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ellandback

ellandback

Well-Known Member
Forum Moderator
Mar 30, 2011
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Southampton
Morning Everyone

They say 24 hours is a long time in politics, well........three months is a long time to be in charge of a football club (apparantly).

That right folks, it looks like Haigh and Patel have had enough!!! Accounts published last month by GFH Capital's parent, Bahrain firm Gulf Finance House show they are preparing a swift exit.

Was this always going to be the case? Was it always going to be a quick turnover, for a small profit. I say small profit, the figures being banded around show a 10m profit....

I suppose business is business , but can't help feeling a blittle bit used by this everlasting drama.

There are lots more questions than answers at this stage!

Who owns Elland Road and Thorp Arch?

Do Leeds have any debts?

Is there a buyer lined up?

How long will it take?

Will it effect our buying power during the Summer?

Did GFH ever indicate there were in it for the long haul?

Song of the day, and what a classic....

[video=youtube;1WhhSBgd3KI]http://www.youtube.com/watch?v=1WhhSBgd3KI[/video]
 
Morning all, another long summer ahead with the rumour mill in full swing I fear. I was glad to see the back of Bates, I will be equally as glad to see the back of GFH
 
ellandback said:
Blimey, GFH paid 22m for the club, and value it at 52m now.....
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Bates was a drain on the company to the tune of £30mill obviously. You just know he will have a sell on clause that will give him a %age of the eventual selling fee.
A Beckham/ Owen/ Pearson consortium anyone?
 
Morning all. Was obvious for quite a while how limited GFH actually are in terms of financial clout and football knowledge. Some chose to not to believe the obvious, so be it. The next sale will be equally as important as the previous one with bates. gfh have mentioned the sale will be in the next six to twelve months. That would be a disaster. Another twelve months of limbo, **** football and another new manager with not a clue what resources he will have. This whole fiasco needs to be tied up by the season end and hopefully our new owner will have deep pockets to rebuild to the extent required. As to the question Elland, have we still debt? Of course we have.Thats why three million a year of season ticket sales is gone. I call that debt but of course fancy dan accountants find different names for it. Regardless what gfh said, I would take with a pinch of salt. I believe they've said whatever bates needed to hear to get the deal done and then whatever would keep the fans onside. I sincerely hope they are not here for the long haul
 
ellandback said:
Morning Chippy,

What a scary thought <yikes>
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Talking of scary thoughts, if GFH are selling, replacing Colin is not going to be anywhere near the top of their agenda.
More importantly, what manager in his right mind would join a club that is seeking new owners?
Southgate and McClaren are about the only two that spring to mind.
 
Eireleeds1 said:
Morning all. Was obvious for quite a while how limited GFH actually are in terms of financial clout and football knowledge. Some chose to not to believe the obvious, so be it. The next sale will be equally as important as the previous one with bates. gfh have mentioned the sale will be in the next six to twelve months. That would be a disaster. Another twelve months of limbo, **** football and another new manager with not a clue what resources he will have. This whole fiasco needs to be tied up by the season end and hopefully our new owner will have deep pockets to rebuild to the extent required. As to the question Elland, have we still debt? Of course we have.Thats why three million a year of season ticket sales is gone. I call that debt but of course fancy dan accountants find different names for it. Regardless what gfh said, I would take with a pinch of salt. I believe they've said whatever bates needed to hear to get the deal done and then whatever would keep the fans onside. I sincerely hope they are not here for the long haul
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rep
 
Morning all. Can't see the song of the day. Computer says no!!

On yet another takeover, we'll still be better off than Portsmouth.... hopefully!!!

On the finer points, DILLIGAF!!!
 
Morning all.

Ristac, you had a pop at me last night on another thread when I suggested that this was always the plan. I'll try and make my comments a bit more clear:

We all knew that GFH were fronting a takeover last summer, but because the main backer refused to deal with Bates he pulled out. GFH knew they were onto a good thing and the opportunity to do something with the club was too much of a temptation, as they know for a fact that Leeds Utd is the last great investment in English football, and has been held back and raped by Bates. GFH who had already spent a lot of their own cash whilst trying to do the deal, decided to stay with it and do it themselves, knowing that once it was completed they would hold a valuable asset which was now clean and above board with no hidden dangers. They are an investment bank and took an investment decision to do it alone. They can now see value in either selling on the majority of the shares to a proper buyer and keep a % of shares until the club reaches the prem. The valuation of the club will have increased simply because Bates is not around. If an attractive offer comes in for the whole of the club they'll move it on and make cash now instead of in the future.

I think a deal will be done before the summer and new owner, manager and funds in place, because whoever takes the club on will want to see immediate progress :emoticon-0150-hands
 
Doc said:
Morning all.

Ristac, you had a pop at me last night on another thread when I suggested that this was always the plan. I'll try and make my comments a bit more clear:

We all knew that GFH were fronting a takeover last summer, but because the main backer refused to deal with Bates he pulled out. GFH knew they were onto a good thing and the opportunity to do something with the club was too much of a temptation, as they know for a fact that Leeds Utd is the last great investment in English football, and has been held back and raped by Bates. GFH who had already spent a lot of their own cash whilst trying to do the deal, decided to stay with it and do it themselves, knowing that once it was completed they would hold a valuable asset which was now clean and above board with no hidden dangers. They are an investment bank and took an investment decision to do it alone. They can now see value in either selling on the majority of the shares to a proper buyer and keep a % of shares until the club reaches the prem. The valuation of the club will have increased simply because Bates is not around. If an attractive offer comes in for the whole of the club they'll move it on and make cash now instead of in the future.

I think a deal will be done before the summer and new owner, manager and funds in place, because whoever takes the club on will want to see immediate progress :emoticon-0150-hands
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This is Leeds United you are talking about?
That been the case your theory should have started "Once upon a time", and finished "and they all lived happily ever after".
That is what happens in other fairy tales.
 
Oh £ook here we go again..Dreading the summer yet again :emoticon-0106-cryin..

Never boring being Leeds is it :( .. lets hope who ever takes over dont take as long and they really do ave funds to inject into playing staff..
On the bright side of things.....Ohhh wait there aint one..were all doomed..doomed i tell you :emoticon-0101-sadsm

ohh and Gooooooooooooooood Morning chin up it's hump day :1980_boogie_down:
 
Morning Doc

That is the problem with keyboards and forums and the lack of face to face discussion, I wasn't having a pop at you, it was a sarcastic dig at how this club has been run for the past 8+ years. I was simply asking why we were "ripe for investment" we simply aren't.

Yes someone who cares and supports the club and wishes to invest money to bring success is more than welcome but it will be a long hard slog for them, not something you would do as an "investment" that is what GFH have done, brought for as cheap as they can and sell for as much as possible.

I also said from day one they are here for the short term, I expressed my concerns before pen was put to paper, you just have to hear that GFH are an investment bank and alarm bells should ring. I also harped on that they would not put money into us which would buy that success.

On another note Sky news reported that GFH brought us for £22M they are looking to sell for £32M and new owners will be in place no sooner than 6 months and no later than 12 months from now. That would mean GFH being in charge at the start of the new season, more mid table broken dreams for us next season if that is the case.
 
Badger said:
Oh £ook here we go again..Dreading the summer yet again :emoticon-0106-cryin..

Never boring being Leeds is it :( .. lets hope who ever takes over dont take as long and they really do ave funds to inject into playing staff..
On the bright side of things.....Ohhh wait there aint one..were all doomed..doomed i tell you :emoticon-0101-sadsm

ohh and Gooooooooooooooood Morning chin up it's hump day :1980_boogie_down:
Click to expand...

Disagree with you on one thing mate, it's always bloody boring as a Leeds fan.
 
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