as things stand as we say on the last day of the season it looks like Rad 50% Cellino 25% GFH 25% good luck with that one has Cellino pulled off a GFH corker put fook all in now but want his 25% of any profit
Nope, you really have bought silly season, ****ing ridiculous, next I'll be hearing millwall have a supporters club and forum
It's quite simple. GFH via the debenture signed by Cellino in the deal signed in 2016 - see here https://s3-eu-west-1.amazonaws.com/document-api-images-prod/docs/cPURiUQLHV8_pnqHM0PM13fEG6E16RDTIkAE7KRSy58/application-pdf?AWSAccessKeyId=ASIAJFZ3DNIHYM2MTNWA&Expires=1494622636&Signature=WDV012Y7dkdlPgbs9ONncAJOfww=&x-amz-security-token=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 - have control over the Club’s assets (nothing can be done without their signed approval). There is also a clause in this loan agreement that says that they will get their £17M back over a period of 13 years, but if there's a change of ownership, the debt becomes due immediately.
Are all you wallies ****ing thick. Hurry up and get to the logical conclusion......so if Radz has agreed to buy the club........it's like trying to explain to the bermondsey hill billies
The link doesn't work, but it's academic. Going by what you say, it seems the club's hands are tied unless they can come up with £17m or a fresh agreement. Jeez, makes you wonder about the calibre of lawyer they're using these days. Should speak to Bates - he knows good lawyers
you are making yourself look thick it aint rocket science is it cellino cant sell what aint his and all the bollox about him owning 100% like fook he does
It's absolute madness - Cellino must have been either very desperate to sign that or very stupid and not know what he was signing. Basically, GFH have a debenture over the assets -this means you cannot give such security to potential future lenders (i.e banks or short term loans) It also means a repurchase of Elland Road by the Club would make it an asset that is added to those GFH has control over & the future sale of ER or borrowing against it can only be done if GFH agree. - Utter utter madness!! With regards to Radrizzani - as required by law, Elanora Sport Ltd reported as a significant event to companies house that the company had sold 50% of the shares it owns in Leeds Utd to Greenfield Investment Pte - Radrizzani’s investment company. Until they report that the remaining 50% has been sold (which they are legally obliged to do) no deal has been done for Radrizzani to become full owner. Keep your eye on Elanora Sports Company House alerts - soon as a significant event alert gets published, then you know the deal is done
looks like to sell the remaining 50% cellino has to pay GFH 17M first is the remaining 50% worth over 17m if not cant see him paying 17m to get less back best keep the 25% and hold the club to ransom i would
I'm curious about one thing - if all this is triggered by a change of ownership, why have they waited until now? The 50/50 deal must surely be a significant enough change to represent GFH's first opportunity to act. Could I speculate that if this change to 50/50 ownership was indeed the first opportunity to act, then perhaps the challenge from Cellino is that they missed their chance. Tenuous, but why not speculate like everyone else?
Speculate is all you can do mate - who can read what GFH and Cellino have done or are doing when they have been very careful how they do it (multiple companies and complex loan structures/debenture agreements) Did you know that the net woth of Leeds Utd fell from +£1.6M in 2015 to -£8.6M in 2016? How the fook did that happen??
While some are having a go at Cellino, let's not forget how GFH used LUFC to drain money from them in first place. They had no intentions of getting Leeds United promoted and started the lufc sinking process. Personally, I think Bates knew what he was doing, and knew why GFH wanted LUFC, chances are he advised GFH how to do it. Bates hated Leeds, and he wanted them destroyed. This problem goes back to Bates/GFH, Cellino pulled us out of the mire we were slowly sinking in too, he did what he had to do. While GFH were wanting their money, which I believe started at around 30mill, Cellino did the negotiations and from memory reduced their debt, which would've been beneficial to Leeds in long run. GFH were the stumbling block which prevented Cellino from buying back ER. Cellino took over a big mess left by Bates and GFH, he could only do what he had to do to keep the club afloat and running properly, even injected his own cash when GFH refused to pay players wages and make other payments/investments; if he hadn't bought Leeds, and did what he did.........what could've been the repercussions? Cellino bought out GFH. http://www.dailymail.co.uk/sport/fo...nal-GFH-shares-sole-control-Leeds-United.html GFH's debt plus http://www.yorkshirepost.co.uk/spor...a-the-17m-debt-gfh-left-for-cellino-1-8115446
Some people were instantly put off Cellino by the way he handled McDermott. Then how he made all of the redundancy's, closed thorpe arch and made his sons directors. How he treated Neil Redfern and his Mrs. All of the court cases - Macron, Cameron Stewart etc etc Cellino may have taken over a big mess, but I think he might have made it bigger
I can see yours and others side of it TC, but for me it's about looking at the positives too. Cellino had to save money, we were slowly drowning in debt. McD would never have got us promoted imo. Cellino owned LUFC, his money, his way whether we agree with it or not, but he still did a lot of good for club. Redfearn and his Mrs brought it on themselves. Redfearn tried using the fans, didn't work. He was too engrossed in his academy boys which he kept taking credit for, but apparently he had the two ex leeds players who did the actual work sacked. He wasn't too keen on Cellino's signings, and handled them wrong, some turned against him for a reason. Cellino was a man who wasn't scared to stand up to people, over the top sometimes, but the media seem to make it out to be worse than it was, as they do. We probably have the most loyal and passionate fans in UK, and most of world for that matter, but speaking through passion alone makes other things invisible. If I was Cellino right now, I'd keep the 50% ownership and hold GFH at bay, more beneficial for LUFC.......
The latest scam has Bates fingerprints all over it. When Bates took the club into administration KPMG put the club up for sale the Bates offer was way short of other offers but went through because an off shore trust called Astor said it would waive a debt of 17 million pounds only if Bates bought the club. I have always thought that Bates,GFH,and the ownership of ER and TA were linked. As with everything else to do with Bates it stinks.
Rad is now half way through the ten day period he announced he would have aquired 100% of lufc by. No ifs no buts. #talkischeap #neverbelievethehype #cellinoisadumbfuck
If things stand as they are cellino is laughing his bollox off he always said he wanted to retain a percentage especially finding out first hand what GFH we doing Cellino has fooked off with Rads money he is buying Brescia leaving Rad with a 50% major share hold of Leeds United the Charge i believe is against Leeds United not cellino or Ellanora therefore that is now Rads problem cellino walks away from it. Problem before was cellino couldnt buy TA or ER because GFH said yes you can buy it with our permission but we will not fund our 25% but sure as fook they wanted their 25% stake and would not sign a disclaimer. now there are 2 of them with the same holding power even if Rad buys GFH out for the 17m that still leaves Cellino with 25%
GFH don't own 25% mighty, they're cashing in their chips once full / majority ownership changes to Radz, if it changes. Not sure on the Cellino/GFH agreement details, but I believe it was either when Leeds got into PL, or if ownership of LUFC changes hands; with Cellino/Radz owning 50% each, no one is the outright owner, I got a funny feeling both Cellino and Radz worked on this when Radz originally only bought 50%......
