Radz cannot do anything without GFH giving consent. Yes Radz owns 100% of the club but even if 100% board approval for a particular signing, still needs approval from GFH as any decision that could affect the future value of the club ....
yes i understood that to be the case last year when they still held shares.but would love to see what has happened since rads took over.guess hes the kind to keep thing in house.must say i amlooking forward to the first game at home.hope to meet a few more on here i have not met.
I said right from the outset that I don't know if Radz has dealt with the charge now that he's become sole owner. Only the terms it placed on the club.
Read the small print. They have to agree any changes that alter the capital value of the club.... Major transfers, buying back er and the like.... They effectively hold a power of veto but have no responsibility to contribute money to fund anything. Cellino was a dick again when he signed up to this onesided deal!
So buying back elland road is a problem ?.could understand the problem if we were about to do a bates and go bust.small change compared to prem money.im with rads victor.
lets start by getting a manager and doing the total rebuild now that monk has gone and half the squad will be following before thinking about the prem. Chesh I offer you the same top half/bottom half bet as last year right now.
Wakey mate, that's kinda the point I was trying to make. If I was a **** hot wealthy investor, why not just pay GFH their 17 million off and be done with them?
As I see it GFH have two choices, sit back and enjoy the repayments or try and stifle Radz, risk bankruptcy and lose everything. The whole argument is built around "can" and "if" the reality check is GFH are not going to poke their noses in. For starters, buying back ER would be a massive bonus for GFH the value of Leeds United would rise and suddenly we have collateral. Last season did we have a problem bringing in 12 new players, several of which had over £1m outlays? Were we forced to sell Taylor?? I would imagine the fee is a set one with no bonus or reduction for paying it off early.
Why would anyone buy back ER at a cost of x£millions to increase the value of the the club by the same amount and then have to pay a none contributing partner the original agreed loan fee plus a % of the increased asset value you have solely funded. If radz buys er in these circumstances he and the club will be bankrupt in months.
Where does it say repayments are based on the value of the club, as far as I am aware it is a set fee, not a fee dependent on the value of the club
They are just protecting their assets they will have zero objection to Leeds Utd increasing assets what must not happen from their point of view is rad shifting assets away from the club EG.an offshore company whereas the offshore company is worth all the capital and Leeds Utd under the 17m they have a charge on
OK.. I stand corrected. So no excuses for not buying the ground. Who was it that said on here that Cellino couldn't buy ER cos GFH would benefit without contributing? I shouldn't have believed them.