Date:Monday July 2 2007
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 firstname.lastname@example.org.
Date:Monday July 2 2007
LUFC Leeds United Transfer Rumours - Week Two (Sunday May 19 2013)
LUFC On This Day - May 19th (Sunday May 19 2013)
LUFC On This Day - May 18th (Saturday May 18 2013)
LUFC McDermott encouraged by club owners (Friday May 17 2013)
LUFC Byram in World Cup squad (Friday May 17 2013)
LUFC On This Day - May 17th (Friday May 17 2013)
LUFC Where do we most need to strengthen? (Thursday May 16 2013)
On This Day May 16th - Milan defeat still wrong (Thursday May 16 2013)
LUFC Pearce - Lees deserves his call-up (Wednesday May 15 2013)
Taylor: Everyone thinks Byram's off to Premiership (Wednesday May 15 2013)
|Leeds Utd||2||-||1||Sheff Wed|
|10. Derby County||46||16||13||17||3||61|
|13. Leeds Utd||46||17||10||19||-9||61|
|Gobern Signs New Terriers Deal
» Huddersfield : 19/05/2013 12:06:00
|No Novak Deal
» Huddersfield : 19/05/2013 12:04:00
|LUFC Leeds United Transfer Rumours - Week Two
» Leeds Utd : 19/05/2013 10:21:00
|LUFC On This Day - May 19th
» Leeds Utd : 19/05/2013 08:43:00
|Three-Year Deal For Winger
» Charlton : 18/05/2013 19:45:00
|BWFC: Fag-Packet Maths
» Bolton : 18/05/2013 18:22:00
|Danny Pens 2 Year Deal
» Millwall : 18/05/2013 16:30:00