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Will we survive??

July 7, 2007

It is hard top take in the latest twists and turns in the saga of Leeds United. Revenue and Customs waited until the final hour before launching a challenge to Bates plan to take the club out of administration. This despite a last ditch effort by Bates to prevent a challenge by upping his offer from 1p in the pound to 8p in the pound.
The High Court case has apparently been adjourned until September and Leeds are supposed to kick off the season on 11th August and KPMG (the administrators) have said that unless the club was able to leave administration, the Football League may not let it start the season
It appears that the CVA has been cancelled hence the delay to the Customs and Revenue Court case. Therefore KPMG are now responsible for running the club until either a new owner can be found or the club is put into liquidation.
They have set a deadline of 5pm Monday for bidders to come forward. I assume this is so that they can present information to a Football League meeting convened for Wednesday of next week. Somehow I assume that Bates will still end up as the highest bidder or will to contest any outcome that does not end up with him in control of the club and if so the saga will end up back in court again!!
Categories: Football, Leeds
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