• Leeds United Message Board

  • Andrew Andrew Oct 7, 2012 18:20 Flag

    Why is Bates selling Leeds?

    From what little can be gleaned in the media, it seems that GFH Capital wants to buy Leeds United as an investment; taking a “fallen giant” that is languishing in the Championship with an estimated value of £50-60m, back to the Premiership where it will be worth £150-160m.
    On the face of it, this looks like a sound investment. With a bit of outlay, say £10-20m on players, Warnock’s Leeds could cruise to auto promo and the investors would double their money at the very least. So, astute businessman that he is, why isn’t Bates exploiting this, apparently, gilt-edged opportunity?
    In the last two seasons, when Leeds was challenging for promotion, instead of investing in the team, Bates sold key players. It was like he did not want to see Leeds promoted. Leeds fans, the football authorities, and, I suspect, HM&RC and the Serious Fraud Office, should ask, ‘why?’
    Despite Bates’ claims that he is not to blame for the unbelievably long takeover negotiations and the ‘confidentiality agreement’, on the basis of ‘caveat emptor’ (‘buyer beware’), GFH Capital’s lawyers would be fools not to check every last detail of Bates’ dealings that might leave their client with whatever liabilities that prevented Bates from realising this brilliant investment himself.

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    • Bates never wanted Premier league status as he would have been exposed by the rules governing that league.
      He was happy to stay in the anonimity if the lower leagues until he was ready to make his money.
      That opportunity now looks to have the possibility of coming to fruition, but he still needs to cover his back, and that I believe is the one reason for the delay.
      If GFH Capital are fronting this deal for money men (and despite their saying this is not the case, it has to be as they do not have £50M + in their own coffers). To blame it on the lawyers is a typical outburst from the man, as the blame always lies with everyone but himself. He will be calling them morons next along with the rest of us.
      Personally I am not bothered whether it is GFH money or kingmakers behind the throne as long as Bates is removed, and gone for good. The idiots (morons?) who believe Bates has saved the club need to have their eyes opened and hopefully one day the whole truth will come out.
      Well done to Warnock and the boys for putting us in a healthy position which any potential half decent buyer will see that they have a great stepping stone to promotion and the promised riches it will unfold. MOT