Isnt it great to see Leeds in the Shit

[all_funkt_up]

No real point to the thread, infact I might even lock it. I just wanted to say that it is great to see Leeds in the shit and that's that really.

There's a high court squabble set for early September to see who will be allowed to buy the club. Unless Bates backs down, Leeds will start the new campaign in administration. This just gets better and better. It serves Bates right for taking the company to the wall and then trying to buy his way out for a measley 1p in the £. Scumbag.

Bloody hate Dennis Wise too. Twat.

Wonder what the odds on relegation are for them?

Get in!

[Computer Guy]

If Leeds are in administration, they cant start the season as its against Football League rules.

[all_funkt_up]

Is that right CG?

I thought they started with a 10 point handicap?

Ooooooooh even better news!

[Computer Guy]

Nah, the 10 point handicap was given to them last season when they went into administration initially. Daft as it seems, Bates had his head screwed on with regards to that by using the loophole that the Football League have now closed.

With regards to them being bought, unofficially there is a possible deal that might be struck with the 2 interested parties other than Bates, one of which is Revies son. Both are interested seperately but its a case of sorting out a price which the tax man is happy with.

Anyway, i still have an open mind with regards to Gustavo and Ol Cross-eyes, but Master Bates has to definitely go imo.

[all_funkt_up]

Aye, but if that Administration carries on to next year, dont they get another handicap?

[Computer Guy]

no like i already said, Football League rules state that if you are already in Administration, you cant start a season.

[Computer Guy]

oh look, one law for the rich, and one law for Leeds........fecking ridiculous that 15 point deduction.

oh and before everybody jumps on the anti-leeds bandwagon, look at the reason for the 15 points being taken, then look at previous cases and what punishment they got.

[all_funkt_up]

Leeds have received permission to play in League One this season after being granted their Football League share but must do so with a 15-point deduction.

The club have appealed against the sanction imposed by the Football League and their case will be heard at a special meeting of all league clubs.

Doubts had been raised over Leeds' future after the club failed to agree a Company Voluntary Arrangement (CVA).

The Football League accepted there were "exceptional circumstances".

[all_funkt_up]

Lucky to be there in my eyes, given that they are still in administration as I understand it.

Drifted from 20's on Betfair to be relegated to 3.1 at the moment.

[andeeeee]

sorry to be a little thick
but what happened to leeds in the first place.
me i`ve never had a problem with leeds

[all_funkt_up]

Originally Posted by andeeeee

sorry to be a little thick
but what happened to leeds in the first place.
me i`ve never had a problem with leeds

They wasted loads of money on players they couldnt afford and then got relegated.

You been hibernating for 5 years or so mate?

[andeeeee]

but loads of clubs are in debt so what happened to leeds

[Computer Guy]

Originally Posted by all_funkt_up

Lucky to be there in my eyes, given that they are still in administration as I understand it.

Nope, not now.

[all_funkt_up]

Their debt spiralled out of control. Man U are in more debt than Leeds ever were, but they can afford to repay it.

To cut a long story short, Ridsdale took a gamble. He paid a lot of money for players. The only way they could afford the mega-bucks team at the time was if they were playing Champions League football.

Its a bit like you getting a mortgage based on your basic salary and your overtime too. When the overtime stops unexpectedly, how do you pay the mortgage? In short, you dont.

They couldnt pay the wages, the money going out was more than the money going in. The players left, club went into administation and here we are 5 years down the line. Now last year, Leeds went into administration when they were already consigned to relegation. That meant they had a point deduction. Not that it mattered because they were already down.

Anyway, the club is still in administration and hasnt been officially been taken over by Ken Bates yet. So seen as they start the fresh campaign in administration, they incur another points penalty.

Clear?

[all_funkt_up]

Originally Posted by Computer Guy

Nope, not now.

They are subject to a CVA at the moment though arent they? Which they were unable to fulfil.

So they cant extend liabilities at this point. To all intents and purposes they are not a fully functional entity at the moment.