In the year 2000 Leeds had a young team which I thought could have developed into a team as dominant as Revies greats.Unfortunately it was bought with borrowed money.Peter Ridsdale possibly rightly was blamed for plunging the club into debt. Whatever his faults he had helped to give supporters a team to be proud of. Since then the club has been run by a collection of shysters,conmen,crooks,and thieves.I believe its possible that one of the crooks still has a stranglehold on the club and it is the reason we have not had a credible buyer.The club,the ground,and Thorpe Arch all seemed to be owned by a series of off shore trusts made unfathomable by the aforementioned crook. Lets hope when he dies it will become clearer. Till then we are stuck with him. in the
Quite clever when you think about it. Ground was sold by the "unknown" owner to an "unknown" buyer, The money was used to pay debts (well the loan to the unknown owners) the rest of the creditors only received a small % because Leeds went into admin shortly after. Meanwhile the biggest assets (ER & TA) are no longer part of the value of Leeds Utd FC. The "unknown buyer" collects £1.4M & £500K in rent every year, and to buy the ground back, any Leeds owner will have to pay £16M. So this "unknown buyer" has made £24,8M in rent over the last 12 years AND still owns the ground which Leeds would need to buy for £16M, So the unknown buyer has already trebled his money, and still owns the Asset which has a set purchase price of £16M. If Cellino delivers his promise of buying the ground back this year, Teak InBatesments will have made a profit of £33M + whatever they sell Thorpe Arch for.
From memory, and it's a bit hazy on this subject, someone did some tracking and found the owner of the ground to be the owner of Teak investments or something, the name was discovered too. They also found a web of off shore companies with some linking back to Teak Investments and Master Bates. I think it was WJ, not 100% sure, that actually posted some of the media content on here, but couldn't post it all. Thing with Cellino buying the ground and TA back is, GFH would automatically have their shares increase in value once the grounds have been bought back, they would have to pay their share of the buy back price of course. I think Cellino is aware of this, which may be the reason he's holding off, GFH's shares would skyrocket, and we'd never get rid of them.
Can't see any reason why Cellino wouldn't set up a seperate company to buy Elland road. Could rent to club for an amount that would get him his money back and gfh would get no part of it. That's if he really wanted to of course
He's already been done for setting up companies to import his Yatch and range rover to Italy, do you think the PL and Harvey would let him get away with it?
Hasn't he been done for not paying the taxes. You can set up as many companies as you like once they're run properly. Nothing to stop any of his family, daughter, granny or whatever buying it. Its a smokescreen to explain away his reluctance or inability to buy the ground. Simple as
[/QUOTE] Possibly Cellino has not repurchased Elland Road for whatever reason is because it is not in the financial interest of whoever owns it.
There are plenty of routes to buy ER. None need be the slightest bit questionable from a tax point of view, unless they ARE questionable (eg. Set up specifically to evade tax). Reason deals don't happen is there is either not a willing seller or/and not a willing buyer. When I say willing buyer I mean with the necessary financial means. Right at the start MC talked about going to the banks, he never indicated an intention to use his own funds to buy ER - the club would be used as the borrower. That means if he does have an issue with GFH its a problem, equally if banks don't see club as a safe borrower that would be a problem. All speculation, all I know is that buying ER would have been a good thing for clubs long term health and it hasnt happened despite all MC's words
Cellino buys ER with his own funds as he initially said he would and when it is time to sell you deduct ground value from GFH share, there are lots of other ways to do it. Only those looking to defend the non purchase promise are making GFH as the excuse. Surprised Cellino hasn't brought us, how could the FL tell him to stay away from the ground if he actually owned it
Doubt if there's a bank that would touch us given recent record and various crooks that have their fingers in the Leeds pie. Even if one did, the interest rates would likely be hiked up to cover the risk factor
I remember him saying if the bank didn't loan it didn't matter as he has the funds. I also remember him telling us the Ross transfer fee was going to be used as well.
Couldn't you use that excuse the other way round Ristac, Those who hate Cellino for not buying Elland Road back look for excuses why he hasn't done so ? i'm not a businessman, I don't know the ins and outs of whats going on, like most on here Those still for Cellino are gonna blame other forces, as to why he hasn't done this or that, those against him are gonna blame the crazy, mad, eyetie bastard The nightmare continues
It's a pity Cellino ever mentioned the Elland road fiasco in the first place. Most fans only want results and wouldn't care if we owned it or not. He should have bought it and then bragged about it
Something I find hard to believe, we were shipping out high wage earners and bringing in loans and freebies
Afternoon OLOF it was Cellino himself who made the promise 2-3 times. As Eire pointed out, if he hadn't said anything it wouldn't have mattered. The guy is full of B/S - I found an interesting article today when searching for the Ross transfer fee, it was Ross saying he was told by Cellino not to train as there was a big money offer in for him. Cellino told Ross he was going to accept it but Ross needed to put in a request as it wouldn't look good on the club Cellino's bag of lies http://www.theguardian.com/football/2014/jul/08/fulham-sign-ross-mccormack-leeds The more truthful events http://www.dailymail.co.uk/sport/fo...ed-11m-Fulham-Massimo-Cellino-s-decision.html
Correct Ristac. He's full of bullshit and his own worst enemy. However, he's still far from our worst owner ever. I still believe he's trying to improve us and profits not the motivation. The money's he has put in could have been better invested in more profitable and stress free projects. Previous owners were only in it to bleed us dry, and they did it very well. I'm still not part of the Cellino out, everything about him is evil (chairman glory) camp until I see a realistic prospective buyer with the required resources ready to step up and buy him out
Not sure where I stand Eire, one sensible part of me says things as we are until/if a decent buyer comes in, the other part of me thinks let the FL ban him for life and see what happens. I guess I have hit rock bottom when it comes to caring anymore. It has got to a stage where the other day I thought will I ever see Leeds play again (live in attendance). Would I be willing to take a **** or bust gamble over another 12 years of this, yes I think I would. Kill or cure, we just can't keep going along like this...
