Leeds United Thread

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Coledinho said:
They are in too much trouble to be worried about being cautious. They need the money and they need it now from anywhere and everywhere.
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There is no doubt in my mind at least the club had real cash flow problems, a couple of things indicated that to me at least.

1. 2012 - 2013 Season ticket renewal deadline for existing season ticket holders January 31st 2012.
2. The club were offering 10% discount for Christmas dinner bookings in May.
3. Collapse of agreed player transfers as cash up front was required.

In my own mind there are two options for the club.
1. Sell players to improve cash flow.
This would be the final nail for the club, attendances have dropped dramatically recently & despite what the club says I believe the number of season ticket holders for next season would be reduced yet again. Fans are already refusing to buy programmes, use club bars etc and this would only get worse if they should sell key players in my opinion.

2. Secure Investment / Club takeover.
I think this is the best solution all round, Ken is getting on & also in ill health. The good news is the Yorshire Evening Post / Leeds United Supporters Trust have spoken directly to multiple parties willing to buy the club. If one deal falls through I'm confident others will be willing to move in.

On the downside the lengthy negotiations are cutting into our pre-season and our ability to trade in player transfers.

Nobody ever said supporting this lot was going to be easy.
 
Re Indicators that the club were in a real cash flow crisis, in addition to the 3 points mentioned in my earlier post above. I forgot to mention the most important indicator of all:-

4. This year the club mortgaged 2 future years season ticket revenue in return for cash up front.

http://lufctrust.squarespace.com/blog/2012/4/5/leeds-united-financial-results-lust-questions.html

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Thursday, April 5, 2012 at 1:00PM

Leeds United's various financial results were made available at Companies House yesterday, and as ever they have caused consternation among Leeds supporters and begged more questions than they answer.
The headline points from the accounts are:
- At the very end of the accounts, under 'Post Balance Sheet Events', it is stated that: "Leeds United Football Club Limited entered into an agreement whereby it sold season tickets for both the 2012/13 and 2013/14 season for a sum of £5,000,000 after the year end." This has since been clarified by Phil Hay of the YEP, and we understand that a portion of the season ticket income for the next two season has been sold to raise £5m, to pay off a loan for the East Stand development works.
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Other clubs who have done the same thing in recent years are Portsmouth & Glasgow Rangers, I'm afraid you only go down that road if you are really up against it.
 

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repeatoffender said:
Other clubs who have done the same thing in recent years are Portsmouth & Glasgow Rangers, I'm afraid you only go down that road if you are really up against it.
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City did it a few years back, I think Everton have done it as well.

Probably a fairly common thing in football, but a good sign of cash flow problems.
 
moomba said:
City did it a few years back, I think Everton have done it as well.

Probably a fairly common thing in football, but a good sign of cash flow problems.
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I heard from a number of people that just prior to the season ticket mortgage that the firm that completed the East Stand Development (Caddick Construction) were on the verge of issuing a winding up order on LUFC.

Phil Hay of the Yorkshire Evening Post's comments in the post above don't 100% confirm that this was the case but it looks like the rumour isn't too wide of the mark.

You mentioned Everton in your post as an example of clubs who have mortgaged future gate revenue. That's just another example of a club which is in a financial mess.
http://www.dailymail.co.uk/sport/fo...-season-debt-ridden-Everton-tell-bankers.html
Bill Kenwright has admitted to pleading with Everton’s bank 'don’t to kill us this season' as he laid bare the details of the club’s suffocating finances.
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Also I seem to remember Risdale funding player transfers against future gate receipts prior to our own collapse, for me it's a sure fire sign that a club is in trouble.
 
HolyRioli said:
Seems we are to sign QPR keeper Paddy Kenny. Warnock is obviously a fan of his from his time there.
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Warnock got his man. Can't say I know anything about Kenny, obviously he can do a decent job of stopping the ball getting past him. Anyone know anything more on the takeover/investment?
 
abers13 said:
Anyone know anything more on the takeover/investment?
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More of a guess than knowing I'm afraid.

Leeds United are currently involved in a High Court Case against West Yorkshire Police http://www.bbc.co.uk/news/uk-england-leeds-18787641

If I was buying the club I'd want to know the result of the court case before committing to a purchase, if the case goes against LUFC it could be very costly.
 
The person involved in the takeover is supposed to be Sheikh Abdulrahman bin Mubarak Hamad Al Khalifa from Bahrain. Apparently a life long Leeds fan, was linked with a takeover years back (during the Krasner years from memory) but nothing came of it.
 
The judge in the LUFC vs West Yorkshire Police court case has delayed judgment, really hoping this doesn't impact/ delay the deal.

http://www.bbc.co.uk/news/uk-england-leeds-18862570


Judgement has been reserved in a dispute over payment for policing Leeds United's stadium on match days.
The Championship club said it was wrong for West Yorkshire Police to charge it for policing streets and car parks near its Elland Road ground.
The club wants the charges to be ruled "illegal" in the High Court. The police force said its boundaries were strategically determined.
Mr Justice Eady will give his judgement later this year.
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Ex Leeds Player & Farsley Boss Neil Parsley said in today's Yorkshire post that he expects the take over to be announced before tonight's friendly.

Parsley is an Ex Leeds player and played under Warnock at HTFC, not sure if the bloke is in the know or trying to shift tickets for the game.

http://www.yorkshireeveningpost.co....y-expecting-plenty-of-friendly-fire-1-4756893

“There’s also a lot happening down at Elland Road at the moment and hopefully there’s some news on that before the fixture comes which would really nail the event for us.
“I expect something to happen before the game from what I’ve heard.”
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I'm supposed to be going to the East Coast for the weekend with the other half, I'm tempted to ditch it to go the Farsley game to make sure I don't miss out on the party if it happens. However if I do that and there is no announcement I'm going to have some serious leg work to do to make it up to the boss.
 
Phil Hay of the YEP reporting that Leeds have agreed to a fee with SK Brann for defensive midfield cult hero Rodolph Austin. If you don't know about him, check The Scratching Shed and HowsonIsNow, as well as their twitter accounts, because this guy looks the goods. Got cult hero written all over him.







Not a huge goalscorer but scored once in each of his last 2 games for the club.
 
According to ITV News the High Court will announce their judgment on the LUFC vs West Yorkshire Police Court Case today. If they are correct & it is today another potential "unknown" will be taken out of the take over equation.

http://www.itv.com/news/calendar/update/2012-07-24/court-to-rule-on-leeds-united-policing-row/



A dispute over who should pay for policing of matches at Leeds United's Elland Road stadium will be decided today. The Championship side has asked London's High Court for a decision on which of the services deployed by West Yorkshire Police for the last three seasons were special police
services, whether it was entitled to be repaid for services it says were wrongly categorised. The litigation involves policing in the extended footprint of land around the stadium that is not owned or leased by the club.
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A couple of other transfer tidbits (courtesty of ESPN)

Leeds have confirmed the arrivals of striker Andy Gray and goalkeeper Jamie Ashdown on free transfers. Gray, who began his career at Leeds, was released by Barnsley at the end of last season, while Ashdown was freed by Portsmouth after their relegation to League One.​

Leeds have signed Portsmouth striker Luke Varney on a two-year contract and has also agreed a deal to bring Jamaica international Rodolph Austin to Elland Road from Norwegian club SK Brann.​

So there's that 3rd keeper you were thinking about HoneyBadger35
 
1-0 Win over Burton Albion to end the pre-season games undefeated. League Cup match against Shrewsbury 3 days away and game against Wolves only 10 days away! Getting Excited!
 
"The Leeds United Supporters Trust can confirm that the deal to buy the club has now collapsed.
We will be making a more detailed statement later on today once we have had the chance to establish more." :mad: ​
 
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