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      « L.U.S.T. Annual General Meeting 2012 & Public Meeting | Main | L.U.S.T. / FSF Policing and Stewarding Meeting Summary »
      Sunday
      Aug262012

      Leeds United Supporters Trust Update: The Takeover - Present and Future

      With the end of the transfer window less than a week away, Leeds United Supporters' Trust are very concerned by the lack of progress towards concluding the takeover of Leeds United.  

      The appearance of representatives from GFH Capital at Elland Road last weekend led to optimism that the drawn out process of negotiations would soon be over. The past week, however, has brought no further updates, and Neil Warnock is now publicly suggesting that he will have no money to strengthen the team over the next few days.
       
      Despite his difficulties in building a competitive squad, Warnock has managed Leeds to two wins so far, and he and his players have enjoyed the vociferous backing of our fans as they battle to mount the promotion challenge we expected this season. 
       
      Manager, players and fans are all pulling together to make this season a success, but these efforts could be in vain if they are not matched by effort in the boardroom. L.U.S.T. have enjoyed better relations with the club this summer after Shaun Harvey attended our policing event, and we believe the bidders are willing to work with us to achieve the aims of our Vision Statement. Ken Bates, however, has continued his policy of dismissing the genuine concerns of supporters through his programme notes.
       
      Over the last week L.U.S.T. have been inundated with requests for information, but we have felt that, with representatives of the buyers meeting publicly with Bates, a low-key period was the best approach in order to allow a deal time to be concluded. With time and financial constraints limiting Warnock's opportunities to prepare the team, we feel now is the right to time to bring that silence to an end.
       
      The position as we understand it is as described in this weekend's articles by Phil Hay in the Yorkshire Evening Post and TimPM on The Scratching Shed, and as alluded to by Neil Warnock in his interviews. The lack of transfer funds is indicative of a poor cash flow situation at Elland Road, which could leave the club in a precarious position if investment is not found. The takeover deal is now split into three independent parts, with negotiations between the club, the buyers, and Ken Bates. During the negotiation process, the buyers have made payments into the club; due diligence was completed several weeks ago, and the buyers remain patient and determined to see the takeover through.  We understand that a deal for the takeover for the club is all but complete, and only separate negotiations with Ken Bates are delaying the deal now.
       
      This week's spontaneous 'Pen4Ken' protest showed that many Leeds fans want the takeover deal to be signed as soon as possible, so that the club can concentrate all its efforts on building for the future. We expect there will be many more demonstrations of this kind if a deal is not completed, and L.U.S.T. will always be supportive of fans who wish to make their voices heard in peaceable and original ways. 
       
      We ask that Ken Bates, the club, and the buyers take serious notice of the wishes of the fans, and conclude the takeover as soon as possible. L.U.S.T.’s Vision Statement calls for change at Leeds United, and for three months now we have been on the brink of perhaps the most significant change Elland Road has seen for years. The future of Leeds United is more important than the personal interests of Ken Bates, and all parties involved in the negotiations need to pull out all the stops to make sure that the present opportunity is not squandered, and that the future of Leeds United is a positive one.

      Supporters can also join more than 7,500 other Leeds fans and have their voice heard as members of the Leeds United Supporters’ Trust by filling in the form atwww.lufctrust.org. Membership is free. Keep checking for updates on www.lufctrust.org, and our Facebook and Twitter pages.

       

      Reader Comments (14)

      if this takeover does not go ahead, then efforts have to be really accelerated to get this ferking parasite out of our club, its obvious to any sensible supporter of our club, that this wretched twat has put us through the worst 7 years in the history of LUFC. He has no intent on spending any money other than dressing the stadium up to attract future prospective buyers who he can then tuck up. NW has made it quite clear the squad is lightweight and prospects for promotion are looking bleak should we suffer any injuries or suspensions. He has come out and made this statement with the clear intention of laying the blame fairly on the parasites head. "Not a penny more" should be the rallying call to all true Leeds supporters until this parasite has been starved out.

      August 26, 2012 | Unregistered CommenterCheeswedge

      we need closure on this issue now for lufc and the fans especialy the fans MOT

      August 26, 2012 | Unregistered Commenterlufc till i die

      I can not believe that the situation that Leeds United are currently going through can be accepted by the governing bodies set up to take action against improper owners.. Ken Bates has "allegedly" done many a dodgy dealing involving our club the F.A need to pull their finger out of their backsides and get involved now.. Kenneth is obviously being spiteful towards Leeds United and its supporters for not agreeing to being ripped off by him.. Something needs to be done.. and i firmly believe that if this takeover is not completed before the transfer window shuts then it is for no other reason then spite.. what a nasty individual.. if he had of done right by our club we would have chanted his name with love.. instead we chant it in hate.. the only way to hit this guy is to hit him in the pocket where it hurts him most.. boycott all games and merchandise untill the club is running at a severe loss.. he will lose out big time and administrators will not let the club fold whilst there are willing buyers out there.. i just hope it can be concluded in a decent manner and not the manner which will directly hurt the club.. but if you have to cut off a limb to keep the beast alive better that then leave the rot there to kill it from the inside out..

      August 26, 2012 | Unregistered CommenterJayster79

      Can't someone just kill bate please>

      August 26, 2012 | Unregistered Commenterlegleesleedsfan

      the only thing ken bates will understand is an empty elland road

      August 27, 2012 | Unregistered Commenterjames conway

      WHAT WILL AN EMPTY ELLAND ROAD DO FOR THE CASH-FLOW??? boycotts don't work ! BATES will go when he is ready cant anyone see? the more we shout the more he digs his heel in! he loves a fight and loves to wind everyone up that's his way it always has been! watch out because he will twist it so if the takeover falls he will blame the fans mark my words ! don't give him the chance to do that ! i want him out but he as got everyone by the short and curlys its down to him and he knows it !POWER CRAZED MAYBE STUPID NEVER !
      KNOWING HIM HE WILL PUT PEN TO PAPER THE DAY AFTER THE TRANSFER WINDOW SHUTS! JUST TO SHOW EVERYONE HE CAN!

      August 27, 2012 | Unregistered CommenterONE4ALL

      To me it is obvious, he will probably sign the moment the transfer window is closed!
      His final two fingered salute to "The Morons" and all other normal fans alike!

      August 27, 2012 | Unregistered CommenterAuYorkie

      I am indeed going to sign the day after the transfer window closes.. but I have not said which transfer window. It is also outrageous that the new owners want me to be liable for anything I have done that may come to light after I'm gone. I mean, what could there possibly be with a man of my integrity to worry about?
      And as for trying to starve me out let me tell you you will need all the money you've got if you want to get into 'my' casino in the one place in the world crying out for a Las Vegas II, yes Beeston! See what a clever business man I am compared to you morons!
      And don't forget to come along to Peter's new question & answer sessions called On The Lash with Lorimer in another new bar you've paid for where your questions about how great Chelsea are will be most welcome.

      August 27, 2012 | Unregistered CommenterKen Baits

      its just all so sad that 1 man can do this to our great club

      August 27, 2012 | Unregistered CommenterFrans

      I am a fan from Ireland and cant attend matches like a would like to because of low income but i bought both leeds utd jerseys home and away last season because of my love of the club. I refuse to buy this years jersey because of the parasite bates.I was hoping to attend a game this season but this will only happen when bates goes. Please go now ken, your not wanted and im putting this nicely piss off ! Keep up the good work Gary and lust MOT

      August 27, 2012 | Unregistered CommenterJay

      LUST thnks for the update, well sort of but I am led to believe that the people with Bates at the openning game were his friends and nothing to do with the takeover, in fact the Takeover is much close to home than the far east, while there is far east involvement its not a far east takeover

      August 28, 2012 | Unregistered CommenterGrazzer

      the people at the game where from GFH who are brokering the deal grazzer.

      August 28, 2012 | Unregistered CommenterGary Cooper

      Gary Thanks that blows my info out of the water

      Cheers

      August 28, 2012 | Unregistered CommenterGrazzer

      Bates murdered Matthew Harding

      October 26, 2012 | Unregistered CommenterRichard

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