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!!!
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!!!
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.