Date:Wednesday July 11 2007
Former Leeds United chairman Ken Bates has won the race to purchase the club following administrators KPMG`s decision to sell Leeds United outside of the CVA (Company Voluntary Arrangement).
With a number of bids reported to have been made, for some bizarre reason it is now Bates, who was targeted by Customs & Revenue for his 8p in the £1 offer to creditors who will re-take control of the club. Joint administrator Richard Fleming said: 'We received several offers for the business which we considered carefully. The approved deal represents the best result for creditors in the circumstances and we believe provides the club with the best chance of survival.'
The statement now appears to insist that this was the only option for the club, and that Bates was the best man for the job. It remains to be seen just what HM Revenue & Customs and every other creditor think of this deal that may see the clubs debts completely wiped out. Fleming added: "We understand this has been a difficult time for all those concerned about the future of Leeds United.
'This deal is a necessary step if the club is to have a chance of playing in League One in the 2007/08 season. We wish the club well in its endeavours to secure a transfer of the Football Share.'
The 'New Leeds' are expected to release a statement in due course.
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 email@example.com.
Date:Wednesday July 11 2007
Former boss says Redfearn will be a huge loss to the club (Friday May 22 2015)
LUFC Rovers latest club linked with released midfielder (Friday May 22 2015)
LUFC On This Day - May 22nd (Friday May 22 2015)
LUFC Wigan Athletic Fan View Of Uwe Rosler (Thursday May 21 2015)
LUFC Pearson looking at a positive future (Thursday May 21 2015)
LUFC Rosler - I have a point to prove (Thursday May 21 2015)
LUFC Rosler looking forward to great opportunity (Thursday May 21 2015)
LUFC On This Day - May 21st (Thursday May 21 2015)
LUFC Redfearn offered opportunity of academy return (Wednesday May 20 2015)
LUFC Leeds confirm appointment of Uwe Rosler (Wednesday May 20 2015)
|13. Sheff Wed||46||14||18||14||-6||60|
|15. Leeds Utd||46||15||11||20||-11||56|
|Boro mind games
» Norwich : 22/05/2015 21:13:01
|Mark Bunn Leaves City
» Norwich : 22/05/2015 20:52:01
|Former boss says Redfearn will be a huge loss to the club
» Leeds Utd : 22/05/2015 20:49:01
|Holt Fooled By Schoolboy Prank Call
» Norwich : 22/05/2015 20:23:00
|Rizespor Want Lafferty
» Norwich : 22/05/2015 19:42:01