http://www.leedsunited.com/news/20120626/a-club-statement-on-investment_2247585_2823554 EDIT: As simon says this must be someone buying at least 30% of the club Bates owns roughly 73%, so if its he share being sold he would no longer be in control.
Should be noted that the fit and proper persons test only applies to someone buying at least 30% of shares.
There could be an element of truth in what Billy was hearing though; apparently Ken only wanted investment but the "investors" insisted on a takeover, that's what the hold up was, promisingly it seems it was the "investors" who got their way in the end.
Time for everyone to stop spreading rumours from mates or inside ER stuff, the fact is this will be completely confidential and no other parties will be informed of anything, especially not the media, players, ground or kitchen staff. Let's sit and wait for the final outcome, as it will be then and only then when we know what is going to happen.
Except claiming that no-one knows anything is just as much bollocks as claiming to be ITK when you're not. No doubt a very tight seal is on proceedings, but I very much doubt air tight.
There is a huge difference between inside information on players and the business of the club, hence I would suggest that there is little or no chance of anybody outside of the working groups involved that knows anything about the investment. There will of course be those who hear things from "inside" people, but business rumours are just that, usually made up by someone and later to be proven wrong.
Guys, still not a takeover but a chunky slice of Bates' shares. Correct on the 30% requiring League scrutiny and approval. Due dilligence is to sift through Bates' stuff, so the "straight forward" comment is a bit of a worry. Ken has been forced to sell more than he wanted to. I so hope that the investors up the ante and improve the offer to take full control. However, Bates won't have sole control anyway once the deal is done, and we know from experience he doesn't share power very easily. Please oh please give him what he wants to walk away!!!!!!
I know Bates wanted to sell less, investors wanted total takeover. Bates has been holding out, and now obviously a compromise has been reached for investment. Of course, investment can still become a takeover depending on how much cash is put on the table. Most important point is Bates has blinked, and for me that's a positive start. There will be a buyout at a later date option, but we'd all have it now!!!!! Finally someone has shown Bates the money and he is forced to deal because he's run Leeds poorly, and lost money. His track record is piss poor, and he knows he can't chance another season of failure. Other peoples' money always appeals to Cuddly, let's hope they force him out completely. At least he won't be able to simply suck the club dry anymore. Oh, and there is another party involved, but they've been benched for now while the deal get's checked financially, so its not done just yet.
LUST saying that because of information they've received they are confident it's a takeover. We might find out who it is within the next 48 hours.
LUST said at their meeting it was a takeover not an investment, nobody knows anything and does it really matter deep down? Which Leeds fan would not have took even a 4-5 million cash injection into the club for new players on the last day of the season? Full takeover = Great new owners and can't be worse than Bates 30% purchase in = Great money for new players and at least we have 'someone' who might just buy Bates out one day and still a step nearer to new owners. I also fail to understand why LUST are answering questions when they have no more news than the next person
Why have they put that last bit there? "We will not be making any more announcements in the near future" Are they expecting it to take months? How many other takeovers have you seen where the interested party asks for a "confidentiality clause" Maybe it is Charles Green trying to get Rangers Newco through the back door to English football Or maybe Larry Tenenbaum liked what he read wih WATTS' due diligence
Seriously what person would put in vast amounts of money (above 30% but below a majority share) just for bates to blow it on hotels?. I can only see a takeover billy
Raising its head TC.?. Your worst nightmare ay.The Leeds massive with money. Don't worry too much m8,Millwall don't have any players we want,and took all 6 points without money,so no change.
