Remember early summer when fans were on an incredible high as the club added validity to takeover rumours by admitting they were in talks with potential investors?

As far as the fans were concerned, Leeds United were going to be the new Manchester City.

It seemed fitting too, because like City, Leeds’ rollercoaster existence has been par for the course. We’d been through it all together, had our ups and downs, bought the t-shirt and settled in for round 2… or 3… or 333 depending on your age and years of bought and paid for suffering.

But like City, there was a shining light at the end of the ride. A new era was to be spearheaded by some oil-rich Sheikhs, and Leeds United would rise like the proverbial phoenix to the top of the English footballing pyramid, where we’d join our fellow journeymen Manchester City as we peered down and laughed at Manchester United’s dying empire.

That was the dream anyway.

This being Leeds United, “living the dream” is never as simple and straightforward as we’d planned. There always seems to be a trade-off of sorts, whether that be underachievement or a rapid descent following every high, supporting Leeds United is like living with a heroin addiction. Sure, you’ll get the occasional, albeit extreme high, but you’ll spend most of your life shunned by society, desperately pleading for another hit from shady characters who promise you the world and living in total denial that a better life may be possible outside the bubble of reaffirming addicts you surround yourself with.

Despite the trade-off Leeds United have to make for any semblance of a high, we keep coming back for more, because like any good smackhead we know that “we have everything under control,” that “we can quit any time we like” and that “this time, it’s different.”

But history doesn’t suggest anything will change or that Leeds United will ever be a drug from which you’ll get a prolonged high.

Don Revie created a side that was feared throughout Europe but despite their dominance, managed just two league titles. There was far more painful near misses than there was celebration.

Howard Wilkinson came, he saw and he conquered, defying all odds to carry Leeds United to their third top flight title in 1992, only to plunge to a 17th placed finish the following season. Who else does that? As comedowns go, Howard Wilkinson’s was probably the hardest we’ve ever experienced. Until Ridsdale came along at least.

By now, most Leeds United fans have developed a defensive mechanism they use to shield themselves from these comedowns. It’s quite simple really, we just expect the absolute worse and are seldom disappointed. Whether that be denying to ourselves that a takeover is even possible, or refusing to believe that Ken Bates is anything other than the spawn of Satan, it generally serves us well.

But alas, even the most headstrong can be lured back in. Hope is the drug that every football club is built on and it doesn’t matter how jaded supporters become, sooner or later, they’ll once again be consumed.

All it took was a couple of brief statements from the club and our defence was shattered. One small hit of hope and the next two months would be spent in a restless frenzy, desperately rummaging through the gutter press for any semblance of largely poor-grade hope that would hopefully prolong our ever-fleeting high. We allowed these shady, evil characters to lure us in, keep us buying into their personal brand of hope and like every faithful smackhead, kept coming back for more – however implausible, or un-Leeds-like these promises we were fed appeared.

Amidst all the nonsense however, the takeover still appears to be pending. It’s small comfort to the masses, and maybe I’m refusing to let go of my addiction, but Neil Warnock continues to refer to the deal, we’ve had no statement from those believed to be involved announcing the deal has fallen through, and most crucially of all, Ken Bates still remains silent. Had these investors walked away I guarantee Ken Bates would have been slating them by now.

Our high came too early and proved impossible to follow. We expected an immediate follow-up, an announcement that the deal was done and Leeds United were now quasillionaires. We expected a flurry of top class signings to be unveiled, a roadmap for an era of dominance to be set-out and an unremitting run of highs to follow.

We’d all assumed – more through hope than logic – that this deal was nearing completion and that the buyers would want to be through the doors as quickly as possible to thank us for our unwavering support and reward us with a summer of massive spending. “Surely they’d want to be in place and have all their players signed by pre-season?”, we reasoned, never giving a second thought to the complexity of due diligence and the mountains of legal work it takes to complete the takeover of any business – particularly those Ken Bates is involved with, whose assets are held mostly offshore through a maze of different companies.

It’s possible that this takeover could be completed in days, weeks, months or never. It’s a precarious situation and a deal which no successful businessman was every going to rush – no matter how difficult that may be for us fans to handle – but until Leeds United announce that the deal has either been confirmed or fallen through, all we can do is learn to cope with the cold sweats, uncontrollable shakes and longing desperation until the shady bearded villain of our tale offers us another fix.

97 Responses

  1. Captaincrash

    What could cause the due diligence to be this ‘lenghty’?

    a) it was announced at the evry, very start of the process and not (as was assumed by us all) after much work had already taken place

    b) the buyers are having difficulty pulling the money together

    c) buyers and owner cannot agree price

    d) there is some element or elements proving a major bump in the road – future revenues of certain assets etc

    All the above (and perhaps more) would be perfectly logical, but many acquistions of seemingly more complex businesses are done in 6-8 weeks. Let’s hope its nowt major and that the white smoke is seen next week. At least believing that will make for a better weekend. And come on Ross, sign up will you.

    • TSS

      It think it leaked a lot earlier than people first thought. The first statement was a bit of a “make us an offer” pitch to other potential buyers which I doubt the club would release if they were at an advanced stage. Looked like Bates trying to strengthen his negotiating position to me.

      We did find a takeover that took six months earlier in the summer (I forget who). I’ve also spoken to a lawyer who deals with this kind of stuff and whilst he has no experience in football clubs, he said a business takeover takes a lot longer than people realise – months in most cases – and that the offshore setup Leeds have (he’s not a fan, I had to try and explain) could lengthen things, especially if things appear to be hidden behind these companies.

      • Captaincrash

        My gut still says it is a yes, a takeover will happen. A combination of points a) and d) from the list. For sure the offshore trust angle will not add to the speed of things as you say. As ever I try to remain an optimist despite all that has happened!!

      • Jumblatts

        I still (rather optimistically) believe that a deal has already been done and new owners are in place, but it hasn’t yet been announced because otherwise pricetags on players would rocket, i mean we have spent more this season already than we have in the last 5 or so years combined, i know its all money from sales, but its still not like bates at all

      • sniffers shorts

        I have just heard on very good authority that the reason no deal has happened that the bahrainies wanted to pay on three stage payments, bates wanted it all up front . My cousin plays golf with Gwynn Williams,. However he said it is being thrashed out so no news may be good news.

  2. Decky Quinn

    In all honesty I unfortunately believe that this takeover has hit a serious snag in the due diligence period. Whether it is a mountain of secret debt hidden by that b*astard Bates or something else, it just does not seem right for it to be going on for this long and for us to get no official update on what is happening. Surely the investors, as you rightfully say, should have already made a statement of intent or at least speak to us fans
    I hope to be proved wrong and for us all to be gleaming with expectation after our “new owners” come out of the wilderness and state that they want Leeds United to be a force again. Whatever happens, I will still be supporting the one and only Leeds United. M.O.T

    • LeedsForLife

      Why do you think the investors should feel any obligation to speak to us fans? We’re just the punters, the customers; we have no say in the ownership or running of the club. And it’s not even as if we’re going to take our custom elsewhere in disgruntlement. They are businessmen, and hopefully hard-nosed and professional. We’re just customers with only one shop to buy from. All we have is hope, really. And how often does hope see us right?

      • Ron

        Bingo. Spot on. I am just happy we continue to assemble a team that will at least go down without a fight every match. The silence on the takeover front may also be a result of Ramadan. Keep your chins up comrades. Truth be known, as much as people complain about the drama which is Leeds United, we’d all miss it if we suddenly became just another football team.

      • Decky Quinn

        After reading this I suppose you are right mate. It was just me most likely being in an ideal mind of thinking that we would all love to see, the owners bascially licking our a*ses, constantly making statements about how much they want Leeds back in the Prem and that they feel our pain that we have suffered at the hands of a rich old fart who only cares for bleeding us dry. Hope is all we can do, you are correct sir! M.O.T

  3. Peregrine Carruthers

    So where is this money for transfers coming from?. Certainly not from our former lord and master, the now silent Cuddly Ken? Wouldn’t be surprised if we have already been taken over but it just needs officially rubber stamping?

    • TimPM

      £3.5-£4m in player sales, only £1.5m spent so far at best guess. Say we spend 750k on Peltier that’s still only £2.25m… we’ve done nowt out of the ordinary pattern so far. Sell, sell, sell. And Spend SOME of what we have left. Spending all of it will be a major change alone

      • Jumblatts

        Yeah but its different to the frees and loanees we usually get, and also theres talk of CMS, who wont be cheap. I know it might not/probably wont happen, but When in the past few years under bates have we even talked about spending that much on one player, let alone the rest we have already spent. Keep the faith…

      • TimPM

        Yeah and we’ve never got this kind of money for our talent before. Howson was a basic level of £750k plus variables, Johnson/Kilkenny/Schmeichel was about 400-500k overall, Gradel was E1.5m which turned out to be less than £800k because of a bad exchange rate over the months.

        I really hope we’re in a takeover and the fact LUST are confident they haven’t been duped is a help, but we’re not spendng any secret stash at the moment. We could do tomorrow, but as of today we’re in the same operating style with one massive difference – Warnock has been amazing in the window.

      • mrbigwheels

        Warnock has been amazing in this window… and will continue to be, (imo).

        Yes we are in the same operating style, may well be for some time but I have full faith in Warnock to continue to supply our fix within his limited ‘supply’.

        Bates isn’t interested in the team, the football or anything remotely connected with the matchday other than personal cashflow, his programme ramblings and Yorkshire radio.. oh and his secret desire to be ‘a builder’… He doesn’t need a drug… he makes his own.

        Now TSS has re-classified me as, let me call it ‘drug dependant’,(am not too keen on being termed a heroin addict, am not looking for that much clarity in my present life), I do feel a sense of relief that I’m no longer a ‘moron’, something I’ve had great difficulty coming to terms with.

        Let’s get happy!.

        My theory regarding Bates prolonged silience is that Neil has actually locked Bates in the coalhouse and said to Shaun… ”you get on with the takeover stuff Shaun, keep the middle e’s happy, I’ll sell and buy a bit, get a team together, it’s not rocket science and when the money comes in… we’ll give the fans the key… there, sounds like a plan Shaun… off we go.

        Amazing Tim what good ‘stuff’ does for a poor fans weekend living the dream that Bates will be gone forever, and the football at ER will only get better because of that fact alone… and we all played apart in it.

        If we are being duped then thank heavens Warnock is here at the mo’ because lesser men would crumble when Bates ‘reveals all’

  4. t croft

    Till it is signed and sealed I am not buying a season ticket or any thing from there shops

  5. Norlander

    Maybe the take-over is already sorted and the new owners are being smart by not announcing it for fear that other clubs will put up the price of players we’re after. It would explain why we’ve been buying players after – allegedly – being unable to raise the money to buy Ward

    • TSS

      Player sales have funded purchases. We’ve also cleared a lot from wage bill and league member share comes in at this time of year I think (very sizeable sum of cash)

      • Matthew

        Surprised how many people failed to see that TSS. Said enough times myself that players were coming in as and when others were sold/wages cleared.

    • TSS

      Clutching at straws mate, that theory makes no sense. If Leeds started offering money to numerous clubs for players, the clubs would suspect we’d already been taken over. They’re aware of the situation and aren’t stupid enough to fall for it.

  6. Tare

    Well that was one from the heart, as soon as I could give you answers I ‘d give them to you. There is no easy recipe here for the Whites business transaction process; all these KBs off shore and domestic activities are very well known in financing sector so what that really means in the mean time: huge army of advocates has been going through numbers and ownership terms if and when….. These lawyer boys are getting serious money because they have this size of business under tag “once in a lifetime”. Okay you can refer to ManC and recent Forest takeovers but still do you really think that they are bigger than us? Tare

      • mrbigwheels

        Tare is a Viking… Vikings are Warriors… Warriors are passionate in their Battles. Get ready for the Great Battle ahead…

        We need the shit scaring out of us!. Some have become so weak!.

  7. Terry

    I still think the takeover! Is still coming like you say surely the club would make some statement! Saying it fell trough…I think that Bates is out of the picture or will be when he signs! Leeds Utd over to the new! Owners…Also at the moment Ramadan! Is in full flight and not much is done! Until It’s finished…Hope I’m not looking for a fix anymore lol…

  8. wildorange

    TSS, as I have said elsehwre on several occasions DD does take a while. I have been directly involved in four in my business life. Tow buys, one sale and one where is just a ‘sleeping’ investor.
    If the suggested asking price is in the region of £50-60million then I have not been involved in quite such large transactiosn but the size of the bill is no real indicator of duration of DD. The shorttest I have been involved in is 2 months [where we knew the business to a degree having traded with them for several years and been minority investors for 12+ months] and the longest 4 months.
    You are correct about the mountain of paperwork, but in theory there is no reason why offshore involvemwent should be a problem in itself.
    If DD hadn’t materially started when the ‘we have signed a confidentiality agreement’ was put out then we could be in for a wait. The agreement usually prefaces any significant legal work.

  9. Jack

    It wouldn’t make sense for any takeover to be announced until Warnock has secured his ‘trophy signings.’ As we’ve seen with Manchester City’s spending habits – as soon as clubs get wind that you have a bit of spending power, they automatically expect you to pay a premium for a player

  10. Sam

    What I,and many others, don’t want is to see Uncle Ken’s face peering up at us from the opening home match programme!
    I can just see his senile ramblings now “it wasn’t me, time wasters, no money etc etc”.
    Has it all been a big sham to encourage season ticket sales/renewals??
    Oh I hope not…..
    “We’ve had our ups and downs….” must be about due an up about now??

  11. Decky Quinn

    Kenny /
    Peltier?? Lees Pearce Drury
    Varney Austin Norris/Green White
    McCormack Becchio

    This is our possible starting eleven at the moment, (obviously Peltier deal pending but looks a sure one). Does anyone seriously believe that this team can win promotion? I know that Warnock is currently looking for the “icing on the cake” players, the quality and creative sparks to you and me, but who really is available at such cut prices? Boyd and CMS have been linked, but to me CMS is not a player that is going to get 15 goals a season never mind 20+ and to be honest I do not know much about Boyd but surely someone higher up the championship or even a newly promoted premiership team would have taken a stab at him by now? Because he is not a young prospect anymore.

    With the backup of players such as Ashdown, Craine??, Brown, Pugh, Thompson, Gray, Somma among others and a handful of youngsters (poleon, etc), do any of you truly believe we can get promoted pretty much on a shoestring budget?

    Thoughts? MOT

    • Dje

      Nope, but I’m not sure that has any bearing on when and if we may get a takeover.

      To be honest, now Snodgrass has gone and there are signs that McCormack may re-sign, the impetus of getting promoted this season (ie. to hang on to our final jewel) has now gone. Heartbreaking as this is that we are likely to be in this league for a couple more years, you have to say it is pretty liberating too. We can only over-achieve this season, IMHO. Which’d at least be some sort of triumph. MOT.

      • Decky Quinn

        I really do think that this year is a great opportunity to get up, as I think that there is no real stand out squad across the league (on paper anyhow). Blackburn, Bolton, Leicester and Middlesbrough are the clubs I think will be thereabouts because of perhaps their financial backing but then you also have Cardiff, Blackpool, Wolves, Shef Wed etc.
        Plenty of teams should be in the mix and we must do our best to be amongst them and Warnock know’s this. Regarding a takeover of some sort, if it was to be finalised say on monday along with a statement of them giving warnock a modest sum of 3-4 million to spend how he wishes then I truly believe that he would work wonders with this money and would get the 3-4 “star” players that would turn us into serious automatic promotion contenders.
        It is just so frustrating because I think warnock has done a good job so far getting rid of the stay-ons and also the ones who did not want to be here anymore and I like the way that he has brought in fighters and that important spine to the team, but to get the quality players you need more money that 1.5 million and that is something he can only get at the moment by selling another key player. MOT

      • Dje

        I sort of agree, Decky. With the exception of West Ham United I thought the same as you of last season’s Championship teams with no real standout team, and we never really got in the running then against Southampton or Reading then.

        This season I think the depth of teams like all the ones you mention – except Blackpool, who I think will be very ordinary, and Wolves who will come a cropper with their untested Norwegian coach, but I’d add Charlton, Burnley and Huddersfield if they can hold on to Rhodes – will lead us to trouble in the second half of the season. We really have a very small squad. That and the fact that we have replaced quality with strength. So yes we’ll be hard to beat but it leaves us vulnerable for when teams work out after 15-20 games of the season how best we can be made vulnerable. So unless someone like Rodgers can really become a pearl I think we are on for another season where we fade after January.

        As you say, that quality takes a couple of million to bring in, and I really can’t see anything in the silence of our apparent takeover to suggest that it is remotely imminent or likely. Yes it good change within a day, but on form and how quiet the club has become I’d put money on it not changing until the season is long underway.

        So maybe a January transfer blitz?!

  12. Dje

    New season starts in 8 days.
    Takeover to be announced as ‘fallen through’ in 9 days?

    • TSS

      TSB asked Dewsy if they could expect a chairman’s column in Shrewsbury programme, he said he was expecting one.

      • TSS

        Maybe we could create a theme of Eminem-soundtracked videos following on from Warnock’s new season one. “Guess who’s back… back again… Shady’s back…”

        Or not.

      • Matthew

        It’l be the Chairman we all know and love.

        That said, fuck me. He’s allowing Warnock to use the clubs money, something Grayson should of been allowed straight up to do.

        Granted he signed a few duds on high wages, true enough. But Grayson should of had the freedom to use transfer money.

      • mrbigwheels

        Matthew(can’t seem to reply directly to you)…

        What ever our view of what is happening, who is in charge, or whatever Grayson should have done or allowed to do…

        Cats and mice never go together.
        Men who know where they stand with each other do…

        As the man said… ‘You can’t kid a kidder’… That’s exactly where we’re at!!!. and we may all be well fortunate to have them develop this present position.

      • Matthew

        Sorry, what do you mean?

        Just assume I’m stupid and reword that In a simple way please lol.

  13. Angry Leeds fan

    I have been thru all the ups and downs over the past 4 decades with Leeds Utd…. I have to say that Master Bates has to be the most vile untrustworthy piece of garbage I have known in football.. He will do anything to either line his back pocket, even create this imaginary take over farce, to sell season tickets or anything!!! I am really hoping the take over is real.

  14. Alf Tupper

    Brilliant! Thoroughly enjoyable read that leaves me craving the next hit.


  15. Richard

    I believe the potential new buyers are having a problem raising the funds. The guy behind the T/O was relying on a ‘group’ of investors pooling the funds together. I believe one or more have got scared off looking at the DD report and the guy spearheading the T/O is trying to find a replacement investor. In the mean time it plays into Bates hands as he does not need to dip into his pockets for any funding of new players and even when/if it falls through he can turn around and say something along the lines of “Leeds fans wanted me to sell and that’s what happens” – Everyone will be accused of being time wasters, Bates will shift some blame of trying to appease LUST in an attempt to discredit them and then I expect Warnock to leave due to false promises about being backed.

  16. simonhorsforthwhite

    One problem maybe

    A) ownership of ground and stadium

    B) if we buy awesome players the problem for the wud be owners is it will cost 120 million pounds to all shareholders. Which works out at 5 mill per shareholder.

    Wud you want to pay 120 mill for promotion and prob 55 mill
    To ken master bates !.

      • simonhorsforthwhite

        When leeds were in financial probs. The shareholders signed an agreement that if leeds get promotion then the agreement signed which ends by 2017 . If leeds get promoted ken bates or whoever owns leeds pays the shareholders due to this agreement signed sealed !. Thats why bates dont want promotion but hopefully any new owners wont be botherd about this agreement and buy the club.

        I hope we get promotion . I hope . I hope we have billionaire owners i hope

      • TSS

        Makes absolutely no sense whatsoever.

        Leeds have to pay £10m if promoted, but they’d make an extra £40-50m if promoted so overall, Bates is £30-40m better off.

        I don’t know who started this theory in the first place but it’s absolute nonsense that has been repeated for years and seems to be accepted as fact by some.

  17. reddo

    Ken just cannot keep his mouth shut, but this time he is and the reason is the new owners made him sign a confidentiality agreement, he dare not say anything in case it all falls through and he doesn’t want that. He’s got a lot of money coming to him, he wont jeopardize it or they’ll walk, he hates LU but he loves money more, don’t you think he’d just love to rub your noses in it.

  18. Tare

    Believe me guys, KB is a water under the bridge. We must have this “birds eye view” here because we are LEEDS UNITED. New owner and what I have read and understood here is that he is LUFC follower and a stern fan since 1970s (like I am) so patience is needed because: This recession time in Europe, Sterling v Euro currency issues, KBs off shore activities and ownership of ER/Thorp Arch then you have a very hot soup here to swallow… But there is always positive outcome of it, clear the decks mates and look for the new pastures. Tare

  19. mrbigwheels

    Excellent article TSS…

    Have just checked a few blogs and fb… Leeds AFC are certainly doing a good job of promoting the above text…

    That’s stirred a few ‘hornets’ up… This friday evening will be lively!…

    My thoughts… ‘needed saying’.

  20. reddo

    Iv’e just had a thought, would you just love for him to take over the scum, lolololololololol

  21. leedslunatic

    I don’t buy into the idea that the takeover announcement is being delayed to avoid other clubs increasing the value of our potential targets. At any given time, a potential target of ours, may be attracting interest from several clubs. If the parent club were to overprice our targets, based on speculation that Lufc may have a few quid… It could backfire immensely and deter all other clubs. I’m not saying it never happens… Just doesn’t seem to be a logical reason as to why we haven’t heard anything

  22. RoystonLufc

    I think we have to be realistic here. Yes, the deal will go through; yes, it will take ages to unravel the Machiavellian set-up during the due-dilligence process; and no, the new owners are not going to shower us with untold wealth. I can imagine a stable board who will have Bates’ business acumen, but will also be willing to invest in the future. By “invest in the future” I don’t mean we’re the next Man City; I just think we’ll have access to more funds so that we can at least build up a Wilkinson-style team of fighters to take us up. After that, with sound management we’ll consolidate our position and allow the business to grow organically, rather than the boom-and-bust ways of old. I’ve woken up now and it’s corn flakes for breakfast…

  23. Tare

    The promotion is paramount. Next season (2013-2014) Sky Sports will invest billions to PL spectators all around the Globe just to make some kind of gesture towards clubs which are after all boys in men’s shoes. So one has to believe and never surrender. Tare

  24. Mr Cynical

    It was obviously just a Bates bullshit story to sell a few season tickets. It was clear weeks ago this takeover wasn’t going to happen. You only had to look at the players we were signing to see this.

  25. oldlufc

    Takeover – forget it, just another ruse by KB to try and keep ‘the morons’ quiet.

    As for “only to plunge to a 17th placed finish the following season. Who else does that?”

    Answer – 1936/37 Champions relegated the following season 1937/38 – none other than Manchester City!!!!

    • TSS

      It started out so very different, I’m not sure how I ended up comparing LUFC fans to heroin addicts lol.

  26. Mark goodwin

    Great article
    Just hope that we make it to the promised land.
    Bates is not to be trusted so I would be taking my time going through DD even if I was buying a sweet shop off him.
    I don’t think NW would be referring to the new owners if this had hit the buffers but with Leeds always look on the runway for ice

  27. Paul

    T croft,you say ya not buying a season ticket,why ????is Leeds united not in your blood or what .get a grip?MOT

    • TSS

      I haven’t bought one. I’ve had one for every year of Ken Bates’ reign (and before that) but I made a decision at end of last season that I was no longer willing to fund his madness. He’s asset-stripped our team of all quality season-after-season whilst spending all our ticket income on pointless, loss-making vanity projects and court cases.

      I’ll attend all the away games still, and will no doubt attend a few home games, but I can’t justify handing over that kind of money to continue supporting his nonsense any more. Your argument would be valid if our ST money was benefiting the team but it doesn’t, it funds Bates’ narcissism. The only reason he’s still here is because we’ve enabled it by supporting his regime with cash, the only reason he’s leaving is because the club was starting to struggle financially (as the last accounts show) and that’s because fans voted with their feet. Fair play to all of them.

      • Matthew

        Away games are better these days anyway, think you’d agree.

  28. Lufc1979ish

    These new owners are probably looking at this more as a long term thing than a we must go up this year thing. If it takes longer to bring thr club back into a straight forward ownership where everything like the ground Thorpe arch is all part of one company then so be it. I believe they want to get the foundations as rock solid as possible before thinking about who we sign appeasing the fans etc. I think long term we might thank them for this approach if I’m right and we can have a transparantly run club with no skeletons in the closet like ken had, that’s surely worth taking a gamble on another season in the championship if that’s what it takes.

  29. trueyorxman

    The reason for the delay is that there are 5 businessman from the Middle East involved and as yet have been unable to meet around the same table to finalise things due to other commitments

  30. Michael lazarou

    I thick the takeover hit a big snag for one reason or another hence the type of signings we got or infor and are best players and captain leaving, that’s why snograss left, he got some information about where the takeover was going, and at the moment , I think the takeover is70%30 that the take over is going to fall through, may be because or bates asking price or owners not willing to pay enough, or may be another reasons, I think they are still in talks, but it’s not looking good for takeover, I hope I’m compleatly wrong and it goes through, but I won’t hold my breath,

  31. Tare

    It has been like hell to get to the point of this concurrent episode going on; Yes we have new owners, KB is Sitting Bull until media coverage. So spare me from the rest of it; If there is now news then stick to it. BTW if NW has been credited to hire players despite of this awkward situation then if that does not ring a bell then what does it (and do not tell me of this +/- KB thinking here, he will not be here and who is confirming the long term contracts? ????? Tare

  32. oldschoolbaby

    I`m looking at it like this:

    Bates loves the sound of his own voice
    He has signed a confidentiality agreement
    It is summer time and he has a second home in the High Court
    If he was pissed off he wouldn`t give a shit about a confidentiality agreement
    He is keeping quiet

    Consequently, through highly dubious logic, I am concluding the takeover is still going ahead

  33. Matthew

    Won’t be long till I can say a certain guy was officially speaking bollocks. Loving it.

    Not loving the fact Ken Bates will be at the helm come seasons start, as said hundreds of times by me on here, nah, loving the fact I was right about a certain guy on Twitter who kept saying the takeover is happening will be proven wrong.

  34. Jacko

    Leeds 4 life, no matter what happens. This takeover saga is not very complicated, does the business make money,YES, does the business have a big fan and sidles base,YES,is it going for a good price??????who are we buying the business off????????? Wait a minute why are my pants around my ankles :-D
    unless the new owners are willing to take a punt at this, then it’s a no no
    I hope and pray it does go through because us dirty Leeds fans deserve a break after all the shite we’ve been through, also money must be spent on the youth, and we must keep them

    • TSS

      Leeds only make money through player trading and the preferential shares that appeared in last accounts. It’s nowhere near as profitable as it looks, all Bates’ vanity projects have cost us a fortune and are losing cash.

      • Matthew

        Amazing how little is speant on players wages, when you look at how much the club owns, and how much is speant.

        2010: 12.43 million
        2011: 14.87 million
        2012: ??

        Half the clubs income comes from Gate receipts.

      • Matthew

        ^Quoting wage totals for each year above.

        Sorry this comment was badly worded by me.

      • TimPM

        Agree with you Matthew. A while back someone tried to justify it by us having high “other” costs. I said, yes, £20m spent over the last few years on conference suites etc! 1.5 years of spending at our current wage levels…

  35. Head Hunter

    An excellent and intelligent article.

    Good things don’t happen to us I’m afraid my friend. Just remember though most of us can say we were league champions baby! Not everyone can say that.

    Hopefully see you next season TSS!!

  36. Irememberparisin75

    We all want better, we all want success, we all want Leeds to be the Champions of Europe, we all know it might not happen, we are Leeds United, fanatics every one, we all know we wouldn’t change our addiction, our comrades, our band of brothers with anyone, we are mysterious and magnificent, we are Leeds and we will overcome.

    • Tare

      Remember Paris in 1975 when the Whites were robbed by referee of the true legacy of DRs (RIP) vision for the life of this Great Football Club of LEEDS UNITED. Yes we have all heard before here that what is past is past but if you do know your family when growing up, then what is the point in life: you cherish them and wish them well in the future but in the mean time they are facing really bad enemies and ones you can never beat in the mean time. Tare

  37. fringo

    Agree about the season ticket. You’re buying a pig in a poke if you buy one now before this “Takeover” is resolved.

  38. Deano

    This better get resolved soon otherwise the only thing middle-eastern going around E/R will be the fans who have the Hump haha

  39. number1inyorkshire

    this take over will happen because if it wasn’t going to it would be over now ..

    Due diligence does take a long time there is plenty to scrutinise with Bates every T and I .
    then there is all the yorkshire radio stuff .land and ground leases ,loans etc etc

    the list will be endless and if i was buying from Bates i would check everything 10 times too .
    patience is the word ,but i have to agree i am getting bored with it

  40. IanLeeds

    Is it wasn’t a takeover or there wasn’t due diligence, Then Bates would have been all over the papers with the Police trial. He’d have slagged off Snodgrass for being greedy and not accepting half as much as he’d get anywhere else. He’d have been complaining about agents and not being able to contact anyone because they’re all on Holiday…as if!! Bates has never been able to keep this quiet, he’s either very ill or not in the loop! and there certainly wouldn’t have been any transfer fees paid out at all!! So I believe that there is a takeover and if it takes until the end of the transfer window then so be it.

    • Hopeful (the 8th dwarf)

      ” he’s either very ill or not in the loop”
      Can’t we hope that it’s BOTH!

      • Jumblatts

        I have heard that he actually is very ill, dont know how credible that is though. I sincerely doubt he is not in the loop though, it is he who is selling the club, how can he not know the details?

  41. Grumpy

    There is a bright side to this. We all think we are suffering by not knowing what’s happening. Imagine poor old Ken (the bastard) he knows exactly where we’re at but can’t say anything!!! He must be writhing in agony.

  42. Tare

    Is this site really for doom and gloomers here, “I told you so”-creatures? This huge club of the Whites is more than a node in history, it is and will be only major force v scum and we all agree with it…. We must get of this division, so to say, because we are LEEDS UNITED as simple as it is! Tare

  43. chris

    Looks like Ken will sell just after the transfer window closes to leave you in the shit

  44. bert

    simple its ramadan the month of fasting it will be done after it finishes which is around 20th august

    • TSS

      The world doesn’t stop for Ramadam. Business continues as normal, they just don’t eat during the day.

  45. Old Whitey

    Hi Tim, Great article once again, can’t you get a job with Yorkshire evening post? all they do is spout re-hashed garbage. i think there are two main points to consider regarding players, most are on one or two year contracts, which means they’ll be binned if we get promoted in that time, also they all have a low cost base with wages etc. the quality signings NW wants will hopefully be those who will form the backbone of the premiership team.As for the takeover, i think the new owners are in place, if we believe NW as we must they were the ones talking to snoddy; if it had been Bates snoddy would have gone long ago; there is also the question of revised contracts being given to White and McCormack, neither was ever going to happen under Bates. In any takeover there are lots of things / changes that happen in the background long before any formal announcement othrewise the incoming management will be running round like headless chickens trying to sort stuff out. (One of my former employers took iver three companies at the same time)it should have been total chaos, but we had been working many hours overtime and in secret to pave the way for a smooth transition, admittedly thos firms were run professionally unlike Bates shambolic set up. Keep the faith it will all work out, MOT

    • TimPM

      Haha. This one was by Dave… and he’s a better writer than me, he should be the one angling to be a journo!

  46. Reid_er

    Haven’t really commented here in a while so first of all I’d like to say great article. Always have a high standard and very intelligent and fair writing on TSS but this has been one of my favourites. On the take over I’m still going to stay patient on it. If I was buying a house I wouldn’t just jump into it either so it’s understandable for this to take time when it’s on such a big scale.
    It’s a ray of hope that we haven’t had in a long time and none of us were expecting it so let’s stay patient. If anything at least it has kept Ken Bates silent so let’s be thankful of that. Now all we need is that prick that runs that west ham blog to go into due diligence and shut him up for a while! As someone mentioned earlier I’ll be very interested to see if KB will have his usual view in the programe at the start of the season.
    On the squad I feel NW has done a great job in the market . I know we are lacking a bit of flare but I expect that to change soon and in fairness we haven’t been short of it in the last few seasons and it hasn’t got us the results. I for one will take 1.0 wins all the way back to where we belong! Enjoy the season ahead fellow fans!

  47. hitch

    SILVER Fox
    Hi all you whites keep the faith the resone bates has to sell is due to his illness
    he can no longer fly and that is the reason for the sale if he attemps to fly he needs to take ox’ygen with him i have this information from a good source who works in insurance so this may also be we are not hearing from the old dog as he is gasping for breath due to the amount coming to him.


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