Jimbo 175 Posted July 6, 2007 Share Posted July 6, 2007 There is now a real danger that Leeds United will not be able to start the new football league season, their administrators KPMG have warned. The comments were made at a High Court hearing in Leeds, where the club's plans to exit administration are being challenged by HM Revenue & Customs. KPMG said that unless the club is able to leave administration, the Football League may not let it start the season. BBC Radio Leeds understands the Football League is as yet undecided. No-one at the Football League was immediately available for comment. Earlier this week, businessman Simon Franks said he was ready to buy Leeds United, through his Redbus investment vehicle. HM Revenue & Customs is unhappy at the plans of Leeds chairman Ken Bates to pull the club out of administration by paying creditors just 8p in every £1. Mr Bates has already warned that the cost of defending the court action could cost the club its future. Leeds United has debts of £35m, with HM Revenue & Customs owned £7.7m in unpaid taxes. Link to comment Share on other sites More sharing options...
The Fish 11090 Posted July 6, 2007 Share Posted July 6, 2007 Ha and indeed Ha Link to comment Share on other sites More sharing options...
ewerk 31603 Posted July 6, 2007 Share Posted July 6, 2007 Whilst I don't want to see the club go out of business I'd like to see Bates' deal rejected if there is someone else able and willing to buy them and clear their debt. Link to comment Share on other sites More sharing options...
peasepud 59 Posted July 6, 2007 Share Posted July 6, 2007 There is now a real danger that Leeds United will not be able to start the new football league season, their administrators KPMG have warned. The comments were made at a High Court hearing in Leeds, where the club's plans to exit administration are being challenged by HM Revenue & Customs. . . Leeds United has debts of £35m, with HM Revenue & Customs owned £7.7m in unpaid taxes. Aye we'll get our fucking bit dont you worry Link to comment Share on other sites More sharing options...
Jimbo 175 Posted July 6, 2007 Author Share Posted July 6, 2007 Breaking news: Leeds have been put up for sale by administrators KPMG Link to comment Share on other sites More sharing options...
geordieshandy 0 Posted July 11, 2007 Share Posted July 11, 2007 (edited) Ken Bates has got it: Ken Bates has won the battle to buy Leeds United.Joint administrators Richard Fleming, Howard Smith and Mark Firmin of KPMG LLP today announce the sale of Leeds United to Leeds United Football Club Limited, headed by Ken Bates, for an undisclosed sum. The winning bid for the club was unconditional and follows the decision by the administrators to put the club up for sale outside of a Company Voluntary Arrangement ('CVA'). Joint administrators Richard Fleming, Howard Smith and Mark Firmin of KPMG LLP today announce the sale of Leeds United to Leeds United Football Club Limited, headed by Ken Bates, for an undisclosed sum. Edited July 11, 2007 by geordieshandy Link to comment Share on other sites More sharing options...
Offshore Toon 0 Posted July 11, 2007 Share Posted July 11, 2007 I just had the pleasure of informing a Leeds fan of the news. Link to comment Share on other sites More sharing options...
ewerk 31603 Posted July 11, 2007 Share Posted July 11, 2007 Cunt. Link to comment Share on other sites More sharing options...
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