baildon blue wrote:
Well nobody else was going to put any money into leeds so leeds would have gone bust.I didnt see any other people prepared to buy leeds .Bates was wrong to lose 15 points 4 leeds in 2nd division he should have stumped up the cash then but who are we to tell bates what to do when hes wealthy man.
100% rubbish post something which proves this opinion
.I asked exactly when did Bates "save Leeds from going bust", I see you are unable to answer.
You say "nobody else was willing to buy Leeds", when was this the case?
It's clear you don't understand the situation at Elland Road so I'll help you out with facts rather than opinion.
When Ken Bates took control of Leeds United following administration in the Summer of 2007 there were multiple bidders. This is detailed in the letter from KPMG (administrator) to the creditors of LUFC (see link) http://www.scribd.com/doc/44754152/KPMG-Letter-to-Creditors-Admin-2007
see page 3
six interested parties had submitted proof of funds and or made offers
see page 4
four offers all of which were subject to confidentialty clauses were received by the deadline of 5pm 9th of July 2007
So just to be clear multiple bidders demonstrated proof of funds (put their money up) & signed confidentiality clauses. This info comes from the appointed administrator KPMG, do you accept this as fact or not?
If we turn the clock back even further to Jan 2005, Bates claimed he didn't purchase a controlling interest in LUFC, that he was just advising an investment fund. Again however Bates wasn't the only party looking to cough up to buy Leeds United.
Here are the facts, Sebastian Sainsbury put together a consortium to purchase Leeds, they invited Bates to be a part of it. Bates gazumped the consortium skipped due diligence, and conducted what Bates describes himself a "cloak and dagger operation to purchase LUFC. The details of which are described by Bates in an interview with the Daily Telegraph which can be read here http://www.telegraph.co.uk/sport/football/2354744/How-Bates-took-over-at-Leeds.html
Prior to Bates LUFC faced receivership (Club forced into admin by creditors), Bates put LUFC into admin anyway in 2007 he just manged to double the debt. Only Bates threatened liquidation.You have mentioned that Bates saved LUFC when nobody else was willing to put their hand in their pockets, you have been unable to post any proof to back this comment up. I on the other hand can provide proof that this isn't and wasn't the case..