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18 Comments
Article Rating 2.33 Stars

Ken trying it on again

As if the Council has loads of money to lend the ropy old git to build his hotels and nightclub that will have precisely no visitors:

http://www.thesquareball.net/leeds-united/2011/08/18/leeds-city-council-turned-down-uniteds-20m-loan-request/

You've almost got to admire his cheek (if you didn't hate him so much).

comment by (U7885)

posted on 18/8/11

Augustus NJS, someone who uses a Roman Emperor's name as part of his username should careful about levelling the charge of mental illness at others. I much preferred it when you were a Pleb called NJS. Just a joke, please do send them large men around to my house again.

posted on 18/8/11

U7885...you shouldnt read too much into that pseudo,
come September I will change to Septimus NJS,
got a whole lotta Roman Emperors for the future!
<bigrin> ...behave yourself or else I will send the legions
round....







The British Legion!

comment by AZA (U5000)

posted on 18/8/11

Better than Legionnaires....

comment by (U2671)

posted on 18/8/11

Comment Deleted by Site Moderator

posted on 18/8/11

Though I do admit it is a bit of a bind sat here day
after day with a purple robe on, a sprig of nettles on
my head, a shield and a spear at the ready in case I'm
attacked...but the Rubicon has to be crossed!

U7885 are you one of my former soldiers on the old
606? Own up man, own up!!.....

posted on 18/8/11

But that article says almost nothing.

Given the problems for ALL football clubs in borrowing for player purchases [see Everton and others public pronouncements on the subject of late] any sensible person is going to pursue all avenues of loan finance.

At present it is impossible [save at usurious rates] for small to medium companies - which is what Leeds is - to borrow for other than income-generating capital projects. And lenders stick you to spending on capital projects by use of legal agreements and banking covenants.

You pay for player wages and purchases from income at present, of whatever source. So you invest in capital projects which both produce income to repay the loans and then any balance can be used for player funding.

Simples? Or is even this too difficult a concept for fans with other motives and MPs to understand.

Love him or loathe him [and I repeat I don't like his attitude to people or his "interesting life" - see recent programme notes - but I respect his acumen and understanding of finance] KB has a very good idea of what he is doing.

posted on 18/8/11

wildorange1970

Well said that person!

Augustus NJS

Cross that rubicon when you come to it!

posted on 18/8/11

I for one am glad the council told him to sling his hook.

comment by Jonty (U4614)

posted on 19/8/11

Bates made too many enemies at teh council.

I wonder how he got them to stump up 500k for the East Stand development (road alterations).

posted on 19/8/11

Jonty

He probably asked them

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