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 v Wolves - Over The Years (Friday October 24 2014)
LUFC Will Leeds slay the Wolves? (Friday October 24 2014)
LUFC Webb to take charge of Wolves clash (Friday October 24 2014)
LUFC On This Day - October 24th (Friday October 24 2014)
LUFC Tony Yeboah wonder strike worth wearing (Thursday October 23 2014)
Milanic wants motivated Leeds to claim the points (Thursday October 23 2014)
LUFC Leeds United v Wolves Team News (Thursday October 23 2014)
LUFC On This Day - October 23rd (Thursday October 23 2014)
LUFC Who should replace Doukara in attack? (Wednesday October 22 2014)
LUFC Cellino backs defender in race row (Wednesday October 22 2014)
|Leeds Utd||1||-||1||Sheff Wed|
|13. Sheff Wed||13||4||6||3||0||18|
|15. Leeds Utd||13||4||4||5||-3||16|
|Grant Holt To Stay At Hudderfield For Rest Of Year
» Wigan : 25/10/2014 00:15:00
|Early Team News - Derby v Latics
» Wigan : 25/10/2014 00:03:00
|What The Bosses Say - Derby v Latics
» Wigan : 24/10/2014 23:39:00
|Millers v Seagulls Preview
» Rotherham : 24/10/2014 20:05:00
|LUFC Leeds v Wolves - Over The Years
» Leeds Utd : 24/10/2014 20:00:00