Ownership

[caelan]

So, not being a Leeds fan myself, I can't give a blow by blow account of the different ways your club has been kicked in the teeth by your owners recently, but you don't really need to be involved to see that one of England's biggest clubs is being treated like a millionaire's toy - and a neglected toy at that. But your fan base is still impressive, and the passion and commitment of Leeds fans isn't questioned by anyone. Which raises the question, why are the fans not attempting to buy the club, to get control for the fans? Of course it isn't a case of a couple of quid put in a tin, but the funds could be raised over a period of time. I'm sure thousands of fans would be happy to set up a small direct debit to help take the club back for the fans, and every week 25,000 potential donors congregate in Leeds. Its a fund raiser's dream. Anyway I have no vested interest in this, just wondered why it isn't happening.

[NottinghamWhite]

Firstly welcome to the forum To try and answer your question Leeds fans like to moan about everything that's wrong at the club but are very lethargic in actually getting off the rears to do anything about it. During The Bates tenure we took a lot from him such as building a white elephant in the east stand to attract more corporate business, selling off our prized players and generally lying through his teeth before the fans marched to Elland Road demanding Bates resigned.

I feel the main reason that things will never take off is that a lot of Leeds fans don't actually live in the city and those that do can't be bothered. It is the fan base that may be the problem in trying to get anything of substance going.

[Aces]

Hi mate and welcome also.

Just trying to do some number crunching and just say 50,000 fans signed up to put in an equal amount of money, they would have to stump up approximately £1,000 each to get a total of £50 million pounds. I'm not certain that is enough to buy the club, run it and have plenty over for transfers. Now that isn't an impossible ask, but it is highly unlikely 50,000 fans can give that amount, or want to. Would be nice though.

[johnh]

There is an interesting article in the Telegraph Sport today (full page) on Leeds United ownership. A fair chunk of the article covers the history of ownership but also analyses what the author thinks is required for any takeover. He (Henry Winter) suggests that Leeds loving 'multi-millionaires' who live in the area should join forces. In this respect he does acknowledge the consortium Together Leeds. He calculates that to buy Leeds, including Elland Road and Thorp Arch would involve a first year cost of £90m. He then adds that 'a return to the Premier League would be worth £100m minimum. Good article, worth a read.

The £90m figure includes £10m summer transfer budget which I think is an under-estimate.

[Mellor]

I think Winter's article shows why folk don't invest (although he argues the opposite cos he takes no real account of risk) and for me at least confirms that only an investor with pots of money he/she is prepared to gamble and lose can take us on and make a 'step change' in our fortunes. That type of investor often comes with baggage, from abroad, not Yorkshire I fear.

Alternative is kids, a policy we seem to be following almost by accident. Happy with that.

Always sees the best in us Winter, which is both unusual and nice. That said there's a great deal of sympathy for us and our plight in the media just now.

[johnh]

I think Winter's article shows why folk don't invest (although he argues the opposite cos he takes no real account of risk) and for me at least confirms that only an investor with pots of money he/she is prepared to gamble and lose can take us on and make a 'step change' in our fortunes. That type of investor often comes with baggage, from abroad, not Yorkshire I fear.

Alternative is kids, a policy we seem to be following almost by accident. Happy with that.

Always sees the best in us Winter, which is both unusual and nice. That said there's a great deal of sympathy for us and our plight in the media just now.

Any business is about risk and reward. With football there is, traditionally, a higher 'risk' than 'reward'. The Yorkshire multi-millionaires still count the pennies.

[Deleted User 1076]

So, not being a Leeds fan myself, I can't give a blow by blow account of the different ways your club has been kicked in the teeth by your owners recently, but you don't really need to be involved to see that one of England's biggest clubs is being treated like a millionaire's toy - and a neglected toy at that. But your fan base is still impressive, and the passion and commitment of Leeds fans isn't questioned by anyone. Which raises the question, why are the fans not attempting to buy the club, to get control for the fans? Of course it isn't a case of a couple of quid put in a tin, but the funds could be raised over a period of time. I'm sure thousands of fans would be happy to set up a small direct debit to help take the club back for the fans, and every week 25,000 potential donors congregate in Leeds. Its a fund raiser's dream. Anyway I have no vested interest in this, just wondered why it isn't happening.

Normal people buying a club like Leeds is pretty unsustainable.

[johnh]

'A business without owners'. That is how the Telegraph Sport described Leeds United in the match report v Bournemouth. It said that not a single Leeds United Director attended the match last night. The club was represented by Dominic Matteo, ex player.
Where was Haigh? He is full time CE now so there should be no other distractions. What the hell is going on.

[Sheepy]

It gets better, now it seems they are arguing about who should pay the wages:

http://www.yorkshireeveningpost.co.uk/s ... witterfeed

Gulf Finance House and prospective Leeds United owner Massimo Cellino are today locked in last-minute talks about funding the club’s wage bill for March.

The YEP understands that the two sides are attempting to thrash out a deal to meet salaries due on Friday morning following a suggestion from manager Brian McDermott that staff at Elland Road fear they will not be paid.

McDermott appeared to point to impending and immediate financial problems at Leeds following the Football League’s decision to reject Cellino’s £25m buy-out of the club on Monday.

Talking after a 4-1 defeat at Bournemouth last night, the United boss said: “There’s all the talk of who’s going to be in (as owner), talk of who’s going to be paid. I’m not going to make excuses but it does affect (results).”

Asked if he thought there would be difficulties with paying staff this month, McDermott said: “I don’t know. I really don’t know what the situation is.

“That comes up on Friday or Monday, whenever it turns up. Hopefully it can be resolved.”

GFH, the Bahraini bank which is attempting to sell a 75 per cent stake in Leeds to Cellino, believes the agreement it reached with the Italian businessman in January committed him and his company, Eleonora Sport Ltd, to funding United’s operating costs for a six-month period.

But Cellino, who has already injected substantial amounts of money into Leeds, is understood to be unwilling to provide any more cash while he waits for the Football League to hear an appeal against his failure of the governing body’s Owners and Directors Test.

Cellino’s buy-out was rejected by the League’s board on Monday morning after it ruled that a conviction for tax evasion imposed on the 57-year-old by an Italian court last week disqualified him from buying United.

He told the BBC this week that Leeds needed immediate investment, saying the club required “help, blood and money” in “hours, not days.”

GFH is looking to reach a solution today and ensure that funds are in place tomorrow morning, in time to meet the wage bill on Friday.

GFH was asked by the YEP whether it was in a position to pay the staff at United. A spokesman for the bank declined to comment.

[Spiderman]

With one or two exceptions the players don't deserve to be paid, their contract states that they PLAY football for Leeds United, I have not seen much evidence of them playing recently.