This is Reuters chaps. Not some little unknown quantity. This changes the game somewhat. They are preventing a real buyer from coming in at the moment, yet if they do manage a takeover, we are a liquidation waiting to happen - Portsmouth or Southampton or Luton anyone? http://www.reuters.com/article/2012/10/16/us-gfh-leeds-insight-idUSBRE89F0GN20121016
Is it exactly the same? I recall reading that the GFH who may or may not be taking Leeds over is an entirely separate organisation. Might be wrong. But your point on the potential fall out is well made.
"But the Dubai-based investment firm negotiating to take over Leeds, one of English soccer's most famous clubs, appears to have little financial fire power to complete the deal, accounts of its Bahrain parent firm Gulf Finance House show."
JLA, I so hope you & Sheldon are missing something. If, after all this time, the T/O falls through due to financial problems with the proposed buyers, the mood music at ER would turn seriously somber. That said, they were able to carry out due diligence & pass the fit & proper persons tests. So maybe this is a bit of confusion. Let's hope the club website shows a joint statement from both the club & the potential buyers very soon to quell any rumours.
Boggers, I quoted a paragraph to show that the analysis that Sheldon is concerned about is with respect to the holding company not the entity planning to acquire the club. Accordingly, I am less concerned than Sheldon. Time to wrap this up already!
Guys, the only hope I cling to is that Bates won't deal with anyone until he sees the colour of their money. Just for once I'm hoping the old bastard is right about something.
JLA - that is the position Southampton were in. They were lucky when they got the Swiss guy to buy them, and at least he left a good legacy. GFH going under would drag us down too Boggers - far as I know, they did due diligence on behalf of someone else (who then decided it was too risky or too expensive and walked away and then GFH stepped in for free) and why would they not pass the fit and proper person test? Thaksin Shinawatra did at first, as did Chainrai and Ridsdale. Those tests are not an indication of anything other than you have not been found to be guilty of somethign yet
Indeed it is Jonny David Haigh said he hopes to have completed the deal by the end of this month. If it drags on any longer he'll lose all credibility.
Funnily enough, when I posted a spereate Reuters article last week you all dismissed it as a wind-up. Have a look http://mobile.reuters.com/article/idUSTRE75F4LF20110616?irpc=932
T.C. the article he has put up i read it hours ago and couldnt even be bothered to put it up its all a joke and no more than a laughing stock
Apparently the founder of GFH wants to buy his kids something from disney so he's gone for the "mickey mouse outfit"
Its been quite ammusing over the last (however long its been) reading some of the bullshit some people have put up about this takeover, I kinda hope it goes through now and wait for the BATES IN chants when it all goes tits up
Make you right TC its all gone tits up,,,,, luckily they can still march on together with Dear Ken please log in to view this image
any one else got a horrible feeling bates is just giving us a big middle finger on his way out, by selling to someone equally as incompetent?
