Saturday, 29 September 2012

Leeds Takeover Still Shrouded In Doubt


I said it yesterday and now Phil Hay of the YEP has committed to print all the uncertainties that still surround the take over deal - and added weight to the issues I raised. The fact that GFH hover on the brink of bankruptcy is very interesting. And, as Hay rightly says, it may well be that they are the company not only fronting, but funding the purchase.

Hay doesn't pick up on the point, but as I said yesterday, all the indicators are that this is being seen as an investment, not as a love toy. God only knows what will happen if the deal is completed and the company then fold. Leeds could find themselves in administration all over again, trapped in a recurring nightmare.

That may not happen of course, but the early signs are less than reassuring. Of course the long suffering Leeds fans want to look on the bright side of life, but as West Ham fans, we know all about dodgy merchant bankers, and when the Icelanders bought our club, they looked financially secure, something that cannot be said of GFH. Maybe, just maybe, this is a PR venture, a last desperate throw of the dice by a bank about to go down the drain.

The Hay article is well worth a read before Leeds fans hurl the now familiar abuse. I expressed all these concerns ahead of Hay and now the YEP has caught up and, with more time to research, have expanded on the argument. I'm not saying this is a bad deal for Leeds - it may be absolutely brilliant - but it is far too early for fans to be crowing from the rooftops. Remember, Master Bates is still in the mix and, as Hay says, there's no guarantee that he will be going away any time soon.

Still very interesting days at Leeds. And the big question now is how the uncertainty will affect the team's performance. If your days may be numbered no matter how well you play, how committed to the cause will you feel? And meanwhile, Warnock may see the shadow of a dagger pointed at his back!

To read the Hay article, follow this link:

30 comments:

Anonymous said...

1-4

Anonymous said...

STFU You tit! You stick to worrying about the excuses you'll need for Tuesday morning after his old team have taken three points off of you.

Anonymous said...

Knob head!

Anonymous said...

I hope your articles gain access to West Hams news now feed as well as ours. Hammers fans will probs think your even more pathetic than we do...

Sms Timber Frame said...

Haha no one doubting anything here... except ofcourse the credibility of The Hammers in the premier league.... I would be inclined to rebrand the "The Toffee Hammers"

Anonymous said...

I think you right in the fact that they see it as a investment how many banks do you see running football clubs. This bank would only have to spend between the region of 10-20m to get the team promoted at this even for a bank in debt is a drop in the ocean. Once Leeds are promoted they will want to reap the rewards and in turn will then probably sell it onto other buyers!

Sms Timber Frame said...

Haha no one doubting anything here... except ofcourse the credibility of The Hammers in the premier league.... I would be inclined to rebrand the "The Toffee Hammers"

Old Whijey said...

The key in all this is "investment" GFH have no capital resource of their own, they invest other peoples money in what they see as viable businesses. at the moment LUFC is profitable, but that will change once they bring in the players needed to get to the PL; Course the poison dwarf has sacrificed future season ticket profits on the back of numerous white elephants ( Hotel in Hunslet for christ's sake). Don't know if you read the reports but GFH made £235,000 profit on £43 mill turnover now as someone with their own business that is total crap mmanagement; we have a retail business where nett profits for this type of business nationally are around 27% i.e on £43 million that would be around £11.6 million; some creative accounting going on or out of control wasted expenditure; still anything is better than Bates.

Anonymous said...

Yet you ignore the facts!
I think these blokes will know wot is happening a bit better than Phil Hay you idiot!
2nd and last paragraph's torpedo your little theories me thinks.

GFH Capital have today outlined their future plans for Leeds United in a press release, reiterating that they have been granted an exclusivity deal to “lead and arrange the acquisition of Leeds City Holdings including Leeds United FC from current owners.”

It is worth highlighting this, because of the continued uncertainty among fans, to outline that GFH Capital are planning on purchasing the company that owns Leeds United (Leeds City Holdings), and that in purchasing this company they will own 100% of the club. These appear to be negotiations to obtain sole ownership of the club.

The press release reads:

[GFH Capital's] intentions, if successful in its acquisition, is to move the club back to the Premier League as quickly as possible and help to build a sustainable future for the club, both on and off the field. This is expected to not only benefit the club and the surrounding community, but also the entire city of Leeds.

The Scratching Shed understands that GFH Capital intend to “invest heavily” in the football club, Elland Road, and the “surrounding community”. We understand that, should GFH Capital successfully purchase the club, their aim is to take Leeds to the Premier League by the end of next season.

GFH Capital’s CEO Hisham Alrayes explained:

Like many around the world, people from Bahrain and across the Gulf are passionate about the game of football and notably, English clubs – their successes and hardships are a daily talking point. In so many instances this is what bridges the gap between borders and different cultures. We are excited by our intentions for Leeds United and remain fully focused on the specifics of this deal, hoping to conclude a positive outcome as soon as possible.

The press release should also reassure fans of the company’s abilities, having suffered repeated attacks on its capabilities from one journalist recently:

Our parent company GFH has successfully steered through tough economic times and we find ourselves in a position of strength and in an enviable market position to lead on fantastic deals such as this.

Meanwhile, Leeds supporter and Chief Executive of GFH Capital, David Haigh, praised Leeds:

As a club, Leeds United has it all – passionate loyal fans, a great heritage and masses of potential to return to the Premier League with the right, sustainable investment. From a business perspective, ownership of an English football club, notably Leeds United, is a great opportunity if the right strategies are in place to benefit from the significant revenues available from renewed broadcasting rights.

From a personal perspective, I have followed Leeds United since childhood and having been back to Elland Road with my business colleague, Salem Patel and our CEO Hisham Alrayes for the last few home games, it makes us even more determined to acquire the club Leeds United and to see the club prosper. The existing infrastructure of the club and the result of the work of Ken Bates means that Leeds United is ready off the field to compete in the premier league.

Salem Patel, Chief Investment Officer at GFH Capital, concludes:

From very early on in our approach to this deal, we knew Leeds United FC has pedigree but also offers huge potential in terms of the football, the club and the surrounding area. We are keen on waking this sleeping giant, building on and forging a sustainable long term future for the club – both on and off the pitch. We also hope to take back ownership of Elland Road eventually and continue to work closely with Neil Warnock and the team, we intend to show the fans – some of the most passionate in the game – just how we can ‘March On Together’ to give Leeds United the success it so richly deserves.



Anonymous said...

Yawn.

Anonymous said...

Mate.. why do you try and appear like an unbias 'proper' journalist in some of your articles. We know from your track record that it's all about hatred for LUFC from you. 'The question is how the uncertainty will effect team performance' - nope it doesnt. We've seen, this week, that it aint hurting performances at all. Stop stirring shit. You occasionally make valid points, occasionally are funny - but keep to these witticisms and stop being a calculating arse. Havent you got anything better to do? Aren't you bored yet?

Anonymous said...

Times at Leeds are never boring , thats why we love em!

Wet spam on the other hand....WHO?...I forgot "world renowned for silky football" yeah right !

Leeds are soooo amazing, supporters of other clubs cant help but get involved - cmon....you KNOW YOU LOVE US!!!

Just take the step.....
You will feel the relief , just like when you "came out" over your cross dressing !

Takeover of Leeds, of interest to Leeds fans.....I cant see any Leeds fans be interested in the Forest takeover?...thats the business of Forest fans..

You are fffff'ing weird pal, you just seem to think your OPINION is so VALID AND IMPORTANT

Please make us aware of the drawbacks of our takeover... You must be a Lawyer/insider dealer in the middle east/Acccountant/football genius all rolled into one

Or are you just an ordinary bloke reading speculation and creating more speculation/ parading as opinion?

Neil said...

Absolutely right. Nothing involving Bates is straightforward. I urge fellow fans not to allow their hopes to rise until we know much more.

Anonymous said...

"GFH Capital's] intentions, if successful in its acquisition, is to move the club back to the Premier League as quickly as possible and help to build a sustainable future for the club, both on and off the field. This is expected to not only benefit the club and the surrounding community, but also the entire city of Leeds."

Thought I would post it here, because in the hours you spend talking about leeds, you always manage to miss the positives, and nothing new in todays article, just yesterdays regurgitated, obviously theres no hammers fans reading your site (and why would they, its seems to be a leeds blog these days) and you need the hits from us lot

Graham Smeaton said...

Let's just wait and see eh? If it goes "tit's and arse up"; I take it you will gloat aplenty, am I right?

If, however, it bears the fruits of a successful takeover leading to a stronger squad, no Bates and promotion will you do one thing?

Will you post as your Blog Entry the simple wordage of:

"Leeds United fans - I was wrong."

Much more measured writing, hope to read more.

Lifelong suffering Leeds fan

gazlufc said...

Very interesting indeed HF, but, i doubt very much that a wily old cnut that bates is, would have the wool pulled over his eyes

Anton said...

Incase it didn't sink earlier (or you're just sat that there with your fingers In your ears going 'la la la la')

I've pasted it again. (I know it turns your stomach when you read this, cos you're well gutted it's not your club in involved... Or is it?)

GFH Capital, the Bahrain-based investment company who on Thursday announced they had signed an exclusive agreement to lead a takeover of Leeds, have revealed details of their plans for the npower Championship club.

(GFH Capital's) intentions, if successful in its acquisition, is to move the club back to the Premier League as quickly as possible and help to build a sustainable future for the club, both on and off the field,' they said.
'This is expected to not only benefit the club and the surrounding community, but also the entire city of Leeds.'
Hisham Alrayes, chief executive of GFH, added: 'Like many around the world, people from Bahrain and across the Gulf are passionate about the game of football and notably, English clubs - their successes and hardships are a daily talking point.
'In so many instances this is what bridges the gap between borders and different cultures. We are excited by our intentions for Leeds United and remain fully focused on the specifics of this deal, hoping to conclude a positive outcome as soon as possible.'

Scott Tracey/Tracey ? ... whoever you are. Just because you have nothing to cheer about at West Ham. You can't even get excited about (or fill) your new stadium. What an absolute joke you are.

Anonymous said...

Words of a worried West Ham fan! We are coming and your spec of a club is gonna be swept aside! Your months of putting everything Leeds down is over! GFH are brokers not owners! LEEDS ARE ON THE RISE and there's nothing you can do!

Anonymous said...

u didnt raise the issues,you copied what other people had wrote,as per usual

Anonymous said...

At last some sense!!
Unfortunately I have the same concerns.lets hope it's not out of the frying pan and into the inferno!!!

Anonymous said...

Get a life, you cock

Anonymous said...

F-ck off you w&nker write about how well your team are doing this season or fat Sam maybe carrol your a knob head

Anonymous said...

You know f-ck all you have read some stuff on the Internet and jumped on the band wagon you don't know who is behind the deal or what money is been put into lufc so that makes you a dick head you just find something negative about Leeds or the takeover that somebody has wrote and then put it on your blog to pass it off as your own to wind up leeds fans . How sad is your life if that's how you get your kicks your a very sad little stupid man!!!

Anonymous said...

Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

Anonymous said...

A

Anonymous said...

C

Anonymous said...

Hope you get cancer a lot earlier then your pile of shite of a father.

Anonymous said...

I dont like you hf but on behalf of all leeds fans other than a few embarrassing tossers i apologise for the comment made by 18:21, we dont want that to happen at all, we just want you to stop writing this crap

Anonymous said...

Excellent article.

Leeds fans are so desperate ...they seem happy to accept any kind of takeover..but that is natural in some ways.

These days its all about the money men. Even Man Utd got lumbered for half a billion of debt. Forest fans thought they would coast towards the PL.West Ham and the icelandics...you are right...

Leeds fans need to be cautious, and wait for details to emerge.

Ken Bates is 80 and must want out, I wouldn't want to be flying from Monaco twice a week to West Yorkshire.

It is obvious he played the system, cost creditors millions and is going to walk away an even richer man. He has squeezed Leeds to make it saleable, and now will reap the rewards. Leeds fan might turn out to be grateful to Bates...the pain of the years under Bates could have laid the groundwork for a new era at Elland Road.

Looking at the bigger picture, a club in freefall with £100 million+ in debt has been turned round in seven years by Bates into an attractive investment opportunity.

Yes Bates is a crook, but you have to hand it to him.

He will always be hated at ER, for being Chelsea and concentrating on the business model rather than the team, and he will be pushed aside in the history of the club and banished from memory, but his legacy will be felt for years to come, until someone else comes and f**** it all up !!! haha


Anonymous said...

LIAR.