No wonder the purchase of Barnes was blocked. GFH haven't a bean to their name. What a total financial mess they've created!
to be fair to GFH, I suspect they did not realise the extent of financial trouble the club was in when they bought it from Bates. We do not have any working capital because of the east stand
comment by Leedsforever (U15976):
"to be fair to GFH, I suspect they did not realise the extent of financial trouble the club was in when they bought it from Bates. We do not have any working capital because of the east stand"
After due diligence of how long again?!?!!?
REALLY?!?!?!?!
Wow!!
If all of these reports are true, no reason to doubt them, the place is really crumbling faster than a house built of quicksand in an earthquake on a California beach!!
Peak I remember some folk saying that because we'd missed out on a player to prem in jan it was therefore obvious that we had money to spend and were going to spend it!
Just hope people are more questioning of owners now instead if falling for the spin hook line and sinker every time.
Forever, it's because of that attitude that owners are able to pull the wool over your eyes for so long.
With all these reports of financial troubles (to put it mildly), perhaps the takeover by Cellino is really needed. If he's done the due diligence, read the news (if not him i suspect his advisors will) and is fully aware of the financial issues surrounding the club - and still wants to buy - then maybe we need him more than we think?
No doubting there was an utter mess last weekend, and no doubt mistakes were made. But right now, if reports are even 75% true, then we're in deep trouble by the sounds of it.
Perhaps it's time to back the guy - the consortium bids don't seem to be offering that much if we're being honest, and no arab (with money) seems to be hovering - maybe we have to give this guy a chance?
What i do find a bit of a mystery is that if we're in as much financial mire as the media suggest - then why didn't we accept any of the bids for Ross when they came in? If we needed funds to pay creditors, then there was instant (pretty much) cash to keep things ticking over. From all i read and saw on Sky Sports, the club rebuffed all approaches saying he wasn't for sale.
Right now LUFC is in the media headlights, and the media being the media love a good headline. Once again we're in that spotlight and right now it's all negatives for the most part. Perhaps, just perhaps, things aren't as bad as the media would like to portray things.
VOF , because club thought it had sold to Cellino so then didn't need ross money.
According to the Mail report I posted below they were going to accept £4m from Cardiff but Cellino blocked the move late on Friday.
Seems he was given the club to run for a day
Jonty - thats sort of what i mean, in a probably not so clear way.
Our club needs some financial backing by the sounds of it - and right now Cellino seems to be offering that. I'm not 100% convinced by the guy, but he has bankrolled a Serie A club for the last 20 years. From what i've read, manager sackings apart, he's generally taken decent care of Cagliari. They're not league toppers, but they've generally held there own.
Management of the team could become a merry go round - and i don't like the idea of the squad being full of Italian mercenaries - but then if they got us promoted, i'd be singing and dancing in the stands with everyone else !!!
As usual with our club, it's interesting times ahead. Sit down, buckle up and once again get ready for a bumpy ride. It's simply never straightforward with us i'm afraid.
VOF, there ail always be more options than Cellino, unfortunately GFH must be so desperate now that they can't see any further than him now.
If I were he, I would be bargaining for GFH to drop the price as he knows they're desperate and they're convinced he has the cash.
I wonder what impact this has, if any on GFH back in Bahrain, or are their investors used to the ineptitude of the company by now?
How is Haigh still with the business?
Jonty - not sure how you can say that. In theory our club has been ripe for the picking by a serious investor for a number of years - we've had no one, despite others being snapped up all around us.
For the most part i strongly believe it's because of the financial mire/web/mystery created by Herr Bates.
I think you're wrong to say there will always be more options than Cellino - who/where are they?
The various consortia putting in bids seem to be trying to scramble money together - so whilst they may have the club more to heart, that doensn't mean to say they've got the clout or ability to take the club over - and stay afloat for too much time.
I'm afraid we'd all like to think there's a queue around the East Stand of other available candidates, i don't see the evidence of it - and obviously nor do GFH .....
VOF, there has been plenty of interest, just because Bates or GFH don't tell you about it, doesn't mean it's not there. I knew of 2 consortia bidding for Leeds from Bates, he was asking 110 mill!
The owners get greedy when they see interest.
You asked what other consortia there are, well there is Farnan for a start that we know about and for every one we know about there will be a few that we don't.
What makes youthink people are trying to scramble money together? Are the consortia saying this? Are GFH saying this?
The stumbling block for SC was not getting the money together, it was the forward looking business plan.
The stumbling block for Cellino is not getting the money together, it's the FL.
The stumbling block for Farnan is not getting the money together, it's GFH not engaging.
comment by VOF - I'm just a happy bunny !!!! (U17124)
"Our club needs some financial backing by the sounds of it - and right now Cellino seems to be offering that. I'm not 100% convinced by the guy, but he has bankrolled a Serie A club for the last 20 years. From what i've read, manager sackings apart, he's generally taken decent care of Cagliari. They're not league toppers, but they've generally held there own."
Cellino has been quoted that he will buy the stadium as soon as the sale of the club is approved.
A moment of truth is coming right after he takes over (if he does), at that time we will have a very good idea of what we have or don't have.
How can he be said to have bankrolled a club when he took money out of it from selling players?
If anyone was interested in buying Leeds United from Bates, GFH, or anyone they would advertise the fact to everyone, not just you Jonty love.
Part and parcel of going for a club would be trying to get the supporters onside.
Our Italian friend Massimo Cellino has done this, he's certainly grabbed the attention. He's made his intentions known from the outset.
We wouldn't need anyone to tell us if there were genuine interested parties out there, because they would have made it known from every rooftop available.
You say 'there will be a few that we don't know about'.
What sort of a comment is that...?
That's your evidence of other interested parties is it..?
alcune persone Fanno ribollire il Sangue
What makes youthink people are trying to scramble money together? Are the consortia saying this? Are GFH saying this?
----------------------------------------------
I know about the Farnan group. GFH are an investment bank - they'll sell to the highest bidder - it's all about profit to them.
Farnan isn't approaching the club as an indivdual investor, he's part of a consortium. If that consortium had the money to buy the club, then GFH would talk to them. Consortiums generally need all the members to share costs/liability etc...... They may not be scrambling money together, but it doesn't sound like they have the same financial clout as Cellino, or they'd be in a more prominent position in all this. GFH will engage with whoever offers the money - it's what they're in this for.
"The stumbing block for SC was not getting the money together" - exactly Jonty, they were scrambling around to get the money. As soon as a prominent member of that consortium drops out, they fold like a deck of cards. If you think thats a forward looking approach/business plan then you're believing your own thoughts too much. SC may have cared about the club more - and thats great, but you need to have the financial ability to buy and then subsequently run a club of our size.
I was talking to Henry Winter (Telegraph) last Saturday before the game. I've known him for a number of years - he shares my thoughts that the consortiums may have a feeling for the club, but that doesn't pay the bills.
In an ideal world i'd like a Leeds fan to takeover and run the club (like D Hoyle at Uddersfield) - but they have to have the ability/nouse and substance to do it for the longterm. I'm not saying Cellino does, but then he does have a track record with a Serie A club.
JLA ...... A moment of truth is coming right after he takes over (if he does), at that time we will have a very good idea of what we have or don't have
-------------------------------------------
Absolutely ...............
JonnyLosAngeles
whether through their own fault or Bates', its pretty clear they were deceived about the extent of financial trouble the club were in during their due diligence, I also don't think they fully realised the level of expediture a football club required.
Nobody in their right mind would have anything to do with BATES I totally disagree Jonty the club as only really been available since it was bought from BATES looki how he stitched Abromvitch up
I reckon the club will be sold by out desperate owners before it goes into administration maybe this is a lesson for all unless you have deep pockets forget buying Leeds
VOF not talking to farnan was nothing to do with money it was exclusivity period.
Jonty ............ there have been historical approaches to our club, and i do recall the figure of £110 being banded around at the time. Quite ridiculous figures for our club then and now.
Of late only GFH seemed able to deal with Bates and satisfy themselves sufficiently to take the club on. Whether or not Bates is still connected - and the conspiracist in me still believes he holds an interest in the club in someway shape or form - whoever takes us over needs to have the financial where with all, to move us forward. Buying back ER (from Bates i suspect) need to be a priority, even before squad improvement.
Do you honestly believe that the Farnan Group offer a long term solution? The SC bid looks to be out of the equation with the removal of AFs backing.
We've had owners/directors who "supported" the club before - look where that got us. Sometimes it's best not to have a supporter, they can get carried away, someone with a business brain. Even better if they've got a business and footballing brain.
Cellino made a complete bolognese of last weeks events - it was an embarrasment. No knowing whether he'll make a bigger bolognese of owning the club should it all go through. One things for sure, he appears to be in pole position to do so.
Who is out there then who has what it takes to satisfy your expansive checklist of requirements to run our club?
VOF - I'm just a happy bunny !!!!
Who is out there then who has what it takes to satisfy your expansive checklist of requirements to run our club?
The obvious answer to that question is 'There will be a few that we don't know about'.
And apparently we should wait for them to show themselves....!! So that GFH would be able to negotiate with them...? Afterall, this sale has only just this week been mooted, these unknown 'few' have had no time whatsoever to put together a bid...!!!
Oh and while we're at it, they've exchanged contracts. Apparently.
VOF rather than try and continually take the mick why not just try and debate?
Please show us all this expansive checklist you go on about.
All I have said is that I want to know what any prospective owners reason is for buying the club.
And btw bates is not still connected with the club in terms of ownership, his sale to gfh did not go the way he wanted and he lost chance to retain interest.
However he may well have monies invested via flowers.
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posted on 7/2/14
No wonder the purchase of Barnes was blocked. GFH haven't a bean to their name. What a total financial mess they've created!
posted on 7/2/14
to be fair to GFH, I suspect they did not realise the extent of financial trouble the club was in when they bought it from Bates. We do not have any working capital because of the east stand
posted on 7/2/14
comment by Leedsforever (U15976):
"to be fair to GFH, I suspect they did not realise the extent of financial trouble the club was in when they bought it from Bates. We do not have any working capital because of the east stand"
After due diligence of how long again?!?!!?
REALLY?!?!?!?!
Wow!!
If all of these reports are true, no reason to doubt them, the place is really crumbling faster than a house built of quicksand in an earthquake on a California beach!!
posted on 7/2/14
Peak I remember some folk saying that because we'd missed out on a player to prem in jan it was therefore obvious that we had money to spend and were going to spend it!
Just hope people are more questioning of owners now instead if falling for the spin hook line and sinker every time.
posted on 7/2/14
Forever, it's because of that attitude that owners are able to pull the wool over your eyes for so long.
posted on 7/2/14
With all these reports of financial troubles (to put it mildly), perhaps the takeover by Cellino is really needed. If he's done the due diligence, read the news (if not him i suspect his advisors will) and is fully aware of the financial issues surrounding the club - and still wants to buy - then maybe we need him more than we think?
No doubting there was an utter mess last weekend, and no doubt mistakes were made. But right now, if reports are even 75% true, then we're in deep trouble by the sounds of it.
Perhaps it's time to back the guy - the consortium bids don't seem to be offering that much if we're being honest, and no arab (with money) seems to be hovering - maybe we have to give this guy a chance?
What i do find a bit of a mystery is that if we're in as much financial mire as the media suggest - then why didn't we accept any of the bids for Ross when they came in? If we needed funds to pay creditors, then there was instant (pretty much) cash to keep things ticking over. From all i read and saw on Sky Sports, the club rebuffed all approaches saying he wasn't for sale.
Right now LUFC is in the media headlights, and the media being the media love a good headline. Once again we're in that spotlight and right now it's all negatives for the most part. Perhaps, just perhaps, things aren't as bad as the media would like to portray things.
posted on 7/2/14
VOF , because club thought it had sold to Cellino so then didn't need ross money.
posted on 7/2/14
According to the Mail report I posted below they were going to accept £4m from Cardiff but Cellino blocked the move late on Friday.
Seems he was given the club to run for a day
posted on 7/2/14
Jonty - thats sort of what i mean, in a probably not so clear way.
Our club needs some financial backing by the sounds of it - and right now Cellino seems to be offering that. I'm not 100% convinced by the guy, but he has bankrolled a Serie A club for the last 20 years. From what i've read, manager sackings apart, he's generally taken decent care of Cagliari. They're not league toppers, but they've generally held there own.
Management of the team could become a merry go round - and i don't like the idea of the squad being full of Italian mercenaries - but then if they got us promoted, i'd be singing and dancing in the stands with everyone else !!!
As usual with our club, it's interesting times ahead. Sit down, buckle up and once again get ready for a bumpy ride. It's simply never straightforward with us i'm afraid.
posted on 7/2/14
VOF, there ail always be more options than Cellino, unfortunately GFH must be so desperate now that they can't see any further than him now.
If I were he, I would be bargaining for GFH to drop the price as he knows they're desperate and they're convinced he has the cash.
I wonder what impact this has, if any on GFH back in Bahrain, or are their investors used to the ineptitude of the company by now?
How is Haigh still with the business?
posted on 7/2/14
Jonty - not sure how you can say that. In theory our club has been ripe for the picking by a serious investor for a number of years - we've had no one, despite others being snapped up all around us.
For the most part i strongly believe it's because of the financial mire/web/mystery created by Herr Bates.
I think you're wrong to say there will always be more options than Cellino - who/where are they?
The various consortia putting in bids seem to be trying to scramble money together - so whilst they may have the club more to heart, that doensn't mean to say they've got the clout or ability to take the club over - and stay afloat for too much time.
I'm afraid we'd all like to think there's a queue around the East Stand of other available candidates, i don't see the evidence of it - and obviously nor do GFH .....
posted on 7/2/14
VOF, there has been plenty of interest, just because Bates or GFH don't tell you about it, doesn't mean it's not there. I knew of 2 consortia bidding for Leeds from Bates, he was asking 110 mill!
The owners get greedy when they see interest.
You asked what other consortia there are, well there is Farnan for a start that we know about and for every one we know about there will be a few that we don't.
What makes youthink people are trying to scramble money together? Are the consortia saying this? Are GFH saying this?
The stumbling block for SC was not getting the money together, it was the forward looking business plan.
The stumbling block for Cellino is not getting the money together, it's the FL.
The stumbling block for Farnan is not getting the money together, it's GFH not engaging.
posted on 7/2/14
comment by VOF - I'm just a happy bunny !!!! (U17124)
"Our club needs some financial backing by the sounds of it - and right now Cellino seems to be offering that. I'm not 100% convinced by the guy, but he has bankrolled a Serie A club for the last 20 years. From what i've read, manager sackings apart, he's generally taken decent care of Cagliari. They're not league toppers, but they've generally held there own."
Cellino has been quoted that he will buy the stadium as soon as the sale of the club is approved.
A moment of truth is coming right after he takes over (if he does), at that time we will have a very good idea of what we have or don't have.
posted on 7/2/14
How can he be said to have bankrolled a club when he took money out of it from selling players?
posted on 7/2/14
If anyone was interested in buying Leeds United from Bates, GFH, or anyone they would advertise the fact to everyone, not just you Jonty love.
Part and parcel of going for a club would be trying to get the supporters onside.
Our Italian friend Massimo Cellino has done this, he's certainly grabbed the attention. He's made his intentions known from the outset.
We wouldn't need anyone to tell us if there were genuine interested parties out there, because they would have made it known from every rooftop available.
You say 'there will be a few that we don't know about'.
What sort of a comment is that...?
That's your evidence of other interested parties is it..?
posted on 7/2/14
alcune persone Fanno ribollire il Sangue
posted on 7/2/14
What makes youthink people are trying to scramble money together? Are the consortia saying this? Are GFH saying this?
----------------------------------------------
I know about the Farnan group. GFH are an investment bank - they'll sell to the highest bidder - it's all about profit to them.
Farnan isn't approaching the club as an indivdual investor, he's part of a consortium. If that consortium had the money to buy the club, then GFH would talk to them. Consortiums generally need all the members to share costs/liability etc...... They may not be scrambling money together, but it doesn't sound like they have the same financial clout as Cellino, or they'd be in a more prominent position in all this. GFH will engage with whoever offers the money - it's what they're in this for.
"The stumbing block for SC was not getting the money together" - exactly Jonty, they were scrambling around to get the money. As soon as a prominent member of that consortium drops out, they fold like a deck of cards. If you think thats a forward looking approach/business plan then you're believing your own thoughts too much. SC may have cared about the club more - and thats great, but you need to have the financial ability to buy and then subsequently run a club of our size.
I was talking to Henry Winter (Telegraph) last Saturday before the game. I've known him for a number of years - he shares my thoughts that the consortiums may have a feeling for the club, but that doesn't pay the bills.
In an ideal world i'd like a Leeds fan to takeover and run the club (like D Hoyle at Uddersfield) - but they have to have the ability/nouse and substance to do it for the longterm. I'm not saying Cellino does, but then he does have a track record with a Serie A club.
posted on 7/2/14
JLA ...... A moment of truth is coming right after he takes over (if he does), at that time we will have a very good idea of what we have or don't have
-------------------------------------------
Absolutely ...............
posted on 7/2/14
JonnyLosAngeles
whether through their own fault or Bates', its pretty clear they were deceived about the extent of financial trouble the club were in during their due diligence, I also don't think they fully realised the level of expediture a football club required.
posted on 7/2/14
Nobody in their right mind would have anything to do with BATES I totally disagree Jonty the club as only really been available since it was bought from BATES looki how he stitched Abromvitch up
I reckon the club will be sold by out desperate owners before it goes into administration maybe this is a lesson for all unless you have deep pockets forget buying Leeds
posted on 7/2/14
VOF not talking to farnan was nothing to do with money it was exclusivity period.
posted on 7/2/14
Jonty ............ there have been historical approaches to our club, and i do recall the figure of £110 being banded around at the time. Quite ridiculous figures for our club then and now.
Of late only GFH seemed able to deal with Bates and satisfy themselves sufficiently to take the club on. Whether or not Bates is still connected - and the conspiracist in me still believes he holds an interest in the club in someway shape or form - whoever takes us over needs to have the financial where with all, to move us forward. Buying back ER (from Bates i suspect) need to be a priority, even before squad improvement.
Do you honestly believe that the Farnan Group offer a long term solution? The SC bid looks to be out of the equation with the removal of AFs backing.
We've had owners/directors who "supported" the club before - look where that got us. Sometimes it's best not to have a supporter, they can get carried away, someone with a business brain. Even better if they've got a business and footballing brain.
Cellino made a complete bolognese of last weeks events - it was an embarrasment. No knowing whether he'll make a bigger bolognese of owning the club should it all go through. One things for sure, he appears to be in pole position to do so.
Who is out there then who has what it takes to satisfy your expansive checklist of requirements to run our club?
posted on 7/2/14
VOF - I'm just a happy bunny !!!!
Who is out there then who has what it takes to satisfy your expansive checklist of requirements to run our club?
The obvious answer to that question is 'There will be a few that we don't know about'.
And apparently we should wait for them to show themselves....!! So that GFH would be able to negotiate with them...? Afterall, this sale has only just this week been mooted, these unknown 'few' have had no time whatsoever to put together a bid...!!!
Oh and while we're at it, they've exchanged contracts. Apparently.
posted on 7/2/14
VOF rather than try and continually take the mick why not just try and debate?
Please show us all this expansive checklist you go on about.
All I have said is that I want to know what any prospective owners reason is for buying the club.
posted on 7/2/14
And btw bates is not still connected with the club in terms of ownership, his sale to gfh did not go the way he wanted and he lost chance to retain interest.
However he may well have monies invested via flowers.
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