Well holy ****ing christ. The programme tonight about Leeds has some interesting things in it by the looks of… Has anyone seen this blog by the TSS…it includes letters from LCC to Harvey and back about proposed buying the ground and helping the club out. http://www.thesquareball.net/leeds-...t-could-have-saved-leeds-from-administration/ Colin posted on the comments in the below section. The Council offered to buy the ground from Teak, then GIVE it to the club’s balance sheet, offer a FIXED rate of £1.25m for 25 years, Any ‘reasonable’ club in good health that gets an offer from the council of a 125 year stadium lease with annual rent of £1.25m, would bite the Council’s hands off. It’s an incredible offer. Inclined to agree on that. In 25 years, 1.25m will be rock all. Something is not right at this club. There is also a link to scribd on it which shows the correspondence between LCC and Shaun Harvey. I can confirm that Alan Gay is still at the Council and Paul Rogerson left recently. They are/were real employees of LCC.
I posted this in the documentary thread, but it probably deserves one of its own. It's quite amazing how the Bates Regime actually thought these arrogant demands would even be considered by the Council. But the saddest fact it reveals - as others have pointed out - is that Bates' main interest in Leeds United has been property development from day one. No wonder the team's gone nowhere six and a half years on while we chuck our profits at a Beeston Village scheme that will saddle the club with debt and bring in negligible income. Leeds United is Bates' lego toy. He can use it to piss off the fans and to build his little bricks next to the East Stand, while spewing his usual nonsense in the media. This revelation only confirms that view in my mind. The list of questions the Square Ball asks are all fantastically pertinent and of course we all know that we'll never get any answers judging by the contempt we're treated with on a regular basis by the Powers That Be at Leeds.
One of these days (And its starting) the fans who have sat on the fence regarding the Bates regime, are going to get off and start kicking off. Too much cloak and dagger stuff, too may links between FSF and TEAK and all the usual players involved; Murrin, Taylor, Bates all have offshore interests and Teak has been part of this from day 1. Bates in all probability has an interest in both ER and TA and thats why he wanted someone elses money to buy it. As Pags says, why would he turn down a 125 deal at £1.25m per year guaranteed for 25-years, now that would be sound business. But no which means he has more interest in making money through property development than the football team plying their trade back in the prem
it has really confused me. if we were in such dire needs, why turn down that offer? it just doesnt make financial sense AT ALL.
Pags £100k per month in rent is peanuts, especially when he puts a massive amount into the published accounts, its a no-brainer. So why has he not allowed them to do it. He wanted the council to give him a loan at 4% so that he could buy the ground back from himself if you ask me, obviously the cash would have been spent on developing Beeston minus the money that should have gone to Teak for the ground, which would have ended up in a bank account offshore. TEAK/FSF looks like being one and the same as all the same people seem to be involved.
Just finished the long read. Wow, what about cloak and dagger story. At the bottom of it all will be someone with a big hand in the till and no trace of robbery. Thanks for the info Pags. I look forward to tonights little effort at throwing some light on the subject. I doubt anything new will come out that makes the fans happy !
It makes sense if you can go into administration knowing full well you wlll still own the club and get rid of 90% of its debts thats what this was all ABOUT .I was told this the December before they went into administration what they planned to do. Bates I am told even had a golf function arranged at a local golf club and when the bill was presented to him for £5k he told them to send it to the club the next day the club went into administration. I camnot prove this statement but thats what I have been told.
http://www.scribd.com/collections/3...the-Approach-of-Administration-March-May-2007 Read the emails & letters....
I can't really make sense of this, but the board clearly have the wrong motives for this football club. I remember one programme notes from Bates that said the ticket prices were so high because the rent on Elland Road was so high. This would have stopped that. We'd have owned our stadium and how would that not have benefit the club? No-one can really argue for Bates anymore after reading those letters. I suspect that the company TEAK that owns ER is the same as the FSF so what would have happened was Bates transferred £10million to himself and in return got control of the surrounding area whilst pocketing loads of tax payers money.
Anyone seen this before? its the commons debate from June and this was put forward... Investors represented by Ken Bates, as the chairman, took over Leeds in January 2005. The ownership vehicle was Forward Sports Fund, which was registered in Nevis and administered from Geneva. From the beginning, it was said that it had no connection to Ken Bates and that he owned no shares, but FSF had appointed him as a director and as the chairman of the club. It is a curiosity that the record of FSF’s incorporation in Nevis shows it was incorporated on 27 January 2005—six days after the Leeds takeover. If the company had not even been formed, where did the £5 million to buy Leeds come from in the first place? That question has never been answered. I didnt know that...
You can't help but feel that while we struggle around in the lower leagues the powers that be are happy to sit watching allowing snippets to surface here and there as they gather evidence and then BANG hit us with something pretty nasty IF we gain promotion back to the premier league. Probably a points deduction that would keep us down. I think it is pretty certain that we haven't heard the last of all this....
Thats my problem with it all Ristac. What gonna happen to us, the pariahs of ****ing football anyway.
