Just received this email from the "SaveLeeds.com", having sent them a few suggestions! Property developer SR Morris Group, which is bidding to buy Leeds United FC, has today (Saturday) offered creditors 40p-in-the-pound to win their support in the battle to takeover the club. SR Morris has already tabled £10million to buy Leeds out of administration, topped up with a cash injection of £25million to stabilise the club’s finances. The company has a £400million redevelopment plan for Elland Road that will regenerate a key area of the city. Creditors are currently being offered 1p-in-the-pound. SR Morris chairman Simon Morris said: ‘We believe creditors will see and understand the value in our offer. ‘If we are successful in our bid to buy Leeds United, there will be 20p-in-the-pound for the creditors immediately, and a further 20p-in-the-pound for them over a period of time.’ At an administrator’s meeting on Friday a recount was ordered after 75.02 per cent of the creditors voted to accept the 1p-in-the-pound offer.
I hope he's 'stuffed' but don't bank on it. The FA (means does fook all) will stand by and take no action against this man with his shady dealings. Seems the creditors have virtually accepted 1p in the pound Why this when there is an offer far larger than that. Simple fact is Bates is the largest creditor and subject to a re count the deals almost done. A high court injunction might follow this but this will only delay it a bit.
The FA are craven bloody cowards they're supposed to have a 'fit and proper person' test - how can anybody in their right mind deem Master Bates a fit and proper person to run ANYTHING?
More interestingly.... two of the largest creditors swear blind they're nothing to do with Bates in any way, yet have come out and said they'll only accept his offer and no others. So they'd rather get 1p in the pound than 40p? And Bates isn't involved in any way with them? I'm finding that QUITE hard to believe.
