Post by Macmoish on Aug 9, 2012 13:21:37 GMT
Leeds takeover reportedly collapses
YORKSHIRE POST
Breaking: Leeds United takeover collapses
The Leeds United takeover deal has collapsed, according to reports
Published on Thursday 9 August 2012 11:56
THE proposed takeover of Leeds United by a Middle Eastern consortium has collapsed, according to the Leeds United Supporters Trust.
The trust claims the group have withdrawn from talks with current owner and chairman Ken Bates after failing to conclude a deal to buy the Elland Road club.
A statement on the trust’s Facebook page said it could “confirm that the deal to buy the club has now collapsed”.
The trust said it would make a more detailed statement later today.
United have been engaged in negotiations with the consortium for more than two months, and an agreement was believed to have been reached in principle at the end of June.
But concerns about the deal emerged yesterday when United chief executive Shaun Harvey flew out to Monaco to meet with Bates in an effort to push the deal towards a conclusion.
The club have made no comment on the proposed takeover since announcing on June 26 that the Middle Eastern consortium were performing due diligence on the accounts at Elland Road.
Last month Sheikh Abdulrahman bin Mubarak Al-Khalifa – the man who led a failed takeover of Leeds United in 2003 – was named as a key figure in the Middle Eastern consortium behind the takeover.
Reports in the Bahrain media claimed a group of investors, headed by lifelong United supporter Al-Khalifa, were close to completing a deal for Leeds.
But talks appeared to have stalled, and this morning manager Neil Warnock revealed that that further new signings were now dependent on the finance raised from players leaving Elland Road.
Al-Khalifa, a member of Bahrain’s ruling dynasty, was part of a consortium including representatives from Saudi Arabia and Asia who failed to push through a takeover deal just under a decade ago, but it seems he has maintained a strong interest in United’s affairs.
In 2003 he told reporters: “I fell in love with the club when I was 11-years-old when Leeds played Chelsea in the 1970 FA Cup Final.
“Leeds mean everything to me, I was born to support them. Those who are closest to me, my friends and my family, know what Leeds United mean to me.”
The protracted takeover saga has been rumbling on for more than two months with a trail leading from North America to the Gulf.
Leeds reached an exclusivity agreement with an unnamed investor in early July, with the period enabling the interested party – who satisfied the requirements of the Football League’s Owners and Directors test – to carry out due diligence at the club.
www.yorkshirepost.co.uk/sport/football/leeds-united/breaking-leeds-united-takeover-collapses-1-4818341
YORKSHIRE POST
Leeds put Rogers and Pugh up for sale as Twitter fans vent anger on Ken Bates
Ken Bates
Published on Thursday 9 August 2012 13:05
LEEDS United fans have reacted angrily to the news that the Gulf-funded takeover of the club has collapsed.
In an outpouring of emotion on Twitter, supporters singled out current owner Ken Bates for blame, accusing him of neglecting the club’s interests.
@mrvalli said: “Ken Bates has dragged (Leeds) through endless pain. Why us? Why couldn’t he sell us when he had the golden chance? I feel sick!”
@droopy_claus added: “Did anyone seriously not see this coming? Bates just using the takeover as a smokescreen to not spend on transfers.”
Referring to the explosion of comments on Twitter, @ronanfarrelly17 said: “Leeds trending for all the wrong reasons yet again.”
Meanwhile, Leeds manager Neil Warnock has put Robbie Rogers and Danny Pugh up for sale this summer.
They join Billy Paynter, Paul Rachubka, Paul Connolly, and Ramon Nunez on the transfer list, as Warnock plans to raise funds to sign a striker.
He said on the club’s website: “You have to look at what you can do, We’re looking at forward players and it might be that we have to move one or two on, so we’re going to circulate the names of Robbie Rogers and Pughy on the transfer list.
“I’ve had a chat with both of them. In Pughy’s case he’s had a good pre-season and he’s a bit unlucky, but in the areas I think he’s good in I don’t think he’ll get much of a look in.
“He needs to be playing games. It’s not closing the door, but if we can generate some income it helps me with priority positions.”
Related Articles
Breaking: Leeds United takeover collapses
THE proposed takeover of Leeds United by a Middle Eastern consortium has collapsed, according to the Leeds United Supporters Trust.
www.yorkshirepost.co.uk/sport/football/leeds-united/leeds-put-rogers-and-pugh-up-for-sale-as-twitter-fans-vent-anger-on-ken-bates-1-4818598
YORKSHIRE POST
Breaking: Leeds United takeover collapses
The Leeds United takeover deal has collapsed, according to reports
Published on Thursday 9 August 2012 11:56
THE proposed takeover of Leeds United by a Middle Eastern consortium has collapsed, according to the Leeds United Supporters Trust.
The trust claims the group have withdrawn from talks with current owner and chairman Ken Bates after failing to conclude a deal to buy the Elland Road club.
A statement on the trust’s Facebook page said it could “confirm that the deal to buy the club has now collapsed”.
The trust said it would make a more detailed statement later today.
United have been engaged in negotiations with the consortium for more than two months, and an agreement was believed to have been reached in principle at the end of June.
But concerns about the deal emerged yesterday when United chief executive Shaun Harvey flew out to Monaco to meet with Bates in an effort to push the deal towards a conclusion.
The club have made no comment on the proposed takeover since announcing on June 26 that the Middle Eastern consortium were performing due diligence on the accounts at Elland Road.
Last month Sheikh Abdulrahman bin Mubarak Al-Khalifa – the man who led a failed takeover of Leeds United in 2003 – was named as a key figure in the Middle Eastern consortium behind the takeover.
Reports in the Bahrain media claimed a group of investors, headed by lifelong United supporter Al-Khalifa, were close to completing a deal for Leeds.
But talks appeared to have stalled, and this morning manager Neil Warnock revealed that that further new signings were now dependent on the finance raised from players leaving Elland Road.
Al-Khalifa, a member of Bahrain’s ruling dynasty, was part of a consortium including representatives from Saudi Arabia and Asia who failed to push through a takeover deal just under a decade ago, but it seems he has maintained a strong interest in United’s affairs.
In 2003 he told reporters: “I fell in love with the club when I was 11-years-old when Leeds played Chelsea in the 1970 FA Cup Final.
“Leeds mean everything to me, I was born to support them. Those who are closest to me, my friends and my family, know what Leeds United mean to me.”
The protracted takeover saga has been rumbling on for more than two months with a trail leading from North America to the Gulf.
Leeds reached an exclusivity agreement with an unnamed investor in early July, with the period enabling the interested party – who satisfied the requirements of the Football League’s Owners and Directors test – to carry out due diligence at the club.
www.yorkshirepost.co.uk/sport/football/leeds-united/breaking-leeds-united-takeover-collapses-1-4818341
YORKSHIRE POST
Leeds put Rogers and Pugh up for sale as Twitter fans vent anger on Ken Bates
Ken Bates
Published on Thursday 9 August 2012 13:05
LEEDS United fans have reacted angrily to the news that the Gulf-funded takeover of the club has collapsed.
In an outpouring of emotion on Twitter, supporters singled out current owner Ken Bates for blame, accusing him of neglecting the club’s interests.
@mrvalli said: “Ken Bates has dragged (Leeds) through endless pain. Why us? Why couldn’t he sell us when he had the golden chance? I feel sick!”
@droopy_claus added: “Did anyone seriously not see this coming? Bates just using the takeover as a smokescreen to not spend on transfers.”
Referring to the explosion of comments on Twitter, @ronanfarrelly17 said: “Leeds trending for all the wrong reasons yet again.”
Meanwhile, Leeds manager Neil Warnock has put Robbie Rogers and Danny Pugh up for sale this summer.
They join Billy Paynter, Paul Rachubka, Paul Connolly, and Ramon Nunez on the transfer list, as Warnock plans to raise funds to sign a striker.
He said on the club’s website: “You have to look at what you can do, We’re looking at forward players and it might be that we have to move one or two on, so we’re going to circulate the names of Robbie Rogers and Pughy on the transfer list.
“I’ve had a chat with both of them. In Pughy’s case he’s had a good pre-season and he’s a bit unlucky, but in the areas I think he’s good in I don’t think he’ll get much of a look in.
“He needs to be playing games. It’s not closing the door, but if we can generate some income it helps me with priority positions.”
Related Articles
Breaking: Leeds United takeover collapses
THE proposed takeover of Leeds United by a Middle Eastern consortium has collapsed, according to the Leeds United Supporters Trust.
www.yorkshirepost.co.uk/sport/football/leeds-united/leeds-put-rogers-and-pugh-up-for-sale-as-twitter-fans-vent-anger-on-ken-bates-1-4818598