Sounds about right - then you still have to pay GFH £7.5M for their shar (25%) and pay off their loan of £20M. So £57.5M just to own the club outright - then you have all the legal disputes to consider £5M to Macron alone, £1.5M to the Solicitors - probably over £10M combined. With this outlay, all they will be getting is the only asset - the squad. Anyone that does proper due diligence will see straight away that they will need to pay 10 times more than the actual worth
May be wrong, but I thought Cellino & GFH came to a settlement about the outstanding £20m. End of last year I though. Easy to quote the Macron court case, but isn't there also a counter-claim by Leeds, on the basis that they breached their contract by failing to deliver gear in time for the Xmas rush, as they were contracted to do so. In such circumstances, you have every right to terminate the contract. 2 sides to every story & we'll have to wait to see the outcome - but that doesn't stop the Cellino-knockers assuming he's the guilty party. You're also assuming that any buyer will take on any liability resulting from the court cases. GFH fell for it. Cellino did, but only due to fraudulent (allegedly) accounting that masked a number of financial issues / potential liabilities. He soon sorted it out. It's a negotiable point if you have your wits about you & good lawyers. You're also quite wrong to state that the squad is the only assets. Leeds biggest asset is their current fanbase, and its potential to grow. That's the most attractive attribute we have & it's highly desirable.
So we only need 300,000 suckers prepared to give whichever shyster wants to head up LFU £100 for Christmas. No problem then.
1) Cellino and GFH came to a "verbal" agreement to restructure the debt to enable the purchase of Elland Road - you can assume thet neither happened. 2) Only Macron's case is being dealt with legally - no counter claim has been issued. 3) The court cases are against the club and not individuals - therefore if they are to be contested, they will need to be contested by whoever owns the club - no value can be put on these until a verict is received on each case. 4) An asset in business terms is something that a corperation owns or controls with the expectation that it will provide future benefit. Fans are not owned therefore cannot be classed as an asset - as such, the fanbase has no value that can be included in any negotiations. The fact that your attendances are going down quicker than a lead balloon would not help anyway.
Take your word on 1-3 as I can't bleedin' remember my sources 4) Know what you're saying from an accountancy perspective, but for a potential investor, the jewel in the crown is the fanbase.
30m can someone confirm is that what someone wants from Cellino to take all the ****e associated with this club off of his hands or does Cellino actually think he can find someone to pay him 30m ?
It would only be a jewel in the crown if your crowds were constant. 40K only happens when you reach the top flight. QPR and Hull both spent in excess of £100M trying to get there AND stay there.
Can anybody here actually list what the potential buyer is getting for his 30m ? because i cant think of one possible asset that comes anywhere near that valuation
So Cellino feels he is somewhere between £35m and £40m out of pocket taking into account the sale of Ross. To be honest, I was expecting Cellino to ask more, another couple of defeats and it would take a fool to buy us..
Sure Glory will come up with the money from somewhere.otherwise its Gloryo its time to go,gloryo its time to go.
3) It wouldn't take rocket science to put a clause in the contract of sale saying the price is reduced by whatever amount is lost in court cases if any 4) there are such things valued on companies balance sheets called intangible assets. Goodwill the most common example. Also holding a FL ticket is an intangible asset. Not eveyones got one, so there is scope to make more money in the future, i.e premiership
Initial Recognition of Intangible Assets A business should initially recognize acquired intangibles at their fair values. You should initially recognize the cost of software developed internally and leasehold improvements at their cost. The cost of all other intangible assets developed internally should be charged to expense in the period incurred. As such, you cannot presume that your crowd will be considerably higher in the next 5 years as it has been in the last 5 Why would Cellino put a clause in the contract if cases are lost in the future? He could argue that these cases are only lost because he wasn't represented fairly and demand appeal after appeal which could cost you even more than the actual damage claims.
Even if you are right with those figures, they aren't just getting the squad really. They would get the academy, the fanbase etc. But the biggest thing would be the potential return on investment if a club like Leeds were to be promoted, as well as the potential to buy the club now and gradually pay off everything else. I actually really agree that Leeds aren't in a position that would attract any serious quality buyers though, we haven't been for years regardless of what fans believe.
Actually having now read and heard the story it turns out LFU still have no idea how much Cellino actually wants. What they have done is do a back of the *** packet sum and have decided he has spent £30 mill and they have announced that that is their anticipated price. What they then did was say we haven't got the funds so please give us three months exclusivity while we try to raise it or the deal is dead. ****ing amateurs! No wonder Cellino was meeting with Red Bull (with Adam Pearson) in London on Monday ( you heard it first here).
