http://www.dailymail.co.uk/sport/fo...nal-GFH-shares-sole-control-Leeds-United.html I believe Cellino bought them out to get rid of'em, the charge is an agreement made between Cellino / LUFC and GFH, basically it's money owed to GFH......
They own 0%. They are owed 17m by the club. FFS its very straight forward. gfh agreed for the 17m to be repaid over 13 years. But quite rightly to protect themselves there is an agreement that it becomes due immediately if cellino sells because cellino could sell to any old tom Dick or Harry who would bust the club and Gfh would never see their money. Gfh may or may not come up with the same deal with radrizani
what is the 17m for ? is it for their 25% ? has it been paid back in full ? if not then they still own them till such time
The 17mill is a debt owed by Cellino/LUFC. GFH loaned LUFC 30mill I believe it started out as (it was a con job) has nothing to do with Cellino buying them out.
It's a loan that the club owes them. It's not for their 25%. It's for management charges they lumped on during their "stewardship". Cellino paid them for their 25% they own no equity in the club
no they don't, they are owed money, just like a person or other business owes a bank money. Legally, Cellino bought out GFH's 25% shares, which is separate to the money owed. The money owed to GFH by Cellino/LUFC is a debt that both parties agreed when it should be paid back. Stop winding everyone up Mighty.......
A) not til its paid back in FULL. if 2m is paid back they only own 15m. B) they don't own anything of leeds United, they have no votes no power to make decisions. They are just owed money like every club in the country owes someone some money. Next?
Mighty, go on companies house, 50% owned by Eleanora sports (Cellino) Finally you got there, it is a charge on the club, and as I understand it a variable charge, which means it remains regardless of who owns the club therefore can do nothing to stop Radz buying out Cellino. Where it is a problem is if the club wants to increase the value of it's the company assets i.e. buy back ER and TA where the club need to seek the agreement of GFH or pay them back in full before the purchase. It doesn't affect the club getting sponsors on board through it's marketing.
mukka i can buy a car on HP and register it in my name wont belong to me till i make the final payment and charge lifted Rad buys cellinos 50% the whole debt belongs to him simples theres your problem
I know that, but you were suggesting that GFH own part of the club, which clearly they don't. The club owe them money, which it is paying back. My point is the article is rubbish silly season crap.
