Hopefully Not the Last Days of Leeds United
By: Daryl | July 7th, 2007
Just seven years ago Leeds United were contesting a Champions League semi-final, with the likes of Rio Ferdinand, Alan Smith and Harry Kewell wearing the famous white shirt. For the 2007/8 season the club will be scrapping it out in League One, the third tier of English football. If they still exist.
It’s a little complicated and I’m not sure I fully understand the business ins and outs, but I do know it’s not good. Leeds are in administration due to their Seth Johnson and goldfish related debts. They were expected to come out of administration last week with Ken Bates taking full control of the club, but Her Majesties Revenue and Customs (the tax people) are not impressed with Bates’ plan of repaying just 8 pence on the pound of Leeds debts and have challenged it in court. Unfortunately the court hearing isn’t until September and the League One season kicks off in August, and the league may not let the club kick off the season if they’re still in administration, which - if I’ve understood this correctly - could mean the end of Leeds United.
So, KPMG (the administrators) have put the club up for sale, with a deadline of 5 p.m., Monday July 9th. On the upside for potential buyers Leeds is a massive club with a big fan base and a great history. On the downside there’s all that debt. A few parties have mentioned being interested, but they’d have to get an offer in pretty sharpish. Maybe that Mike Tyson bid could be back on the table?
 |
Soccer Forums | Team/International Results |  |
 |  |
Category: England
Subscribe
|
Print
|
Share
      |
Comments are closed
Home 
