If Cellino's £25 million ....

It's just words - how much is a business with few fixed assets and an £11m a year loss worth? There's no formula to work that out, it's worth what people will pay for it

Let's see GFH sell it to the highest bidder out of the 20 credible bidders making offers at the moment - oops sorry, the queue don't exist does it

I always thought Ross was Doolally.

Ross McCormack says Leeds are a laughing stock but says Premier League is within reach | Mail Online

Ross is right and wrong yes we are the laughing stock and as for promotion that's a pipe dream this year I just wish BM had been given more money and more time unfortunately it doesn't work like that now we need instant success

Its true that like most things, its value is what someone will pay, but there is something of a formula. Some of that loss is mortgaged ticket sales. Some of it rent for ground and training facilities. The former is a short term loss, the latter have buy back options. What's relevant to a buyer with the money to cover medium term operating costs, is what the underlying longer term costs -profit/loss are.

The intangible bit is what value you put on the potential of leeds in the prem... And how much you're prepared to risk on trying to get them there.