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 On This Day - July 23rd (Wednesday July 23 2014)
Hitman Hearn delivers knock out blow to Leeds (Tuesday July 22 2014)
LUFC Leeds right to pull out of deal for defender (Tuesday July 22 2014)
LUFC Leeds United Team v Mansfield Town (Tuesday July 22 2014)
LUFC Leeds linked with experienced international (Tuesday July 22 2014)
LUFC On This Day - July 22nd (Tuesday July 22 2014)
LUFC Leeds in talks with Roma midfielder (Monday July 21 2014)
LUFC On This Day - July 21st (Monday July 21 2014)
Leeds to meet with highly rated French striker (Sunday July 20 2014)
LUFC Hockaday ready to give youngsters a chance (Sunday July 20 2014)
|15. Leeds Utd||0||0||0||0||0||0|
|£10m Medel Offer From Galatasaray
» Cardiff : 23/07/2014 14:03:00
|Offical - Leicester amp; Palace Bids For Campbell
» Cardiff : 23/07/2014 13:57:00
|Norwich Reject Fer Bid
» Norwich : 23/07/2014 12:36:00
|RUFC - Worrall Joins Shrimpers
» Rotherham : 23/07/2014 11:56:00
|Filling the Juke's shoes
» Bolton : 23/07/2014 10:02:00