Leeds Takeover - MAKE IT HAPPEN
By Andy Baggott
September 24 2012
One thing is clear – this has got to have been the longest drawn out, badly handled takeover in the history of football – and it needs to be concluded….now. No one could have dreamed that we would be almost in October, and still the whole thing is dragging on. When this started, what seems like months ago, there was an air of anticipation. We, the fans, were excited as rumours of oil money and untold riches circulated. Sheikhs, Princes and Royalty were talked about, and people willing to spend the kind of money only Man City could dream about. The club released snippets of information, confirming that there was interest – due diligence and exclusivity were offered, with the club confident there wouldn’t be a problem. Then silence….for weeks….and weeks….then another rumour – the deal was off – then on, then exclusivity had ended…
No one knew what was going on – then they did….then they didn’t. Some brilliant work done by the Leeds United Supporters Trust kept us close to the action, but information was limited due to various confidentiality clauses.
Ken Bates, Harvey and various other people have been holding a series of meetings at Elland Road all week to finally thrash something out.. On Saturday, Ken Bates announced that the deal was close, yet we are still not really any closer to knowing what this means.
Investment groups are involved – GFH headed by Davis Haigh are certainly at the table. The Middle East is also represented by either (or both) Saudi or Bahrainian money. Bates may or may not still have a part to play, either staying on for a time in a consultancy role or something similar.
We still have absolutely no idea what to expect – none whatsoever. Will we have wealth beyond our wildest dreams, or will we continue to run as a ‘business’ – spend what we earn, and live within our means?
The whole debacle has been a mess from start to finish – we have missed the crucial transfer window, and have a woefully thin squad. We have a top manager at this level, who must be tearing his hair out at the uncertainty. IF, and it’s a big if, we do get some much needed money to spend, it’s got to be hoped it’s not too late – there has already been some serious money spent by Championship clubs this season, as teams are going big to try and reach the promised land of the Premiership.
Bates has taken us as far as he can. He has done some good work, although many will dispute – he has got the club on a level footing, and made us attractive to investors. He has though, made some shocking mistakes – he has struggled to understand what the fans want – and they are the heartbeat of the club. Arguments picked with LUST instead of working with them – a big opportunity missed. His desire to invest in the stadium, when the team was crying out for players. His lengthy court battles with enemies, and so many missed opportunities to build bridges with the fans – listening instead of fighting…
So the takeover rumbles onto another week – how many times have we heard the word ‘imminent’? How many times have we thought ‘todays the day’. I’m hoping again that this is the week – it really needs to be – and once it is done, the new owners also will need to learn from Bates’ mistakes – let’s have some honesty – lets know what their short/medium/long term plans are instead of the cloak and daggers we’ve endured for several years. This club of ours, and the fantastic fans deserve more than we’ve had over the last 10 years or so. A club that, if run right, will have 40,000 and more raising the roof like nowhere else can. Can you imagine a return to those days – no more infighting, no more lies, no more mind games – just a full house getting behind the team…
For any new owners, there is an opportunity to take this club on – to really help us live the dream – they have got to take it, and join us on what could be the most amazing journey…
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If this had been a investment only it would have been over with some time ago there also would have been no DD.
And as investors they would not have hung around so long just to give Bates there money to do with as he wishes
"Other sources party to the negotiations insist that there remain major obstacles to be overcome for GFH Capital to take control of Leeds and install their chief operating officer David Haigh as the club's new chairman.
Bates has been involved in parallel investment talks with at least two other parties. A wealthy American businessman attended Tuesday's league fixture against Hull City with a view to buying in, while there is also strong interest from elsewhere in the Middle East. Both proposals are said to be preferable to Leeds current chairman at present"
Hopefully, a pile of s-hit (not unusual for this source)- but many people believe that Castle gets his info via the Bates camp - and there is no doubt in my mind that throughout this entire takeover process - Bates will have been lifting every rock he could find in order to to ID someone who is daft enough to buy into his Building Project rather than buy him out. Hence the delays.confusion IMO.
I believe that there will have been the ongoing bid from the consortia with the patience of a hooker in a house full of eunuchs (prob the good guys) - then unknown "others" that Bates will have been courting outside the deal. Bates is desperate for the money - but don't believe any horse manure about him caring about delivering the "best deal for Leeds United" It will be the best deal for Ken Bates.
All the supporters can do is see how it comes out in the wash - and - for those of us who recognise his poison - pray, I guess.
Edited 1 time(s). Last edit at 2012:09:24:21:16:57 by Willow.
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Business takeovers take time...
Bates came out this week saying the confidentiality was linked to the the fact the 'investors' work in a regulated industry - why not tell us that four months ago? Why not a regular update. Why not meet with LUST, explain to them (as much as they can) what is happening so they can relay that to the fans.
its not the time, its the way it is being done and the fact that Bates obviously thinks we are complete morons for even discussing it!
LEEDS UNITED INTERNATIONALLY
FAMOUS THROUGHOUT THE WORLD
As far as I can tell nothings changed. This week Brian Mc was reading a script of what Warnock told journalists this time last year.
The only person/thing who has benefited from all of this is... Bates.
LEEDS UNITED INTERNATIONALLY
FAMOUS THROUGHOUT THE WORLD
We seem to be in the same situation this summer. As I say, when looking at what we know I can only conclude that the sale benefitted just one man.