Leeds Going Bust?

It appears that the Taxman has called Ken Bates bluff and refused to accept his buy back scheme.
If the Taxman challenges this in court it will be bye bye Leeds United as there would be no one to fund the club during the months leading up to a court case.
Originally Bates had offered creditors 1p in the pound and then upped it to 8p but with the Inland Revenue being owed £7.7 million pounds in unpaid taxes it could well all end in tears.

Dont you just love it!!

 

Pmsl...

 

NEVER mess with the taxman. I don't wish any club to fold but Ken Bates I don't mind what happens to. Sad situation.

 

Ditto. Bang will go another big club with lots of history, just like Wimbledon.

 

But people did actually like Wimbledon. Nobody likes Leeds. I don't particularly want them to disappear, but I'm not going to cry if they do.

 

does anyone actually believe they will go bust? i dont something will happen and leeds will get away with it.

 

As long as Bates doesn't get away with it that'll do for me.

 

i hope bates get punished

but i would never hope any club fold, i hope leeds survive this-we may not like their fans but at the end of the day there just like us football fans who love their club with a passion

if leeds folded it would be a sad situation

 

But you know he will squirm out of it somehow

 

Leeds financial problems are a result of them paying stupid money for players a few years ago. Realistically to avoid bankrupcy they had to get promoted in the previous 3 years, which they didn't.

Thanks to us :]]

 

Latest statement from the club

http://www.leedsunited.com/page/NewsroomDetail/0,,10273~1067269,00.html

 

it sounds quite serious 'they are HOPEFULL of starting the next season'

hopefully they will be fine, theyll be able to start the season and be in the conference in a couple of years

 

Yeah, Wimbledon were truly massive club, with loads of history. They were up there with the likes of Man Utd, Real Madrid, AC Milan, and Barnet.

Hopefully one day we'll achieve the big club and history status that has always been associated with the giants that were Wimbledon :]]

 

Something in the news IF Bates sells to KM for a pound the club could be saved

 

What has everybody got against Leeds fans? I live in Bradford and know a lot of Leeds fans and they are really sound,also after we beat them in the play off final did anybody have problems with them i didn't.

 

Yes!

 

Please enlighten me.

 

A service station full of their fans singing "you're just a team full of nig*ers"
Yeah I have a problem with them.

 

Wonder if they would of been singing that to their faces?! I sincerely doubt it...

 

They are so arrogant!

I was away for the play off final, but managed to watch it on a big screen, in a hotel with a couple of Leeds fans.

While we all expect a bit of bravado, these guys were the pits - watching them deflate like a burst balloon was priceless, they slunk off after the second goal went in.

Mind you in fairness my comments about their team needing some strengthening if they were serious about a promotion push `next season` probably didn`t help (but how true that proved to be).

 

How about every one of them that spoke to me was just slagging off Watford and me for supporting them, or the 10 or so 'lads' that decided to surround me and a mate because we were messing about and singing Watford songs on the walk back to the train station?

 

When i was walking away from the ground after the play off final some leeds fans started shouting and swearing at two kids who wear wearing a watford wig and so on. the kids could only be about 7 or 8 and one of them started crying because of it. the other leeds fan were telling me watford are sh1t and we are going down and they will pass us on the way up. we bet them 3-0 but they gave us no credit and still thought they were a permiership club.

 

Yes but they do have a point, your voice can be a bit annoying sometimes

 

Nobody likes to see a club go under.

Like when Rotherham nearly did and ther were those collections and things.

But Leeds have always been such complete ******s that they deserve not to have a club. And Bates just puts the icing on the ****** yorkshire cake.

 

leeds supporters are grade a c*nts

can believe every post here - they were also having a pop at my sister pushing my dad in a wheelchair. but soon ****ed off when me & my brother turned up.

most northerners got a chip on their shoulder - but in leeds its something different.

 

even the girls were having a go - foul mouthed northern sl@gs

 

When clubs have been in serious problems and looked like going under there have always been collections and campaigns but there has been nothing for Leeds I have always disliked Leeds mainly due to their fans, the whole spend, spend, spend Risdale era and their 'big time charlie' attitude but when Masterbates brought them, my dislike certainly turned greater and then he brounght that Wise in as well!

It is always a shame when a club goes under but I can not see many people shedding a tear for them lot.

 

just reporting on ssn that they're now up for sale.

 

It's there only hope , and exactly what Bates was planning to do if the creditors had agreed to the 8p in the pound. He would have paid it all off and come the end of the year he would have sold it for a tidy profit (assuming they gained promotion )

Luckily the IR stepped in to scupper his plans . I dare say a consortium will come in and pay the mandatory £1 for it and then agree 25p in the pound to the creditors. What ever happens i hope that scumbag bates gets ripped off.

 

Looks like that's it for Bates...though don't forget he still controls a healthy minority of the creditors vote as nearly 30% is attributable to his holding companies. As 75% in agreement is needed for a takeover to be accepted he is the king-maker. If he accepts it he'll walk away will peanuts. But if he blocks it he loses altogether and Leeds go out of business...tough choices ahead for Ken.

 

I really hope Bates gets pushed out.

I cant help but wonder how much he engineered the administration with a view to wiping out the debts and making a nice tidy sum.

Bit like he did with Chelsea

 

The ex Chairman (Krasner?) reckons the bids need to be in my Tuesday, and there at least 2, possibly 3 bidders in the frame as well as Masterbates.

He reckons £5 million will be enough to buy the club, but £10-15 million will be needed to get through the first season.

Leeds will not go into administration - that would be like deducting points from West Ham.

 

I'll stick in a 10 pound bid

Seriously, its not nice to see another club in trouble, but leeds truly are scum, they're a dirty, horrible club and Bates is a tw*t, so i have no problem seeing their club go to pot.