Leeds United Supporters Trust has confirmed the club is in talks with two interested parties regarding a possible takeover at Elland Road.
The club released a statement on Monday morning confirming they were in talks with an unnamed group of potential investors.
A statement on LUST's website read: "We are aware of firm interest from a number of parties looking to buy Leeds United... We understand that Leeds United are in talks with at least two separate groups. We also understand there is one firm bid on the table at present.
"In February we responded to [chairman] Ken Bates' suggestion that we "put our money where our mouth is" by asking any potential investors, who shared the aims and ambitions of our members and of our Vision Statement, to contact the Trust with a view to working together to take Mr Bates up on his offer.
"We developed a presentation so interested parties could see how working with LUST could help them and have been in contact with a number of people to explore ways of bringing about change for the better at Elland Road.
"As part of this ongoing work we have spoken to two groups who are interested in buying Leeds United. At this stage it is not possible for us to go into details about our conversations with these groups, as with a firm offer on the table we would not want to jeopardise any current negotiations."
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Bates has invested a lot of Leeds money in property developement in and around Elland Road, but if you can remember when he took over the club couldn't even afford to buy a Rawplug, I think it is now time for him to move on and let people who are interested in improvement on the football side take over.
Ken Bates can hardly be an ‘asset stripper’ when, apparently, the only asset he ‘owns’ at Leeds is the club’s brand – unless he is also the hidden owner of Elland Road and Thorp Arch – as stripping the assets of a band devalues it, diminishing any return on investment. So what is Ken Bates’ interest in Leeds United? After seven years of stewardship, Ken Bates is no longer seen as the man who ‘saved Leeds’ – too many unanswered questions have emerged about his take-over of the club regarding undisclosed, offshore creditors blocking other bids. During his tenure he has not invested in the playing side of the club to ensure its quick return to the Premiership, and all the revenue that top flight football brings. He is also alienating himself from an ever increasing majority of the club’s supporters. Property development would seem to have been Ken Bates’ primary interest in Leeds. A platform to air his egocentric, controversial views was a bonus interest. Football was a tertiary interest. In the past Ken Bates has boasted about his ability to ‘get away with breaking rules’. However, due to protests, media investigations, and questions in Parliament, he now finds himself in a parlous position. Before more penetrating investigations are conducted into his offshore dealings, he has to sell… Though you can bet on him fighting tooth and nail to retain an interest in property development at Leeds.
I'm no fan of Bates but if he's an asset stripper he's the worst asset stripper there's ever been! The fees we got for the players we sold were pathetic! And given the running cost of a club the size of Leeds it probably went towards the huge wage bill SG ran up with all the donkeys he brought in.
I agree with Pam
Leeds United Supporters Trust who on earth are they?
Richard yes i agree we had no chance of promotion last season - we finished the right part of the table IMHO - I am not saying we should not look for new investment / new owners I for one welcome it - All i am trying to put a cross is that LUFC fans owe Bates a sense of gratitude - listening to some fans at the matches last year Bates was a disaster etc etc but everybody to there own thoughts - Bring in new investors please the club requires it - Bates time is up.As for Mr Warnock i am not convinced I really hope i am proven wrong - but at the of the day his results with teams with very little money speak for themselves. I think we all agree as LUFC fans want new investment and the time is right but the investors have to be the right investors with the club at heart and nothing more except for money of course.
s_js I said it all in my last post, you know as well as I do that we started off last season with a team who looked like they were capable of getting promotion, by November Bates realised this and started selling off the best and most likely to acheve this (Barring one or two) by Christmas we were left with a team who would struggle in League 1. Since then we saw no attempted improvement by the January window, since the end of the season we have seen no new improvement, I get the impression that Warnock has had promises from KB but no visible support. I still think our only chance for Promotion is with new buyers
Richard i agree with your sentiments however love or hate Bates he did take them from near on closure to where it is now still going and with a chance of getting back to the big time -However what has he asset stripped exactly?there was nothing to asset strip when he took over. I can not say i dislike or like Bates i have never meet him to hear his side of the story,but what is true and LUFC fans can argue all day long about this statement without him LUFC would not be here for us to be discussing From Bates point of view he invested his millions into leeds when nobody else did so from that point of view we leeds fans cannot knock him. Maybe Bates has had his time and has understood he can not take the club forward as we leeds fans would like hence the talks , another point to look at maybe his age - he his no spring chicken any longer and maybe he is trying to secure the best deal from his point of view after all he will want his money back with interest and plus some. My main concern is who ever may buy the club what are there intentions - this is where we leeds fans should be focusing their minds . I am sure i will be shot to flames with the above ramble - however before you do just think about this - if it were millions invested and you were well into pensionable age what would you do?
This is just Bates using his Mushroom treatment 'Keep them in the dark for 6 months then pile manure on them' He has always been that type of person and always will, we were all masively relieved when he came in the first place but if we had looked at his history we would have realised how much of an asset-stripper he is. We can only pray that someone seriously is looking at us and that we can wave goodbye to Bates ASAP, otherwise we 'aint goin nowhere' unless Warnock can pick up players for nothing who don't want paying anything for twoo years.
It has always been the intention of Blue Ken..to hold on to LUFC until 2013 . 2014. but which time the club would hopefully and strategiclly be in a sound footing regarding debts..and poised to return to the Premiership ? this is now possible in the current climate..LUFC have an immense loyal fan base therefore with the debts under control it is as Phil Thompson stated some time back on sky sports...ripe for investment to the proper people, ken knows this and has been paiently waiting and working towards this aim..money money money..kens god ? let us hope without being to optimistic that potential investors steered by the LUFC trust, can see the worthwhile investment in such a massive club as LUFC. and that some proper and bona fide investors decide to take over our wonderful club assisted by un wavering loyal support from LUFC supporters. then hopefully not befire time we make a long but welcome return to the heights of the premiership. Marching on Together.
Technically Bates has done nothing wrong He does not have disclose who he is in talks with regarding a takeover - after all he owns the club - there are no shareholders to worry about so from a business point of view it is his club to sell -However from a fans point of view it stinks but there is jack we can do about it weather you love or hate Bates he has all the cards. One thing that has always puzzled me is if the likes of Manchester City being the size of club they are - at which point i would say they WERE smaller club than LUFC How did they attract such big investors ? Why cant LUFC attract the same - IS Bates holding out for to much money -after all surly he can see the longterm future of the club ,but my guess is he does not have the funds to take it forward - i suggest IMHO that greed is the over riding factor here.Thats my ramble for the night from a long term 35yrs + Leeds fan
its a non runner believe me !
Thats why the players havent been signed , bates wont wast a red cent of his own money now
Better the devil you know......unless it's someone seriously minted with a stupidly generous attitude
I thought my computer would have crashed, with all the Leeds Fans braying for the blood of Mr Bates. I think we should be very careful, for what we wish, look at Portsmouth, Rangers, Man Utd and others. The only recent takeovers that have successed are Chelsea and Man City. You can bet if Leeds is taken over it will be someone from outside the UK, who knows nothing about the Club and Football. We could find ourself, wishing that Mr Bates never sold us.
Please please please let this be true!!! Calling the old mans bluff is fantastic but this needs to be realistic and not take us down the path of Rangers! But we must all hope for investment that Bates is clearly now willing to do.
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