• Leeds United Message Board

  • Jez Jez Jan 8, 2013 12:04 Flag

    Cooking the books.

    First of all let me wish you all a happy new year. Dont get chance to post much on here anymore due to restrictions at work but i still enjoy all your posts.
    I found this article last night which outlines the financial affairs of the club over the past 12 months and looking at the figures one can only feel that KB is still having our pants down.

    http://www.thesquareball.net/leeds-united/2013/01/07/mortgages-debt-losses-finances-bates/

    All of his little side businesses such as Yorkshire radio and the pavillion are losing money hand over fist and thats without declaring that any staff actually work at the pavillion as there are no expenses for staff costs included. Whats more worrying is that since administration he has spent over £17m on the ground (that we dont own) and he has shouted loudly that these "investments" were to generate revenue streams that will leave the club on a sound footing in the future. I would love to ask him how long he thinks it will take to break even on £17M!
    The more you look at the figures you have to wonder WTF GFH have done in buying the club with all this debt hanging over them. Or as some are suggesting are they bed fellows with the crook and are just a front so he can continue to plunder at will?
    Actions speak louder than words and unless we get some quality in this month- and that does not include Clint Hill- and keep hold of Becchio then i fear that all is not as it seems with the takeover. We still have 3 weeks for them to prove to the fans that they mean business so i will bide my time until then and see where we are at. MOT

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