LUST PRE-AGM UPDATE MONDAY, OCTOBER 8, 2012 AT 8:29PM In advance of our AGM at New Farnley Cricket Club this Thursday, the LUST board have been working to establish the current situation with regard to the proposed takeover of Leeds United, and to gain an understanding of the future of the club. In our first comments on the takeover back in May, we stated that we had spoken to at least two separate groups interested in taking over Leeds United. One of these groups was later granted a period of exclusivity to negotiate with the club. We know that this group had the financial resources and ambition to take the club forward, and understand that members of this consortium wish to comment about the negotiation process in the future. A number of parties have expressed interest in the negotiations over the last five months and longer, but current bidders GFH Capital have only emerged as potential buyers in the last six weeks. Our guiding principle at LUST is our Vision Statement, which was written by our members and sets out what we want to see at Leeds United, no matter who is in charge. With this in mind, we have made contact with representatives of GFH Capital, to ascertain whether their plans for the club accord with the hopes of our 8,300 members. From our discussions, we can say that: - GFH Capital are very confident that a deal will be concluded in the near future. They have no major issues left to negotiate, and do not consider their lawyers to be delaying the deal unduly. The details of the deal are being concluded by the respective legal teams, - They intend this deal to be a full takeover of Leeds United. Ken Bates will leave the club and David Haigh will take control, - They view Leeds United as a long term project, and denied any intention to 'flip' the club. They could not answer questions about funding due to confidentiality agreements, but insist they have a strategy for success and the funds to achieve it, - They confirmed that investment and success on the pitch are at the top of their agenda. Regaining ownership of Elland Road will also be a key aim. They agreed with us that dwindling attendances at Elland Road are a sign of supporter dissatisfaction, and that bringing the crowds back should be a priority, - In line with our Vision Statement, they understand the importance of working with all supporters and supporters' groups, the local council, police, businesses and the local community, and building positive relations with all. For our part, given their status as current bidders and their confidence that they will soon conclude a takeover, we welcome GFH Capital's assurances regarding the aims and ambitions of our Vision Statement. However, while we acknowledge the need for confidentiality, we retain some concerns over the lack of information about their sources of funding, and will seek clarification of this as a priority should their bid be successful. We would also stress that, should GFH Capital successfully conclude their takeover, they will be judged by Leeds fans on actions, not words. LUST are guided by our Vision Statement, which has the support of over 8,300 Leeds fans who have joined the Trust as members and shareholders. Our role will always be to work towards a club that is ambitious on the pitch, and open and inclusive off it, whoever is in charge. Our AGM will be held at New Farnley Cricket Club on Thursday 11th October. Our members and shareholders are welcome from 7pm-8pm, and all Leeds fans are invited to attend our public meeting from 8pm onwards. You can find directions here and an agenda for the meeting here. Keep in touch with us at www.lufctrust.org by emailing us at [email protected] and via our Facebook and Twitter pages.
The main news seems to be that David Haigh intends to take over as chairman, which we probably all guessed anyway, but still a well written statement that should keep some of the wilder speculation in check for a while.
And yet another serious of obvious paliative statements. What else was any bidder going to say in response to LUSTs questions. Still if it keeps you all happy and in garys gang then I guess it was worthwhile on their part.
And prey tell what else anyone would say. Even Bates would say the same. Why are you people so easily sucked in by anyone who quotes of the obvious?.
They've acknowledged that the dwindling attendances are a sign of supporter dissatisfaction. Can you see Bates acknowledging that anytime soon? He'd just call us all morons and be done with it.
Dwindling attendances are part of the LUST campaign coupled with low expectations and a recession attendances fallinng were bound to happen. BTW if we happen to win 3 of our next 4 games the attendances will be up to 28 to 30K. Success on pitch will quieten any rebellion. Mike Ashley - Newcastle remember them?
Completely agree with the recession point. But again, that leads back, in some respect, to the fact that supporters aren't happy at the ridiculous ticket prices! So it's still supporter dissatisfaction. Although obviously there are plenty of fans that still want to go who can no longer afford to full stop, regardless of the prices. Success on the pitch will arguably quieten any rebellion, yes - but for success on the pitch (ie - promotion) we need investment or a miracle.
In 7 years, Bates has signally failed to say such a thing. And his actions scream out the complete opposite!! So wtf are you talking about?
I'm not as up to speed on this as you lads will be, so forgive me if this is old hat, but looking at the experience of Bates still cropping up in bits of Chelsea and the lack of clarity on who owns the ground and training centre, how can you be sure that Bates's involvement would be final?
Did LUST speak to GFH in May? Or were LUST speaking to someone else? I don't understand why they had funding in May and now its a concern....?
I will say this in small words. Just because a few of you keep on pushing the lUST agenda or believe it hook line and sinker does not make it true. You better get in line and give me some -ve rep or dislikes. You guys are all getting a bit daft with your blinkered vision on what is actually going on. Me, its easy I am watching a team that is playing as a team and all are playing for the shirt. It might not be pretty but we have a 50/50 cahance of getting up even with Bates at the helm.
You understand pefectly well. The elephant in the room is that GFH were buying for 3rd party (Sheilkh rattleandroll) he didnt have the cash and he fooled LUST. Now GFH are trying to find £53mill under the sofa.......... aint gonna happen but lUST are still believing so it must be true.
Well bates wouldn't, he blames the fans for dwindling attendances and tells them they are wrong to be dissatisfied. bates would never, ever say the same. Why are you so negative about something that can only be positive? End of the day, they are unlikely to deliver on ALL of their promises. However, if they delivered on just one, significant promise they have made, they are already one step ahead of ken bates and therefore better for Leeds United.
That's not what happened at all, but you keep feeding yourself whatever anti-LUST fantasy keeps you happy.
Only time will tell. There are enough things not adding up to be causing concerns to anyone with eyes to see.
it is a sight nearer than you know who getting on Calendar in June to tell us the tO was only days away. You seem to know more than you are letting on. So what did happen?
On a slde note, Chippie has such an anti LUST bias, he will see only negatives. I have replied on many occasions in the past to his ramblings but no more. Waste of time. Leeds moving in right direction at last and I fully intend to enjoy being a part of it
You are aware that this latest statement shows that the deal that was days away from being completed fell through, those buyers ****ed off and GFH Capital have only been in the game for 6 weeks?
