Latest News - Bates Hanging On

Right, latest info I have is that one of the key points of discussion, and why things have dragged on a bit is that Bates wants investment only, and therefore wants to retain a majority share of 51% in Leeds Utd. This is causing an impasse, as the investors want to have the majority so they can make the future decisions.

With Bates seemingly determined to hold on to the majority share, there is a real threat that talks could break down and Leeds could lose their opportunity to supply Warnock with the financial assistance he needs to build his squad.

Bates is clear at this point that he only wants a cash injection in return for a minority share, but the different investor groups all seem keen on a majority share which will allow them to fund a team capable of winning Prem Lge status and thereby giving them a massive return on investment. Bates knows that if he can hang onto the majority AND get investment in the squad that gets Leeds to the Prem, he can then sell off a portion of his shares for a lot more than he is being offered for a complete takeover right now.

The catch is that Bates needs investment right now to push Leeds on, and he can't afford no promotion at the end of the new season, which is why he went full on financially with Warnock's contract. Leeds now have the highest paid manager in the Championship for a reason - Bates needs promotion. That was part one of the plan.

Part two was to then attract investment in the club to fund a squad for Warnock, which is why Elland Road is not batting an eyelid at the possibility of Snods, McCormack and Clayton being sold. They know that there will be enough cash to bring in players potentially better to replace those sold - if the investors sign up.

However, there now seems to be a bold move by investors to grab a majority as they now understand that Bates is in a bit of a corner, but he is reluctant to authorise such a deal as he knows he can get plenty more once Leeds get to the Prem. Bates will go the day Leeds win promotion, because then the goose will have laid the golden egg and he can move on with millions in his wallet.

I will update once I get more info. Oh, and Phil Hay, please don't use this to jazz up your pathetic attempts at reporting. I sat next to you at the Hull City 2-2 game when their captain Asbo clobbered Becchio with a cheap elbow shot, and frankly, you are a muppet!!!

 

Who told you all this Billy?

 

Unfrotunately, Billys, I can't see us getting promoted this season. So Bates strategy will fail, we will have attendances much too low, and he will lose more money. So his best option is to sell the majority. Or just sell up full stop.

I seriously think he is deluded, and is suffering from early signs of dementia.

Then again, please tell us why we should believe your story? It sounds very plausible, and your sitting next to Phil Hay suggests you may be in the journo trade?

 

All this is guess work. Put together from various rumours i presume...

 

Promotion

You need a big cash injection just to be able to stay up

 

BS by name, BS by nature. All the signs are that Bates is selling of his own free will.

Although the Phil Hay thing does sound interesting... why was he not in the press box and what was he doing so wrong?!

 

I really don't have time to make up stories, Bates not keen to give up majority, wants a cash injection to get Leeds to Prem. I was in press box that night JI. There are three "investors" as I understand who have spoken with Bates, he is pushing for best deal that suits him, but his cashflow issues may force his hand. As for his health, nothing has been said on this so I can't comment. For me the best thing would be he sells up completely, but if I had to guess I'd say he may sell a majority and keep a nice chunk to cash in when Leeds get to Prem. Worst case is he ****s it all up and we start the season with the same situation before he invited investors to talks.

 

With Bates track record (not just with us but with business in general) this all sounds plausible and exactly what we all feared. The only thing that doesn't fit is the story that one group in particular was in the "advanced stages" of negotiation. I suppose it's open to interpretation what that means but I would have thought Bates digging his heels in and refusing to sell his majority share when the investors insist on a majority is far from "advanced" as it means the potential investors could simply walk away. Or am I just being naive ?

 

Wicksy, I haven't been told about any single one being in advanced stages. All that will probably mean is that a particular party are up for buying a minority share.

 

I'm not saying you've said that Billy, it's what I've heard from various sources over the last few days.

 

I know Wicksy, just saying not been told but that doesn't mean it isn't so

 

Have asked about Lowy but no confirmation except that if his interest is there he will be the fourth investor to come forward. Only thing I was told is that he left Sydney FC in the red, but what does that mean? Aus football doesn't attract same money as England. I like Josh's story linking Lowy, but can't see him settling for anything less than a majority share in Leeds. Spices things up a lot!!

 

If I remember right last time he was mentioned some digging was done & he didnt look like the kind of bloke you would want around your football club. Could be wrong but I'm sure it was alarm bells last time

 

Right, been told no truth in Lowy coming to buy Leeds. He lost money at Sydney and not keen on Leeds at this time, so still only three parties in talks. Come on Harvey, get your finger out you noob!!!

 

I think that BATES will have to do something this time he has been foung out for what he is and I hope he takes lapdog and Harvey with him toa club in the ukraine and call theirtfans morons !

 

The key is does Bates want to sell up completely or keep a majority share?

 

Whatever happens or doesn't happen, we need to remember just What Bates did to Abramovitch. Look at the similarities of whats happend recently .....

New shares issued to unknown person(s) worth a fortune for only a few quid.
Redevlopment work on something you don't own (maybe)
A bunch of shell companies set-up with links to Leeds Utd, but all offshore registered.
A white elephant digital radio station that runs at a huge loss every year (supposedly)

Money is moved around between these companies, so a real forensic accountant would have trouble getting to the real numbers.

Bates sold Chelsea football Club to Abramovitch, and also another couple of shell companies. Once the deal was done the Russians found out that although they owned the club, they didn't own the ground. The ground had been sold a few weeks earlier to another shell company based in Jersey, and the owners were none other than ken Bates, Partick Murrin and Mark Taylor. You know who these 3 are don't you? ...... The ground was now part of another company called Chelsea Sporting Club, and Abramovitch was fuming as the initial documents he'd seen still had the ground as part of the company. Bates, Murrin & Taylor had done it legally and Abramovitch was forced to spend another £20m for the ground and ownership of Chelsea Sportin Club.

So there you go, not an easy bloke to deal with, and a wide boy who's never been caught. How many different companies are now part of Leeds utd Group, 15 or 17 at last count. Bates will want top dollar to sell all his shares, because he knows that by clinging on the share value will rocket once the club are back in the premiership. To get it all these people will need to push the boat out, give in to him or walk away. If a deal collapses then we'll all know the reasons why, and it won't be 'they couldn't come up with the money and were not real investors'.

 

Doc, this makes sense and why I fear Bates is holding out as much as he can.

 

Abramovitch should have followed through with his threat to have him shot.

 

Bucks The story goes that Abramovitch threatened to shoot the people he employed to carry out the Due Dilligence - got to get out of bed early to catch Bates/Murrin/Taylor.

If Matthew Harding hadn't have died suddenly, Chelsea would have had either a new chairman or would have gone bust. The Harding money Bates got built the club up, and the rest was used to form Chelsea Village and Chelsea Harbour. In fact Mark Taylor still has Chelsea Village as his main office, even though he's a director of leeds Utd and the clubs solicitor. Partick Murrin told the FSA that he was willing to stand down as a financial advisor, so that they wouldn't prosecute him for deals he'd done over here, and the USA where the FBI were chasing him and Bates. As you know Murrin was/is a shareholder of FSF, and Teak Trading and probably Outro, as well as all the other offshore shell companies . he's supposed to be officially retired ...... also heavily involved with the other mate who owns ER and TA ..... fooking can of worms, would anyone do business with these bandits