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Leeds United Sold To Ken Bates

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.



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The Journalist

Writer: LUFC1 Mail feedback, articles or suggestions

Date:Wednesday July 11 2007

Time: 4:00PM

Your Comments

Kinda useful when you consider it's Bates' consortium that currently hold the season ticket money!
LUFC1
Wow. Now you guys are totally screwed. But at least you haven't been liquidated. But two more years of Bates and something far more interesting will probably happen. The man is as crooked as the sky is blue.
505anthony
That man is a wiley old Fox. I actually thing things will take a turn for the better. What does your Supporters Trust make of all this?
greyhound
I actually feel sorry for Leeds fans.This man is as crooked as they come.He has not fought dirty for the good of your club,but probably because he has something up his sleeve that will only benefit one person.Bates.
SweetLeftFoot
When it came to dipping into administration the man was an absaloute genius to exploit a league loophole. Perhaps you sweetleftfoot should concentrate on your own dodgy deals with the man named after a car!
LUFC1
Don't start defending him now.You will only end up with egg on your face.
SweetLeftFoot
Or fish fingers maybe...how is your Tevez deal going ;)
LUFC1
Don't worry about Tevez son,he will sign,or he wont.You have other things to think about.You know sometimes you really do show your age.I'm guessing about 18 or 19.
SweetLeftFoot
as much as i didnt want him in we cant change the fact that he has been chosen and to be honest i really dont know what to think to this, he seems to have the club at heart i justhope that his new company tbat are running us have the money to keep us stable now
Super-Leeds
I think Ken is due a change in fortunes.......at least he is in there battling for the club.......he could have thrown in the towel and walked away.....but I think there are a few more lows to come for you guys before it turns around.....Good Luck...!
horseworrier
He would be only suitable one at this time.
tedpowelluk
he worked wonders for chelsea. he fought their corner and kept them at stamford bridge. however the club was in serious debt towards the end of his reign and if he hadnt of sold to abramovich then god knows where the club would be now. if bates can keep you afloat for a couple of seasons and maybe even get you promoted then you never know - a rich benefactor might buy the club off of him again - another roman abramovich. bates made 17 million when he sold chelsea. perhaps he's banking on a similar scenario with leeds.
Dales_Dad
i think its the right choice
Mr God
Could be better the devil you know I suppose
herringthorpe
I have to agree with Dales Dad when he took over at Chelsea they was in as bad a state as Leeds. We have to remember that he's already saved Leeds once. We all know he's as crook but he won't be f****d about by anybody and he will not stop until he's got some sort of return from the club.
dazza71
yes i agree with dales_dad aswell youve got it spot on there also dazza youve got a gd point there
Super-Leeds
You have all put on the blinkers provided to you by Master Bates.He is a crooked old man who is going to leave you without a club to support.Do not get taken in by him.
SweetLeftFoot
 

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