Leeds United enter administration - Finish bottom of the championship - HotUKDeals
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Leeds United enter administration - Finish bottom of the championship

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At 3.15pm on Friday afternoon, Leeds United Association Football Club Limited was placed into Administration. Richard Fleming, Mark Firmin and Howard Smith of KPMG were appointed as Joint Administrato… Read More
t0mm Avatar
1d, 1m agoPosted 1 decade, 1 month ago
At 3.15pm on Friday afternoon, Leeds United Association Football Club Limited was placed into Administration. Richard Fleming, Mark Firmin and Howard Smith of KPMG were appointed as Joint Administrators.

The appointment will result in the immediate deduction of 10 points from the Club's current points tally in the Championship pursuant to the Regulations of the Football League. This means that next season the Club will play in League One, but with no further points deducted.

Shortly after the appointment of the Administrators, the business and assets of the Club were sold to a new company Leeds United Football Club Limited (Leeds) whose investors have been introduced by Ken Bates. The sale is subject to creditor and Football League approval before the beginning of the new season.

In the meantime Leeds will complete its season at Derby on Sunday and will continue to operate it's conference and banqueting and retail businesses as normal.

Ken Bates Chairman of Leeds United Football Club Ltd said: "The financial burden of the past finally pushed the club into Administration following the issuing of a winding up petition by HM Revenue & Customs who will be one of the Company's major creditors.

"The other parties who will suffer the biggest financial loss are institutions from which the Board arranged funding, Astor Investment Holdings, Krato Trust and Forward Sports Fund who collectively will lose in excess of £22.0m.

"The shares in Leeds United Football Club Limited are owned by Forward Sports Fund who would welcome serious investors to help make this club financially strong again so that we can mount a challenge to firstly gain promotion from League One and ultimately arrive back in the FA Premiership.

"Since January 2005 we have sought additional investment and have followed up every approach received but refused to deal with unnamed consortiums represented by third parties, if indeed they ever existed. To avoid timewasters we have always required proof of funds first, whereupon they often disappear.

"The action taken brings to an end the financial legacy left by others that we have spent millions of pounds trying to settle but the important thing now is not to view this as the end, but the beginning of a new era.

"It is my intention to contact all the clubs members to tell them of our plans going forward and season tickets will soon be available. The club is staying at Elland Road.

"We must unite together behind the club and take on all those in front of us."

Unlucky to be honest.
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t0mm Avatar
1d, 1m agoPosted 1 decade, 1 month ago
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(14) Jump to unreadPost a comment
Comments/page:
#1
It all went wrong when they got a new manager - it wasn't a very "wise" move :giggle:
#2
cheating white shite


glad bates went there and not to swfc
#3
its a shame really
#4
how can it be a shame

and i mean this reguardless of what team it is
answer me this

how can a team - who are already (practically)relegated be punished by losing 10 points?

then have cash in the kitty next year?
#5
i dont mean the administration, i mean them being relegated
#6
why
a team cannot live on is past glory - if they can the blackburn team should live on forever (purchased the title)

im still living in the limelight of chris waddle and david hirst!
sure they used to be a big club - but now they are playing with the little lads!
(edit - nothing personal by the way)
#7
what's the connection between a cordless drill and the championship







No Leeds
#8
Well i hope we get promoted tomorrow:) (Nottingham forest fan)
#9
death of an english rose........

....again.....

.........funny how they did it though.........

..........wonder if they have learnt there lesson, then again maybe not..

......... one thing is for sure, it has cheered me up from the game the other day.
#10
t0mm
Well i hope we get promoted tomorrow:) (Nottingham forest fan)


Hell no I hope you don't - you nicked Calderwood from us and we've been crap ever since :x
#11
Wise's cheeky chappy cockney barrow boy smile might have got him out of several bookings as a player, but it doesn't work in the man's world of football managership. If he was half a man he'd admit he's out of his depth and resign, as his son's Godfather (Bates) isn't likely to sack him.

Wise will still get his place in football history - as the t*sser who took Leeds into the third level of football for the first time in their long history.
#12
Its brilliant thinking by the accounting/legal team at leeds...

they made use of a legal loop hole so that they would not get 10 points taken off next season

they were already relegated unless they won by a silly amount today...
#13
i really hope that Leeds win about 6-0 against Derby (Derby will put out their young boys as they will rest best players for play-offs) and that Hull lose 5-0. That would be so funny that Leeds would have stayed up if not gone into administration.... Come on you foxes!
#14
its all about reading lol

i remember when leeds were in the premiership

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