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 firstname.lastname@example.org.
Date:Wednesday July 11 2007
LUFC On This Day - 25th May (Saturday May 25 2013)
LUFC Lees ready to fight for place in side (Friday May 24 2013)
LUFC Green in final Ireland squad (Friday May 24 2013)
LUFC Austin given a rest in Tottenham draw (Friday May 24 2013)
LUFC On This Day - 24th May (Friday May 24 2013)
LUFC Former defender retires (Thursday May 23 2013)
LUFC McDermott - Byram wants to stay (Thursday May 23 2013)
LUFC Capital One League Cup (Thursday May 23 2013)
LUFC On This Day - May 23rd (Thursday May 23 2013)
LUFC McDermott making progress (Wednesday May 22 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|
|Boro track Pools ace
» Middlesbrough : 25/05/2013 16:36:00
|Opposing View: Crystal Palace
» Watford : 25/05/2013 14:00:00
|The Vital Forest Fan Interview: Woody
» Forest : 25/05/2013 13:09:00
|Prison warders among Deeney's Wembley guests
» Watford : 25/05/2013 12:45:00
|Will there be Trouble at Mills?
» Burnley : 25/05/2013 12:42:00
|Sammon Aims For More Goals
» Derby County : 25/05/2013 12:00:00
|LUFC On This Day - 25th May
» Leeds Utd : 25/05/2013 09:42:00