Hull fan in peace. Is there actually a take over happening here or is it all just paper talk. I've tried to do some homework on it all, but it's all mixed reports and sheer confusion. Rather than wishful thinking, is it actually happening?
Thats the question wed all like the answer to. I suspect you know as much as any Leeds fan and that probably includes LUST. The longer we have to wait, the more unlikely it will be anything spectacular if it happens. However, until the club says its over, we must believe it's still on
I'm sorry but that's balls, LUST have everything to lose if they were making it up, Bates would have a field day. There is a takeover, but no-one outside of the people involved and LUST really know the details. Apparently it was expected to be done by now but there's an unknown hold up, believed to be at Bates' end.
Holdup as he has changed his mind and wants to have another season of trying to win promotion on the cheap maybe?
Possibly, no-one knows what's going on in that man's head, but I think he's just being his usual difficult self.
I wonder if the prospective buyer would be in a position to say 'we have pulled out' if they found something wrong. I mean I wonder if they have signed anything preventing them from making a statement should they find anything of concern?? It wouldn't surprise me if it did happen and Bates decided to keep it from everyone for as long as possible.
The situation has always been Bates wanting investment for a share, investors had a go at offering more for a buyout. Bates will sell for right price and clauses, this has not been reached. LUST said it wrong by announcing its a takeover, should have said "offer to buy out". That's it. Worst case Bates tells investors hit my price or go away and we get no investment, best case investors give Bates what he wants and he's gone. Good news is its still ongoing so Bates is still listening. Bad news is its been more than two months so do investors have enough to buy Bates out?
Its not just LUST that is referring to it as a takeover, its everyone connected with the club, Lormier, Gray, Warnock. Also if proof of the funds haven't been seen DD wouldn't have taken off. These things take time especially with the books we have no doubt!
Your final line above sums it up nicely Bucks. Given the spiders web of details over who owns what at Leeds, how many shareholders there really are etc, DD was always going to take time. But I still think we are looking at a takeover, rather than just investment. For one thing, I would find it hard to believe that Warnock has been able to bring in all these players without FIRST reducing the wage bill considerably more than he has already. I also doub that funds would have been made available for new players until the wage bill had been substantially reduced. We've still got Ruchubka, Nunez (who I actually hope we keep), Connolly et al. Let's hope this is the week when the take over finally happens. Morning by the way.
I think they are probably delaying the takeover until after the transfer window to be honest. There has been too much hype regarding the takeover and if they do buy Leeds united prior to the transfer window everyone will be expecting them to sign a huge big name player at least which is probably not there intention whatsoever
Yes mate, that's why Warnock's been talking about "the new owners" for weeks. Warnock has though been saying that he'll essentially get to spend what he wants when the takeover goes through, and has all but admitted that he has some targets that are dependent on it.
While I agree it can't be an easy task looking through the books I can't believe it has taken two months, it won't be a one man team going through things, it will be a team of experts (you would assume). I don't believe it would possibly take this long unless there was a hitch or a problem. Why would they risk promotion for the sake of denying NW a missing piece to his jigsaw, I see a few suggesting this but I don't buy into it at all. Fans would be happy to hear we are new owners, we have spent big in buying the club, no more money for new players but we will look at things in January and re-invest any profits from season tickets and gates.
LUST did not get it wrong, this was always a takeover and still is, the delay (we are told by our contacts with the buyers) is with Bates. There really isnt a conspiracy theory on the buyers side of the deal, exclusivity and confidentiality agreements are approaching their end, Mr Bates has a clear desicion to make but he should bare in mind he only controls one media outlet (Yorkshire Radio), the truth will out
BIG, I don't suppose there's any chance of telling us the date of when these 'exclusivity and confidentiality agreements' expire?
Me personally, i wouldn't have gone anywhere near this deal because of the person in charge, and the complexity of the tangled web. I'm chuffed to bits that someone has the bottle to try and do a deal with Bates, but because of this complex web of companies, which are spread over different offshore tax havens, its bound to be a nightmare. Anyone who sets up 20 seperate shell companies, all attached as part of Leeds Utd, cannot be on the level. These companies have been set up to move funds between them all, making an audit time consuming. With each company there will be questions which need answering, but it'll be like a maze and trying to unravel the actual details will be tough going. I suspect that plenty of questions have been raised, and Bates & Co will need to take time and cover their tracks before answering. The blokes a bandit as we know, so I expect either the potential investors will decide that enough is enough, or tell Bates to piss or get off the pot, very soon, because this DD will be costing in the region of £600 per day minimum, and probably more. They've already had to stump up cash to see the books and get exclusivity so already spent a fortune. Bates will be hoping they get sick of chasing ghosts and just sign the deal. he needs to be careful they don't decide to walk otherwise Bates will be in financial trouble.. Well the club will be.
