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Leeds United Takeover Update No.87

Leeds United Takeover Update No.87

The fun that is the Leeds United administration saga took another turn as The Football League declined a request from the new owners of Leeds United for their football league share to be transferred, effectively allowing them to start again as a normal league club.

It appears that at the meeting arranged for Thursday morning that the clubs administrators KPMG failed to turn up with no reason given for their absence. This meant that a number of key pieces of documentation were not available and hence no decision was made. Simiarly The League have expressed some concern over the administration proceedings as a statement read: "Additionally, the Board expressed concern at the handling of the whole process by the administrators and the Chairman was instructed to obtain legal advice in that regard.


Clearly any further delays in this process will be frustrating for Leeds supporters. However, like the club's fans, the Board recognises the pressing need for certainty regarding the future of League football in Leeds and has agreed to convene at the earliest opportunity to re-consider the share transfer, once it has been provided with all the relevant information."

A statement on leedsunited.com today attempted to explain the situation. As it stands, Leeds United 2007 Limited own the entire club with the exception of the "football shares" which would allow it entry into League One, and that the documentation required by the Football League has now been passed on.

At least we can`t say it`s been a boring summer!



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Writer:LUFC1
Date:Friday July 13 2007
Time: 6:04PM

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