And Man City seem to have called their takeover an 'investment' right up until the moment it happened. BS is just covering his back so that in the event of an outright takeover, he can say there was a last minute change of mind from Bates and he U-turned on his investment only position and became more receptive to a bid. Can't lose when you hedge your bets that much and claim to be ITK.
If they do not fully buy out bates this wouldn't be off the cards. The difference is it doesn't matter because its really the owners who will decide how much money they want to invest and where they want to invest.
Very true and if they were buying into the club as an investment it would be a case of hand over money receive your shares, don't hand money over and no shares. Any one of us can buy shares in a listed company, nobody asks us to prove we have the funds, if I want to purchase 10,000 BT shares today and I had the money I could. Yes this would be on a larger scale but the bottom line would still be transfer x amount into an account and the percentage is yours, don't and it is business as usual.
Billys - you left everyone with the impression it was kg in your thread when you talked about a tv personality who had run with the torch. Whoever is your source clearly knew nothing and just fed you what was plausible but sadly made up.
We know what Bates is like, I am wondering if someone made us a decent approach a while back, Bates laughed at them knowing it was a 'fair' offer but nowhere near the extortionate amount he wanted. That comment suggests to me a two finger salute at someone? Downside is - IF this falls through due to the "Due Diligence" it would make us all wonder what horror did they find, why did they pull out and what affect that would have on future bidders coming forward, fingers crossed eh?
Hopefully the downside doesn't come to pass. I feel we've reached a real turning point, the first since promotion from Div 1. If this falls through, we would be truly ****ed. If it comes to pass, which I have little doubt it will, we will have one of the best Championship managers in the game, probably the best armed with a decent transfer kitty and what would surely be a huge support for the coming season. Cant wait to go back shopping for jerseys for the family in the online store ha
Any 'horror' uncovered would surely bring everything out in the open and lead to the demise of the current owners anyway?
beware lads if Dear old uncle Ken was doing anything legal im sure we would all be hearing about it.. mystery invester my arse seems to be an awful lot of mysteries interested in Leeds since dearest Ken took the reins
Due dilligence is both ways, the investors are now being checked out as well but word is they will pass with flying colours. Harvey will apparently have no place at Leeds, same with Lorimer. Money raised to buy out Bates by TWO parties now, so if this one doesn't close the deal in time there is another with money to take on Bates. This is really exciting now, Warnock has handed in his budget as part of the talks but not sure what that means. As it stands Bates isn't selling out completely, but surely he must realise its better to take more money and retire. He is aging fast now, and yes, he has been ill. Why would he bother with Leeds when he can relax in Monaco?
Maybe Billy is getting the correct information, just a few days late? Meh, who cares? Let's face it, leaving behind any "itk" randomers on twitter, we know someone is on the way to buying at least 30% of shares, and those closest to the inside are all suggesting it is a full blown buyout.
Cant see there been any issues now, Leeds books will be abit all over the place but offshore accounts & global investments are the norm today. I bet Man Utds books make ours look simple.
That last part of the club statement, bates just can't keep his mouth shut can he. "...they will have no issues in satisfying the requirements of the Football League's Owners and Directors Test, unlike many of the previous approaches we have had to endure." Snide comment. There's been plenty of approaches that were viable he just didn't want to sell. And hypocrisy, how bates ever passed the fit and proper persons test is beyond me.
The longer he held on to the club, the more he would make and without the club going into admin again, he wouldn't be losing anything and the club would either rise in value, or stay at the same price. This being the case, for him it always made sense to hold on to the club. He didn't have to put any money into the club and there was always money coming in, whether it be ticket sales, sponsorship, tv money, or player sales. He's used the money from future season ticket sales to "develop" Elland Road, he's sold most of our best players and is trying to sell the rest and ticket sales have dropped, meaning he's not making as much money as he was, drawing on that conclusion, he's realised that selling the club, or a major stake is the most profitable option. I may be wrong though, he could just be on his death bed and wants to be buried in a diamond coffin along side all of his money.
I read this differently at first, but now I see where you are coming from. bartes is having a dig at the quality of the potential "investors" in the past. My original reading was that he was having a dig at the FL and the FA about how they have demanded more and more information from LUFC about ownership and fit and proper person etc, and that these new investors would have no problem in acceding to these requests (whereas Bates had huge problems). Funny how we see it differently BillyS - stop it now, please! You were never in the know and neither was your "source". Undoubtedly they will feed you info a couple of hours before it comes up. But why did you not know about the announcement on the LUFC website before it came up?
That snide Bates comment was aimed at the other party who's waiting to see if a deal gets done. Now, let's start getting excited!! Bates is not well, and has caved in on family advice, and he will sell majority share but keep a small percentage to cash in for Premiership money. This is not confirmed, but that is the rumbling coming from Monaco. Personally, if Bates sells now it will be the lot, can't see anyone keeping Bates in the club if they can help it. I want to see what comes out regarding ground ownership. I don't wish anyone ill, but if his health is forcing his hand so be it, I'll take that if it means he goes, and wish him well and many years enjoying his retirement. Onwards and upwards, no Bates, no Harvey, no Lorimer and hopefully no Fry. I am waiting to confirm this, but it's certainly raising my hopes. Don't think I could handle another season of Bates, even with investment, and do the investors really want to keep him around? They've ramped up their bid slowly but surely, started by showing him some treasure by cracking the chest open and letting him drool a bit, now they've allowed him to run some of the gold through his fingers. He must be finding it very hard to resist selling up with cash on the table, but you never know with Bates...and whoever his offshore partners are.
@Jerel Man City was originally investment for a share until the money men realised they could buy the club out....at a very high price of course. Leeds also started out on the investment route with three parties interested, that is now down to two with the better offer being granted exclusivity to seal a healthy share of the club. Can this become a takeover? Of course it can, if Bates is given enough money. He took £17m cash and kept some property to walk away from a BANKRUPT Chelsea. How much will he accept now? A takeover will cost serious money, but once investment talks are advanced it becomes easier to ramp up the discussions and get to a buyout number. We know Bates will try and keep a stake, but every man has his price. The problem is there aren't many people around today who have the money and are prepared to buy a football club. If a man says he can't be bought, then I say he simply hasn't been made the right offer.
Billy honestly mate, I was open minded about it all but I am cringing now at your attempts to come out of this ensuring all bases have been covered.
Lol....well Ristac, I have always said investment with possibility of buyout if cash can be proved, so how funny is this - now YEP say it is coming from Middle East (I don't know) and although it is investment talks they are PUSHING for a buyout. Now, I've said this long before YEP wrote this, so take it as you wish. I've never said definite takeover, always investment but chance of trying to convince Bates to go.
Hate to spoil the party boys, but rumour has it that the confidentiality agreement is in place because the new owner is .............
