#lufc here are the details from the Leeds City Holdings/GFH Capital doc from Companies House:

http://pbs.twimg.com/media/A5edkGmCEAAF6gd.jpg:large

I guess the murky world of Bates has decided that the £2m was a payment to the club to 'purchase' the exclusivity agreement. Both parties will be arguing the toss about it as bates will have stashed it his offshore account. Plenty of legal wrangling but the norm would be for the payment to be netted off the actual purchase price. Bates will want the agreed purchase price plus the £2m.

Did Warnock get the cash to fund players, or is he still waiting on Bates to cough it up. Either way it just shows what its like dealing with Bates, as nothing is simple with him

From Twitter:

@AndrewHaigh

OK, slight correction on that. The £2m mortgage of shares actually happened on October 5th. The June 14th date is a seperate matter all together #lufc

@AndrewHaigh

I suppose for GFH Capital to loan "2m to the club on Oct 5th, it must show they have a significant amount of cash?

It looks like this was done, to block sale to anyone else.

Takeover will happen soon

Hope so mate...kinda good to hear that they have the cash to throw about after the rumours they were skinter than a dewsbury hooker

Jud you mind me nicking this for the other site?

Or you could post it?

any news on Ryan Hall?

And I'll have you know nothing wrong with Dewsbury or its hookers!!!

Kissa

I thought he was abit harsh on your lass too.

Its great she does buy one get one free on BJ

course ya can mate

His fine looking lady says hes signed n theyre movin to Leeds on twitter @sharletadams

hahaha 2-4-1 deals...love owt like that me

Twitter is showing itself to be a rather incredibly bad medium for people to do business on if they can't get their message across right.

Rumours of them being skinter than a dewsbury hooker are not just rumours, but factual analysis from Reuters

I don't trust this company has LUFC at heart. I hope I am wrong, but Simon Morris was believed to be a good bet by some

Rumours of them being skinter than a dewsbury hooker are not just rumours, but factual analysis from Reuters

I'm sure when you look into it closer than Reuters there are 2 different companys

So what did happen on June 14th?

As for Oct 5th, I think (ie I am just using my knowledge of mortgages of houses from banks etc) a mortgage of shares with all LUFC shares as collateral means that GFH hold a first call on the club if it goes into administration or liquidation, or they take over the club (pretty much like a bank takes over your house) if the club is unable to continue. They have preferred status/first call to get their credit back in other words.

As a mortgage, if LUFC sell to anyone else, GFH must be paid back their £2m, plus whatever interest is agreed in the system, before the sale can go through.

Comment deleted by Site Moderator

YNBK - they are not different companies, one is a subsidiary of the parent company, in exactly the same way that Southampton were set up. When the parent company goes into liquidation, the subsidiaries are classed as having done so too under FA regulations

Leonard Hofstadter (U15789)

Okay mate, I will have to have a read through that Reuters thing again it fried my brain last time lol

Am not convinced by GFH

But we need to give them a chance

They may be skint but their backers are not!

LIW...ya going tomorrow??

Had a ticket up till 20mins ago...ya know of any1 with a spare???

At the end of the day LIW can it get much worse than Bates?

At least they will close all the holes and stop money leaking into bates accounts!

Bye Bye yorkshire radio for a start!!!

Look - if any one of us won the Euromillions tomorrow and bought the club there would always be those who wouldn't be happy.

Lets give GFH a chance eh?

if i won it n bought the club every1 would be happy!

Jud

Am not going but you can still buy them

LOL Jud - you would be there to be shot down! All your past would be raked up and the papers would dissect your life.

Still want to buy the club