http://www.yorkshireeveningpost.co....unding-remains-elephant-in-room-hay-1-5000426 1. No wonder LUST have shut up 2. All you who have shouted Bates out whatever the consequences should be looking at yourselves. 3. Whoever it was on here (simon?) that bet me £5 the deal will be done by Christmas will be paying up.
If which bits are true? I can read anything I like into these latest statements from the "buyers". Either they have taken a punt, got the essentials of a deal and are now hawking it to investors they know, hoping to share the investment out ........ or they have been effectively fronting from the start for a small group of investors who prefer to stay out of the limelight, because they are so @@@@ing wealthy and important that its almost embarrassing ........... or the answer is between these two extremes. Apart from the worry that a possible reason its so slow is because they now are lining up the actual investors, we have almost nothing to go on to say what the reality will be. Great to be a Leeds supporter
They don't sound like they have two camels to rub together. I read it as someone who wants to but the club but have not a clue how to pay for it or what it will entail finance wise to make the side succesful. It all sounds too much like "living the dream".
we don't know if they have investors lined up or not on the down side - lack of just that might be the reason for the delay on the plus side - if they can't pay, my friend and yours, MR Kenneth Bates really has wasted a lot of his time on them
plus, they are not amateurs wanting to live the dream, of that I am sure the only dream they want to live is one where they make stacks of cash
Getting sick to the back teeth of this endless takeover is on /off. Bates is waiting to see if we get promoted , then he will add another 70-100m to the price tag
Let's take this back a little. Bates was previously content that the buyers would find it easy to pass the fit and proper and the Premiership tests. And GFH were seen as the brokers. But brokers who we know don't have money - all they currently have appears to be debts. Could it be that the original investors pulled out, having paid and done all the due diligence via GFH, but GFH actually see an oppportunity and basically carried on the talks with Bates, but they now need to get investors (venture capitalists) to buy into it, very much like a pension fund? I have no basis for this, it is all just made up off the cuff, but given how things have panned out, there is a possibility of it
Not knowing how it's being funded doesn't prove any of your claims (and I don't think it was me who made the bet, could be wrong). What we do know is that GFH aren't planning to buy the club using debt, so they have to be getting funding from somewhere.
No debt - that means fully funded by stakeholders, either through a private shareholding or public. So GfH are likely to be the equivalent of the Swiss Bank that used to administer the FSF fund that owned us, so no-one will ever know who the actual owners are?
Sheldon, very close. As I said from start, this was a buyout but Bates wanted a certain price, we now know that is around £50m. The reason Bates didn't invest in team was to keep club in the black, that way he can sell for higher price. The money is there from GFH, funded by some very rich people, and the goal is get to Prem and treble your investment. Deal is being pushed to be closed by next transfer window so team can be strengthened. GFH want a quick return to Prem, when they will probably step aside a few million better off and leave the running of the club to the money men. The only hold up is that GFH want no debt in the deal, so badically any creditors outstanding are to be paid by Bates out of his £50m. Good times ahead, a debt free club and any investment will be in team and stadium. Now I'll turn my phone off and watch us blow Barnsley off the park, a nice meat and potato pie and a Sprite. I'm driving!
Most likely scenario but nothing to stop original investors buying in once gfh have gotten rid of the rotting corpse that is bates. No need to panic. Doing well on pitch and a two week break. Lets see what next few weeks bring. Far too many people too quick to jump to conclusions seeing as bates is a perpetual liar anyway
Bates is on record as saying that he's chucked out many 'bids' as the bidders have not been able to prove that they have the necessary cash in place to proceed. This was not the case for this proposal, and Bates has announced that he is satisfied that the funds are there to do the deal. He's aware of the facts, Phil Hay and everyone else is not, so how can anyone possibly know better than him? He's a wily old fox, whatever you think of him, and he knows a time-waster when he sees one. He hasn't on this occasion, otherwise he's have been shouting it from the rooftops. Lack of cash will not be a factor if this deal goes tits up. It's scurrilous journalism IMHO.
I thought David Haigh was worth billions and a leeds fan, he is the deputy chief and operating chief of GFH. One of many like him, I thought anyway
Can someone put the chip van out of his misery please? I'm willing to stump up the cash for a one way ticket to Switzerland. The guy is frickin' tool.
