Ken Bates to challenge sale of Leeds United

[Rick]

http://home.skysports.com/list.aspx?hlid=475775&CPID=11&clid=2&lid=5&title=Bates+makes+legal+threat

Looks like if he doesn't get his toy he's quite prepared to try and pull the plug on it.

Thing is he put the club into Admin so he has to go through the proper channels now. It's his own fault and if KPMG sell the club to another bidder I can't see that he has a leg to stand on to stop the sale going through.

One thing that is certain is that this will drag on and on seriously ****ing up Leeds preparation for the new season which can only be a good thing for football :D

[Jamaica Love]

Thing is he put the club into Admin so he has to go through the proper channels now. It's his own fault and if KPMG sell the club to another bidder I can't see that he has a leg to stand on to stop the sale going through.
:D

He did go through the proper channels and his bid was ratified and approved by the administrators so i would say that legally he has more than a leg to stand on!!! He should be allowed to state his case at the court hearing, so if it is sold before then, it make a mockery of the whole system!!

[Jantje]

The court case has been put back to Sept 6 though so how can they satisfiy the football league that they can fulfil their fixtures if they don't know who the owners are.

[Rick]

Come on, everyone knows he was pulling a fast one in order to clear debts like Leciester City. He's been called though as there clearly wasn't something right why creditors were voting for Ken Bates who was offering them less money but rejecting those who were offering more.

He didn't want it challenging because they would investigate it further but anyone could see something dodgy was going on.

[Jantje]

You're right, he was as he obviously manufactured the vote so he would win but he didn't realise the Revenue would not accept his, derisory offer, he then panicked and tried to placate them by offering more which showed how sly he was being in the first place and the Inland Revenue refused to fall for it and called his bluff.

This has made KPMG start acting like they should have done in the first place and invite offers

[terrynewpack]

According to this
http://football.guardian.co.uk/News_Story/0,,2121999,00.html

Bates is still the favourite.

[Rick]

According to this
http://football.guardian.co.uk/News_Story/0,,2121999,00.html

Bates is still the favourite.

That basically confirms Bates is pulling a fast one by hiding information from others in order to regain control.

[Parrot]

That basically confirms Bates is pulling a fast one by hiding information from others in order to regain control.

Maybe he's been getting advice of our very own JR? :rolleyes:

[Tarty]

Can't see Master Bates winning this battle. The club will go to someone else today and then Bates will try and take the administrators to court. Maybe the taxman should look at the money Bates will be sending to his off shore bank accounts

[king billy]

Maybe the taxman should look at the money Bates will be sending to his off shore bank accounts

Why - what concern is it of there's - and anyone elses?

Thats what offshore accounts are for....


Can't believe folk are criticising Bates for what he's doing - our very own knight in shining armour did exactly what he's trying to do - in fact worse, and moreover he did it twice!!

[Jamaica Love]

Can't believe folk are criticising Bates for what he's doing - our very own knight in shining armour did exactly what he's trying to do - in fact worse, and moreover he did it twice!!
Couldn't agree more...bates has fdone nothing illegal. The admisntrator will not be able to sell the club to anyone else cos they know they are well fooked if the do. Bates will get leeds and those criticising him on here are bonkers....people in glass houses etc!

[Tarty]

Bates shafted those that were owed money by Leeds, everyone knows that. He changed the CVA (according to the Leeds site) twice since he made the 1p in the pound offer, and eventually offered the taxman 8p in the pound something he could have offered the rest of those owed money. Now he is saying that he is bidding for the club and the only offer is the original one.........so what happened to this 8p one?

Even if he gets the club he is now going to have to offer more than the 8p in the pound. He is also trying his bully boy tatics by saying that if the administrators don't accept my offer I will take them to court

[sweetcakes]

I love Ken and i think he is doing a super job long reign King Ken :D

[king billy]

Bates shafted those that were owed money by Leeds, everyone knows that. He changed the CVA (according to the Leeds site) twice since he made the 1p in the pound offer, and eventually offered the taxman 8p in the pound something he could have offered the rest of those owed money. Now he is saying that he is bidding for the club and the only offer is the original one.........so what happened to this 8p one?


Rhodes shafted many small businesses during our two administrations, some of them through loyalty worked for the club again after the 1st admin - to then get shafted again by Rhodes during the 2nd admin....
Small businesses went bust during our two admins - i know a couple of people affected, as does Wisey - as i'm sure do others on here.....
8 pence in the pound is a hell of a lot more than Rhodes offered many of our creditors....the fact that he didn't offer that much at first is good business, why play all your cards when your negotiating?
He's bluffing about withdrawing the 8p offer to try and get the Inland Revenue back onside, as far as i'm aware the other rival bids aren't prepared to match that offer - again, pretty good business practice if you ask me....

Love or hate (and we all hate) L**ds - they're not doing anything we haven't already done.......twice......
Stones and greenhouses!!

His personal wealth BTW has nothing to do with any of this.....

[Tarty]

Rhodes shafted many small businesses during our two administrations, some of them through loyalty worked for the club again after the 1st admin - to then get shafted again by Rhodes during the 2nd admin....
Small businesses went bust during our two admins - i know a couple of people affected, as does Wisey - as i'm sure do others on here.....
8 pence in the pound is a hell of a lot more than Rhodes offered many of our creditors....the fact that he didn't offer that much at first is good business, why play all your cards when your negotiating?
He's bluffing about withdrawing the 8p offer to try and get the Inland Revenue back onside, as far as i'm aware the other rival bids aren't prepared to match that offer - again, pretty good business practice if you ask me....

Love or hate (and we all hate) L**ds - they're not doing anything we haven't already done.......twice......
Stones and greenhouses!!

His personal wealth BTW has nothing to do with any of this.....

I see what you are saying, but we all know that Bates is a conman and only in the game for money. Look at when he was sniffing around Sheffield Wednesday..........

From what I have heard on the grapevine, Bates offer isn't been considered but apparently they are only 2 bids in and one of them must include Bates original offer, and if Redbus have put a bid in what happened to him from Hull?

In all honesty most of the people in football now are only in it for the money. Why did Bates go to Leeds when he could have gone to a smaller club (like Scarborough), and help them out? The only problem with football now is that it is all Premier League this and premier league that, what about the lower division clubs that were shafted by ITV Digital? Scarborough's plight wasn't helped by ITV Digital going bust.

[king billy]

In your world - do you honestly believe that football chairman don't have their own interests at heart?...

Stop being so naive - whilst lower league football aint going to make much, if any money - i can guarantee that almost all premier league - and championship chairmen are in it for their own personal gain, as the American and other foreign investors have shown......the premier league chairmen are living the dream, and the championship ones are chasing it.....its only down at this level where this doesn't really apply - and even then most do it for their love of the power or control, or as a hobby - you'll probably only find a handful who do it for the pure love of the club or the game...!!

L**ds were in shitloads of debt and needed someone - Bates was the only one around, they have the potential (debt free) with their crowds to make money, and Bates obviously wants to try and harness this, as he did at Wendy.....the L**ds fans i know will not begrudge him one penny if he turns the ship round and sorts things out!!

Why the major concern anyway?....:confused:

[Tarty]

I'm not saying that football chairman don't have their own interest at heart, but Bates took over Leeds with the debt that they had. He could have gone to Sheffield Wednesday who had debts, but where slightly lower than the debts Leeds had. In all honesty if the right person went into Sheffield Wednesday, then they could in all fairness be back in the premiership.

[king billy]

WTF are you on about now?

Bates = dodgy, in it for his own good, prepared to use loopholes to reduce debt, wanting to turn around a large club, in trouble, but with potential to make financial gain himself!

L**ds = extremely desperate, dying on its feet, looking for someone to turn the ship around!

Thats the bottom line....

Wednesday decided they weren't that desperate enough to take up Bates' "offer" - they are slowly but surely getting out of debt on their own accord and in a relatavely honourable (compared to us) way....

[Tarty]

Just had another thought

If Bates loses this "bid" for Leeds and decides to go to court, then surely Leeds wouldn't be able to start the season, as doubts would be shown that Leeds might not be able to complete it's fixtures.

Now if Bates wins this "bid" then wouldn't Inland Revenue continue it's court case as Bates has stated that the CVA would be the same

[wellers]

I think what rankles the most is that at the same time as offering a penny in the pound, Bates and Wise were talking about strengthening the squad.

Now, what goes through the mind of a creditor who sees the person who owes you a not inconsiderable amount of money talking about going out to spend money on wages and transfer fees if you agree to the offer being made?

Bates has tried to play his creditors for fools - we weren't in a position to talk about saving the club and then going off to buy in players or sign high wage earners. After we survived we carried on scrimping and saving - Bates talks of investment.

Surely if there's money available for investment there's money available to pay tax and everyone else?

[Tarty]

Whats more interesting is that those that have already bought season tickets might not get their money back if Bates loses control. The money is been held in an account that Bates holds

Anyway the latest:

2.44pm - Fresh speculation arises suggesting Adam Pearson did not submit a bid. More follows.

2.35pm - Latest indications are that there are four bids on the table.

[Tarty]

5:48pm Speculation grows the situation could take as long as three more days to resolve although some experts believe the situation could be concluded by lunchtime tomorrow.

Leeds don't have 3 days do they? I would have thought that even "if" Bates won this battle to take over the club, then wouldn't the CVA need to be agreed again? If so then it would be another month before the CVA is finalised as people can appeal.......

I might be wrong but I thought that the CVA had to be agreed and past the appeal stage before the football league would agree

[wykie]

Leeds don't have 3 days do they? I would have thought that even "if" Bates won this battle to take over the club, then wouldn't the CVA need to be agreed again? If so then it would be another month before the CVA is finalised as people can appeal.......

I might be wrong but I thought that the CVA had to be agreed and past the appeal stage before the football league would agree

They are not going for a CVA the administrators are selling to the highest bidder. Not sure of the legal niceties but it would feck bates who is my favorite to win as he has done such a good job already or bring back Ridsdale tup:

[Tarty]

They are not going for a CVA the administrators are selling to the highest bidder. Not sure of the legal niceties but it would feck bates who is my favorite to win as he has done such a good job already or bring back Ridsdale tup:

Not sure either, but I would have thought that as the club had gone back on sale, then everything would have to be agreed again. Just thinking about what happened when Bates got control of the club the first time. Surely someone on here must know

[wykie]

Not sure either, but I would have thought that as the club had gone back on sale, then everything would have to be agreed again. Just thinking about what happened when Bates got control of the club the first time. Surely someone on here must know

Who really cares:p

[Tarty]

Who really cares:p

What I'm not allowed to ask a question now?

[baldbantam]

<Off topic posts removed>

[Jamaica Love]

Not sure either, but I would have thought that as the club had gone back on sale, then everything would have to be agreed again. Just thinking about what happened when Bates got control of the club the first time. Surely someone on here must know
You are correct, the new winner will once again have to agree a CVA.....something any new bidder will find very difficult!! I fully expect a bates win on this one!

[sweetcakes]

If Bates wins will he still have to fork out the 7million to the IR ?

[Jamaica Love]

If Bates wins will he still have to fork out the 7million to the IR ?
No..the CVA will be renegotiated and will probably end up with a court action that the HMRC can not win! He will however have to poay more than 8p in the pound - i suspect

[Tarty]

No..the CVA will be renegotiated and will probably end up with a court action that the HMRC can not win! He will however have to poay more than 8p in the pound - i suspect

Probably, but they would still have to give that months appeal time, which I doubt the football league would be happy about. Then again as someone has mentioned before, this is Leeds we are on about and no doubt the football league will bend over backwards to help them

[Jamaica Love]

Probably, but they would still have to give that months appeal time, which I doubt the football league would be happy about. Then again as someone has mentioned before, this is Leeds we are on about and no doubt the football league will bend over backwards to help them
The FL will always bend over backwards to try and help clubs survive....they did more fir us than they will for leeds, remember when they gave us a loan to pay our players!!!!

[baldbantam]

The FL will always bend over backwards to try and help clubs survive....they did more fir us than they will for leeds, remember when they gave us a loan to pay our players!!!!

That was the Professional Footballers Association, not the Football League.

[Rick]

According to the CVA that Bates proposed, the Football League were owed
£188,413 and the FL voted against the CVA as they were offered the same as everyone else. Now I was always led to believe that football creditors were to be paid 100% of monies owed otherwise they would be be kicked out of the league.

It has also emerged that KPMG haven't bought the club for £1 as yet and the Bates CVA and court case with the IR still stands, thats why there is such a delay.

[Jamaica Love]

It has also emerged that KPMG haven't bought the club for £1 as yet and the Bates CVA and court case with the IR still stands, thats why there is such a delay.

Thats why i think that bates will win. Surely for a club to be sold the offre has to be accepted... WOuld bates accept said offer, i doubt it.....Cant wait to see what will happenn, iots very interesting from a business point of view....and form the point of view of laughing at local rivals......:D :D

[Tarty]

I still can't understand why Bates will go to court if his bid fails. End of the day the administrators are going to look at what is best for the club. Redbus were apparently close last time before Bates managed to get control, now Redbus have joined forces with someone else, Bates could find himself out of pocket.

Don't forget before the IR went to court, Bates more or less said if anyone appeals against the CVA I will take them to court............er no Master Bates thats called intimidation.

You are right about the football debts having to be paid in full though, and I always thought that the IR had to be paid in full as well