Intersting post on another board that got people thinking that due dilligence was being carried out at ER. It turns out that the DD was done last year when Bates was looking for a loan to redevelop the East Stand. Remember he once said to us, "you can't borrow money for players only for bricks and mortar". Well he obviously couldn't get the loan from the institutions so forward sold 2 years of season ticket sales.
Why did he do it, what was so important about redeveloping something that we (Apperently) don't own. Why, why, why when if he had have not syphoned off our money he could have invested in some players and gave us a shot at getting promotion. Promotion would have guaranteed him plenty of cash to redevlop and on top of that nobody will use the new boxes and the price he wants, not in this league because businesses hospitality works when seeing a great product, and championship football is garbage compared to prem.
But if he was in a rush to redevelop he had to have a big reason for breaking the bank and probably the club to do it. WHY
Why The Rush To Redevelop
posted on 12/6/12
Doc have you read Lionheart's posts?
#87 onwards
http://www.waccoe.com/index.php?showtopic=234745&st=80
posted on 12/6/12
Roz not seen any as i have trouble getting onto that site. Whats the jist of it
posted on 12/6/12
You have to register to look on there, I think, but apparently he's known by a few and one of the administration creditors. Talking about stuff to do with Astor, vanishing 17millions etc. All soars over my head really, but I like to read a lot and pick up a bit.
posted on 12/6/12
roz...can you copy & paste bits of it ?
posted on 12/6/12
The issue about redeveloping the ground makes no fooking sense at all to anyone in business. It makes no sense to the fans because they see gates falling week after week, so these boxes are either being given away at a loss or sit empty. So why do it when the money it took could have been used on the team. Some will say they increase revenue streams on non match days, but thats tosh as nobody's using them when every hotel in leeds has capacity and fighting to let space for meetings. Why do it when we don't even own it because it only adds value to the property which someone else owns ffs.
We're missing something here
posted on 12/6/12
my belief is that ER & TA is owned by master
posted on 12/6/12
Yes H, I've harboured similar thoughts for a while.
Doc, he wants promotion as this is the time he'll capitalise on his "investment". He just doesn't have the cash (allegedly) or the inclination to pay for it. No guarantee I guess.
As a businessman it makes no sense to me either that he is borrowing against future ticket sales to fund improvements to the infrastructure when demand isn't there.
The casino piece from Harvey suggests that they don't expect promotion for a couple of seasons at least.
Perhaps he intends to "buy back" ER and TA sometime soon before selling up lock stock and barrel. A better ground would command a larger price. That's as much sense that I can make!
posted on 12/6/12
Harj to be honest, there's lots of stuff - all spread over two threads: one about Letter to Lorimer and another that started and is titled about Bates' moles on the site.