Chaps, I'm not an accountant, but I've read the LUST analysis that Jonny posted http://www.not606.com/showthread.php/188883-Leeds-United-Financial-Analysis-Update-Part-2-of-2, and even I can see that the books do not look good at all. It's important to remember, however, that these figures are pre-takeover, Marko (June, 2012?). You would be right with your assertions if the takeover did not change anything fundamentally (like a seriously large cash injection, debt payoff etc.), however not one of us knows what the terms of the takeover are, so we cannot speculate with any certainty.
Exactly and to add debt doesn't mean you can't post a profit, the report does not show any income from sponsorships, increased gates and it works on the total needing to be repaid, not a yearly debt. As I said before, far more concerning for me is does GFH have the funding they insinuated they would have in being able to purchase players that matter. I just hope our wage bill does not spiral out of control with too much Clint Hill and Tate type deadwood.
Evening folks, just finished work. What have I missed????? The Sun are this morning claiming that Leeds United have tabled a £750,000 bid for Nottingham Forest striker, Dexter Blackstock. Neil Warnock has made no secret of his desire to strengthen Leeds United’s strikeforce and is believed to have turned his attention to the 26-year old frontman after Leicester City beat him to the signature of Chris Wood.
Either that or did a mega-milk once he decided he was going to sell (which is always a possibility!).
One positive is at least when next prospective buyer trundles into town, and they will at some point, a future sale should be much simpler. One company owning all shares with hopefully a transparent set of accounts as opposed to the nightmare that faced gfh. You have to give them credit for sticking at it for as long as they did
please log in to view this image LeedsUnitedNews ‏@lufcrumoursnow Aidy White would be open to a loan move but if he did he'd like to play left back, however he believes he is in warnocks plans #lufc Retweeted by Kevin-Editor Of...©™
More bad news? leon wobschall ‏@LeonWobYP Spoken to Thomas agent today. No contact from #lufc in past wk + injuries to Gera/Fortune mean he might get wba chance.Looks unlikely at min
Thomas never had intentions of signing for us n id rather gfh sorted out the pricing structure and the current crop of wasters rather than rushing to sign people now, lets face it this season was a write off long ago thanks to poor businessmen taking piss with takeover!! Lets build for next year
Isn't that the case only if the player is younger than a certain age AND is not under contract? He is under contract for 3 or 4 years. isn't he?
Exactly and with it ever seemingly more likely that GFH haven't much money left to throw at this the worry for me is we double the wage bill on old past it players like Hill. Why have we extended Tates loan, why don't we just bring in a new face, why hasn't Tonge signed already when we had him here at the club, something isn't right and if Warnock brings in Clint Hill it will show that we are not building for the future and that we are taking the cheap option. From the very start something never seemed quite right for me, GFH might get bored with their new toy quicker than even I had anticipated.
I'm just as suspicious as you, ristac, but one thing to bear in mind - Warnock was brought in to get us into the PL, not to build a team for the future. There's enough criticism of the manager without criticising him for something that's not on his agenda.
Completely agree. I don't agree with the short term strategy the club wants to employ, but you can hardly blame Warnock for it - he's not going to be here in 3-5 years time.
As I pointed out elsewhere, remember gfh know nothing about running a football club, contracts wage structures etc and are relying on Harvey and Bates to advise them. Is that not a worrying thought
No because they are part of a very strict and legit business governed my many laws governing stock listed companies. They did not get where they are from being failures, I quite expect when it is time for Bates to step down a new executive to be brought in with experience of running a club. It honestly does not bother me in the slightest that Harvey and Bates are still there, if they are in 12 months time YES it will bother me big time. Far more concerning is the niggling doubt I have about GFH finances in putting together a promotion winning squad. I have a feeling that they were/are planning on simply putting in the money the club makes to fund new players rather than bleeding it out like Bates has been doing. If that is there plan then no promotion for us within the next 2-3 years as we are miles away at present.
