Is it time to turn on Cellino?

[dlw10]

Too often these days folk are ignoring the facts and instead peddle unsubstantiated ideas that cast doubt on the facts and tend to taint actions that , if we stuck to the facts, are sound! It happens all the time on Twitter but am surprised to see it start to creep in on here!

[Another Northern Soul]

What facts are people on here overlooking then Dave?

[rss1969]

I see sets of accounts every day of the week.

It is common practice for a business to pay people 'a wage' and deduct it as an admin cost................especially as most self employed people are now gravitating towards Ltd Co status..............even very basic admin people are under this guise.

As long as you have the relevant invoices to prove what you have paid, it will then go under admin and not wages..............nothing unusual at all in this.

Not pointing the finger, just what I see every day.

[isrodger]

There isn't a person on this forum that would lend or invest money to a bank or other financial institution and not expect a return on investment. Plucking out Santander as the example I am sure a few have lent or invested £10,000 maybe £20,000 to get a 3% return. Would it not then be acceptable for Cellino to get a similar return from his £30m plus loan/investment.

[Another Northern Soul]

Why would anyone lend or want to lend money to a bank? I'm lost.

[Deleted User 2299]

There isn't a person on this forum that would lend or invest money to a bank or other financial institution and not expect a return on investment. Plucking out Santander as the example I am sure a few have lent or invested £10,000 maybe £20,000 to get a 3% return. Would it not then be acceptable for Cellino to get a similar return from his £30m plus loan/investment.

No.

LUFC with a 30 million debt is worth X - 30 million because of the debt. If he "loans/invests" in the company he owns, who pays back the 30m loan? we do, the fans!

So after we pay off his loan/investment, LUFC will be worth X + 30 million from the time he bought us, who gets the extra 30 million at the time of sale, Cellino, so he gets it back twice!

He should give his club the 30million and only get it back at the time of sale IMO.

It really is like he bought Leeds and we are paying his mortgage for him.

[Sniffer]

Why would anyone lend or want to lend money to a bank? I'm lost.

If you've got a savings account then you're lending the bank your money for an interest return.

[Another Northern Soul]

Why would anyone lend or want to lend money to a bank? I'm lost.

If you've got a savings account then you're lending the bank your money for an interest return.

Doh

Still, it's not really the same anyway, I'm not a 'lender' who is claiming to have bought an institution and saved it, and I'm not making the bank's debts more manageable but still, MORE full stop.

[Deleted User 2747]

There isn't a person on this forum that would lend or invest money to a bank or other financial institution and not expect a return on investment. Plucking out Santander as the example I am sure a few have lent or invested £10,000 maybe £20,000 to get a 3% return. Would it not then be acceptable for Cellino to get a similar return from his £30m plus loan/investment.

Is LUFC a financial institution? I wouldn't consider it to be so.

We all buy things, some have more money and they buy bigger things, mostly we expect to use them and they deprieciate. No one is entitled to making a profit on anything! When buying a business, then there is always an accepted element of risk. Cellino didn't do his due dilligence, he was obviously prepared to take that risk and then some.

If anyone of us bought a business or a second hand car or house etc, without having it checked then, we would be lucky if it didn't cost us some money to improve it. If we then made money on a re-sale that would be due yes to our hard work and investment, but there is no guarantee, right or entitlement to make a profit! Very often just breaking even, is what people will be happy with, especially if they encounter problems that they weren't aware of.

We need to get out of this mindset that somehow, business men and money men have some kind of God given right to make money! They have no more right that anyone else!

[dangermouse]

There isn't a person on this forum that would lend or invest money to a bank or other financial institution and not expect a return on investment. Plucking out Santander as the example I am sure a few have lent or invested £10,000 maybe £20,000 to get a 3% return. Would it not then be acceptable for Cellino to get a similar return from his £30m plus loan/investment.

No.

LUFC with a 30 million debt is worth X - 30 million because of the debt. If he "loans/invests" in the company he owns, who pays back the 30m loan? we do, the fans!

So after we pay off his loan/investment, LUFC will be worth X + 30 million from the time he bought us, who gets the extra 30 million at the time of sale, Cellino, so he gets it back twice!

He should give his club the 30million and only get it back at the time of sale IMO.

It really is like he bought Leeds and we are paying his mortgage for him.

Perfect summation of the situation Nesslin. Because Cellino stormed in without doing due diligence he has saddled the supporters with the cost of his foolishness and set the clubs development back by years. GFH are set up to feed off us for years to come. No would wonder they didn't want to talk to Mike Farnham and Together Leeds at the time. They couldn't believe their luck when a mug like Cellino showed up. Cellino made a huge blunder overpaying for the club in a typical act of impulsive bravado. He clearly hugely underestimated the cost of running a club like Leeds and had no idea of what it takes to get out of this league. In his arrogance he assumed it was just another Serie B. If he doesn't have the money or isn't prepared to invest the going rate to move a club from 18th position to top 6 at least then he should sell up, cut his losses and pay for his own mistakes like everyone else.