Morning Everyone, The Football league say it could be another two weeks before they know whether they will be in a position to give Cellino the green light, and complete the acquisition of Leeds Utd. You will recall a number of weeks ago the League sent a lengthy list of questions to Cellino and GFH, many of them focusing on the funding behind his takeover and the financial plan for his first 12 months in control at Elland Road. League regulations require Cellino to pass the organisation’s Owners and Directors test but prospective buyers of Championship clubs are also asked to “provide evidence of the source and sufficiency of any funds which that person proposes to invest in or make available to the club.” Belgian businessman Roland Duchatelet has just taken over at Charlton Athletic, the process took just four weeks. “The process was actually quite straightforward, as long as you have the answers to the League’s questions. None of them were particularly difficult. They (the League) just want to understand whether you have got the money to finance the club’s business plan, as they don’t want their clubs to end up in administration a few months after they have approved a takeover as it would be very embarrassing for them. “Nearly all Championship clubs need extra funding to help them balance their books. So, the League doesn’t sign off any takeovers unless you can show them that you have got enough money to meet the club’s financial commitments, as well as showing them where that money has come from. “This meant us providing financial details of all the companies involved in the group so that we could prove that we could meet the financial projects we gave to the League. “We also had to provide letters showing that we could call upon that funding, as and when the club needed it. You have obviously got to meet the fit and proper persons’ test too, but that’s essentially self-certification against published criteria. “As long as you haven’t got anything in your background that would lead to you being disqualified, it is relatively simple. “In our case, we could supply everything the League asked for pretty much straight away and the takeover was approved in around a month.”
Quite interestingly the football league's LUFC statement has been removed from their site. Hmmmm.... Football League statement on Leeds United: http://po.st/PersfM ” Content has been taken down? @PhilHayYEP @APOPEY
Morning Elland and all. Can't understand the delay. We have a fraudster doing a deal with the worlds most useless incompetent bankers with another potless chancer waiting in the wings while yet another former interested party takes us to court in three weeks to try wind up club. What's not straightforward for the fl to take sort out. And some still want to blame Harvey's involvement. Probably won't matter anyway, cos if history is anything to go be, we'll be worse off regardless of who is at the helm next year
Morning Eire, cheer up fella... [video=youtube;jHPOzQzk9Qo]http://www.youtube.com/watch?v=jHPOzQzk9Qo[/video]
That's my ringtone Elland. I'm a positive type of person but cowboys at Leeds seem to bring out worst in me. Ah well, roll on Paddy's day, should be memorable for lots of reasons this year. On another note, wonder who's financing the new loanees?
Only teasing pal. Its not easy being a Leeds fan. I reckon we'll get a loan signing today, a big one, and no, I'm not talking Brolin!!!
Seriously no I can't since I can remember the FA have done their best to make it as hard as possible for us
Elland I did laugh when I saw this http://www.owlstalk.co.uk/forums/index.php/topic/182189-dave-jones/
And how the hell did GFH pass the damn thing? They apparently hadn't enough cash reserves to pay first months wages, borrowing it from Bates. It's quite a funny soap opera actually if it wasn't our club involved Jonny
Morning all. One thing about being a Leeds fan, life is never boring or dull. Heyho, the T/O will get done eventually. I'm more intterested in Saturday's game. Irritating that I couldn't get a ticket, but at least I'll have to go to my local to watch the game. Hoping for a good game. At least we know that QPR won't just knock the ball around and do little to create chances. If we pull our collective fingers out, we could just nick this one. Should be a good game. Irritated that I couldn't get a ticket. No danger I suppose of getting into the QPR end and sitting on my hands for 90 mins.
