We're talking about Leeds Utd. Who in their right mind would insert a clause like that in the first place. I reckon they have just found out.
Marathe and the 49ers would have known about the Contracts of Players, any outstanding payments owing and current book value when agreeing the purchase of the club from Rads. Why? Because they would have gone through a professional Due Dilligance process using highly skilled Accountants and Lawyers rather than van drivers and signmakers rather bizarrely. The clause for a vastly reduced Purchase Price would, in part, be for this very reason as well as reduced TV & Sponsorship revenues. "The Club" is going to lose, let's say, £ 100M on player value through these "shocking" transactions. Well, the wealth of "the Club" is actually directly linked to the wealth of the owners, you know, the guys that stump up the big money. Now, and this one is to cheer Eire and Wakey up in particular - the new owners have just brought the club for £200 million less than they would have had we not been relegated so A) Rads is £200M worse off and, the new owners (therefore "the Club") are £ 100M better off even after writing off the player values. Therefore, rather than getting in a tis because "the Club" has lost £ 100M, glorify in the fact that actually it was Rads that lost the £ 100M with another £ 100M thrown in just to make you really happy. If the new owners were going to invest anyway in the playing side, they (and therefore, "we" for those that take "the clubs" financial dealings personally) have even more to play with!! Now, of course, we would be better off still if we were selling these players for what we paid or even more (proper Roy of the Rovers stuff) but we aren't, because we can't, it is dictated by the Contracts that the player and club signed when enticing them to join us. "German International, Spanish Internationals, Italian International will you come and play for Leeds United but we don't want any clauses in the event of relegation"? Now, I am guessing they would tell us to **** off. I am also guessing that Maddison does not have such a clause in his contract because he, his agent and Leicester probably didn't consider relegation likely and, his move from Norwich was a move up a division anyway with the chance to showcase his skills in the Premier League and earn more dollar. This might just be the reason Leicester can hold out for their asking price (weren't so clever with Tielemans mind!!). Personally, I have hated this player power and stupid contracts going right back to the Bosman case but it is the world we (and every other club) deal in. However, I can console myself with the fact that it is these players that really let us, the fans, down rather than the owners who clearly did invest in the playing side or we wouldn't be looking at losing a fortune on them (can't have that both ways ). Think it was Emu who said he doesn't care who leaves - bar a couple I totally agree so won't be upsetting myself about who goes, how or for how much, I won't be better or worse off either way. Back to Current Book Value, this is also a factor in the Purchase Price. I have been involved in both the purchase and sale of businesses. Just because someone brought a machine for £ 250k 5 years ago, certainly does not mean it's current asset value is £ 250k. It will have Depreciated and, depending upon the method used, could be as little as £ 25k or even zero. This is relevant because, the 49ers have not just had their pants pulled down to the tune of £ 100M and might be looking to pull out of the deal as a result, that is Twitter gone mad (der). In anticipation of the incoming "Rose Tinted Glasses", "one of those in the new owners fan club" blah, blah, blah - no I am not, but I can see the good in what Rads did as well as the bad and I can say without any hesitation, I for one am delighted that the new owners are not using van drivers or signmakers to do our Due Dilligence or asking for advice on how to run the business. I will judge them by the performance of the club as a whole over a period of time, I certainly won't be joining the self proclaimed "dark side" before the takeover has even been ratified by the League
the problem with a lot of supporters is the time everything is taking and how the players want to jump ship.many fans want a coach in and see which handful of players are staying .then they want players signed because training starts next week. even the most average of van drivers and sign writers can see things are going too slow but not sadly sellotape salsemen .
Marcos is right and one thing that he was trying to say but didn’t get it over that well. The term amortisation. All player contracts are amortised over the term of their contract. In other words Koch is only owing £3.3m, Rodrigo down to £6m….even Llorente is down to £4.5m but we have already had back £2.8m for last season and will get the same this season and maybe £5m when Roma buy him next summer Madison was wanted last summer and had offers of £80m but Leicester refused to sell, so they have lost £40m today by him going to Spurs. Leicester also allowed 7 first team player contracts to run out meaning they lost sales on all 7 who walked away for free and remember Arsenal wanted Tielemens for £80m but he’s gone now for free. So who is the worst owner Leeds or Leicester?
Oi, stop talking sense and panic like the rest. Great post. I'm just waiting for ownership to be made official followed quickly by a manager and then we'll see what the new lot are going to do. It feels like time is ticking away but I'd hope that things are already taking place behind the scenes.
Hearing that the completed takeover will be announced next Sunday together with new manager Also Foreshaw has been given a new contract
Put him on the release list then suddenly give him a new contract. Doesn’t fill me with confidence in the new ownership if true.
