums. To visit the Vital Leeds message board, click here.

Have your say: This website is your website and we are looking for people to help contribute to the site. Do you go to most of the games and want to share your opinions. Why not write a match report?

Do you believe you can make a better half-time pie than the clubs catering contractors? Well write in with a recipe!

We`re looking for contributors to add almost anything and everything linked with the club to Vital Leeds United. To get in touch with us, please feel free to fire an e-mail to leeds@vitalfootball.co.uk.

EURO 2016 COMPETITION - WIN A 2016/17 SEASON REPLICA SHIRT!

Writer:LUFC1
Date:Monday July 2 2007
Time: 5:08PM

Login to post a comment

Recent Leeds Articles

LUFC Leeds Face Competition From Bundesliga Side For Winger

Leeds United could face competition from German Bundesliga side SV Hamburg for Anthony Limbombe according to reports coming out of the Netherlands

Leeds Face Tough Competition For International Defender

Leeds United face competition from the Premier League and the Championship for Reading full-back Chris Gunter

LUFC Dundee Duo Will Cost A Minimum Of £1M Each

Leeds United have been told they will have to pay at least £1m each if they are to lure Greg Stewart and Kane Hemmings away from Dundee

LUFC On This Day - June 25th

A look back at what happened on this day June 25th in the recent history of Leeds United

Archived Vital Leeds Articles

Vital Leeds articles from

Site Journalists

Dazza71
Editor email
Profile

Current Poll (see more polls)

First day game?
Suggested By:
Home game43%
Away game57%
ScoopDragon Publishing Entire League Network of Sites

League Table

# Team P W D L Pts. GD
C Burnley 46 26 15 5 93 37
P Middlesbrough 46 26 11 9 89 32
3 Brighton 46 24 17 5 89 30
4 Hull City 46 24 11 11 83 34
5 Derby County 46 21 15 10 78 23
6 Sheff Wed 46 19 17 10 74 21
7 Ipswich 46 18 15 13 69 2
8 Cardiff 46 17 17 12 68 5
9 Brentford 46 19 8 19 65 5
10 Birmingham 46 16 15 15 63 4
11 Preston 46 15 17 14 62 0
12 Q.P.R. 46 14 18 14 60 0
13 Leeds Utd 46 14 17 15 59 -8
14 Wolves 46 14 16 16 58 -5
15 Blackburn 46 13 16 17 55 0
16 Forest 46 13 16 17 55 -4
17 Reading 46 13 13 20 52 -7
18 Bristol City 46 13 13 20 52 -17
19 Huddersfield 46 13 12 21 51 -11
20 Fulham 46 12 15 19 51 -13
21 Rotherham 46 13 10 23 49 -18
R Charlton 46 9 13 24 40 -40
R MK Dons 46 9 12 25 39 -30
R Bolton 46 5 15 26 30 -40
Latest F1 News
Latest Vital Boxing News

Recent Leeds Results (view all)

Vital Members League Table

RankNamePoints
1.dazza71173
2.deslondon137
3.Tiny T103
4.Oyper74
5.King Billy36
6.erni33
7.SimonTVW16
8.Salazzar13
9.1972Glory12
10.PDIRISH11