Dirty Leeds at it again!

[Dour]

defrauding by allowing it to rack up and then folding the company?

that's not defrauding, that's just what every shyster businessman does

agreed, they're gonna be pissed off, but all they can do it demand income tax as quickly as possible from leeds (and others) in the future and threaten clubs with court ASAP

i'm of the opinion they have broken NO RULES WHATSOEVER

if someone wants to prove me wrong, quote me the law they've broken...

There's a whole series of rules for phoenix traders and contrived liquidations and administration in various Finance Acts.

 

[fludie]

We all hate Leeds Scum!!!!!!!!!!!!

 

[Nottingham Fox]

A little bit too late !!

From BBC

 

[Dour]

1p in the £ payout, I see. Bates is playing a very confrontational game with the revenue.

 

[Boy Genius]

A little bit too late !!

From BBC

I am totally against these points deductions, as it affects the fans more than anything else. It also ensures the team is as good as relegated and there for the chance of a buyer is much reduced.
10 points off was the easy way out for the top brass to come up with, it shows there was very little if any thought put into it.
There could have been other ways to penalise the club, such as transfer blocks or even kicking them out of cup competitions for a while.

The FA and football League should just concentrate on the footballing matters, not how the club is ran. They will deduct 10 points for going into admin but only a small fine for playing an illegally registered player, or a full scale pitch invasion which holds the game up for 30 minutes. Just does not seem right

 

[OldGit]

I am totally against these points deductions, as it affects the fans more than anything else. It also ensures the team is as good as relegated and there for the chance of a buyer is much reduced.
10 points off was the easy way out for the top brass to come up with, it shows there was very little if any thought put into it.
There could have been other ways to penalise the club, such as transfer blocks or even kicking them out of cup competitions for a while.

The FA and football League should just concentrate on the footballing matters, not how the club is ran. They will deduct 10 points for going into admin but only a small fine for playing an illegally registered player, or a full scale pitch invasion which holds the game up for 30 minutes. Just does not seem right

I agree. Also the fact that it is automatic allows no consideration of different circumstances.

And why only administration? Surely any form of voluntary arrangement with creditors gives the same "advantage" - like Derby's bank writing off £15m, or Wolves ownwe writing off £40m. If the authorities sought to impose some standards of financial management and pulled offenders up at an early stage, long before they became in danger of collapse, that would make more sense - though whether it could be enforced I very much doubt.

 

[OldGit]

Did any one hear Mottie's comment after the cup final? - I understand Denis Wise is in the ground"

If only.........

 

[MHS]

Made me feel sick to the stomach, seeing that tosser get a hero's reception at Wembley yesterday.

 

[fox58]

Did any one hear Mottie's comment after the cup final? - I understand Denis Wise is in the ground"

If only.........

 

[MKFox]

Did any one hear Mottie's comment after the cup final? - I understand Denis Wise is in the ground"

If only.........

 

[Lako42]

Made me feel sick to the stomach, seeing that tosser get a hero's reception at Wembley yesterday.

the real reason is the same one as to why id give him a heros reception. cheers dennis

 

[Hazzman]

http://blogs.guardian.co.uk/sport/2007/05/29/leeds_leave_creditors_clinging.html

Hmm....look at them figures of debt....very worrying article for Leeds fans

 

[Dour]

http://blogs.guardian.co.uk/sport/2007/05/29/leeds_leave_creditors_clinging.html

Hmm....look at them figures of debt....very worrying article for Leeds fans

Looks like probably only around £15-20 million of genuine debt to me - the stuff owed to the 2 unknown offshore companies is pretty implausible. It was only at the start of the season that Blackwell was suggesting the club would be debt-free by now.

I don't think Bates expected another offer to come in - it's now difficult to see how his offshore companies can accept a lower figure without it looking like blatant fraud.

 

[Darth Vodka]

Looks like probably only around £15-20 million of genuine debt to me - the stuff owed to the 2 unknown offshore companies is pretty implausible. It was only at the start of the season that Blackwell was suggesting the club would be debt-free by now.

I don't think Bates expected another offer to come in - it's now difficult to see how his offshore companies can accept a lower figure without it looking like blatant fraud.

where did Bates get the money to these offshore accounts? laundering? why chuck it all at Leeds unless you want to lose it?

and i right in thinking that the creditors have to agree by a majority (of the debt presumably) before a rate is paid

do they still have any players worth selling?

 

[Real Sharapova]

where did Bates get the money to these offshore accounts? laundering? why chuck it all at Leeds unless you want to lose it?

and i right in thinking that the creditors have to agree by a majority (of the debt presumably) before a rate is paid

do they still have any players worth selling?

75% by value of creditors have to agree - hopefully HM Revenue & Customs ( owed £7 million ) will tell Bates where to stick his penny in the pound offer.

 

[Dour]

where did Bates get the money to these offshore accounts? laundering? why chuck it all at Leeds unless you want to lose it?

Bates has his own money, not least from the sale of Chelsea and his Irish Bank fraud, and that is mostly offshore in one place or another, I imagine.

And the big question is whether he has really chucked his own money at Leeds. There's at least 3 things that you'd want to know: did all this money actually came in from the 3 shadowy sources (the paperwork might be there but did the cash follow) or is a series of paper debts (excess interest charges, payment default charges); have they been compensated out of club coffers (management fees, administration charges etc.); and has Leeds income, especially player sales, been passed directly to them through another vehicle (so they've effectively been repaid anyway.

My bet is that it's a mixture of the 3 and Bates's cash input is actually quite modest - enough to be easily recovered by a sale of Leeds for, say, £10 million.

 

[fox58]

there having a re-count on the votes Bates got 75.02% to back his proposal to pay 1p in the £

 

[Dour]

Plus legal action promised from some of the other spivs circling - this one could run and run.

Going by the figures, IRCE were (unsurprisingly) against. Given the circumstances, Bates's files will almost certainly have been shoved across to the Investigation Divisions. And, although I doubt they'll be able to gather enough to pin him on this, I'd expect representations to the League and, since they'll probably now go through airline tickets and other stuff looking for collusion, a challenge to his residency status at least.

And, as a real bonus, there's the chance that administration won't be sorted and they won't be allowed to play in League 1.

 

[fox58]

Plus legal action promised from some of the other spivs circling - this one could run and run.

Going by the figures, IRCE were (unsurprisingly) against. Given the circumstances, Bates's files will almost certainly have been shoved across to the Investigation Divisions. And, although I doubt they'll be able to gather enough to pin him on this, I'd expect representations to the League and, since they'll probably now go through airline tickets and other stuff looking for collusion, a challenge to his residency status at least.

And, as a real bonus, there's the chance that administration won't be sorted and they won't be allowed to play in League 1.

that would be the best possible scenario but its to good to be true

 

[RHYDAL]

http://news.bbc.co.uk/sport1/hi/football/teams/l/leeds_united/6723301.stm

So what would the proceeds of a Leeds boot sale get you on today's transfer market?

If they can't afford a decent manager then Div 4 beckons.:icon_bigg