Master Bates from the Yorkshire Post

<div class="headline" id="ds-headline"><h1>Potential investors urged to show Bates their money</h1></div>

<div class="viewarticlepanel"><div class="multiimageon" id="MainMultiImage"><div id="MainImageDiv"></div><div id="ImageCaption">By Richard Sutcliffe </div></div></div><div class="ds-firstpara" id="ds-firstpara">KEN BATES has a firm message for anyone wanting to invest in Leeds United: Get in touch and show us your money.</div><div class="va-bodytext" id="va-bodytext">The Elland Road club's relegation to League One was, barring a bizarre set of results on the final day of the season, all but confirmed last weekend by their failure to beat Ipswich Town.

United's demotion, coming just three years after the slide out of the Premiership, led to wild speculation that the club would go into administration within a week.

The claim by BBC Radio Five Live that an emergency board meeting had been called for 8.30am yesterday was, however, vehemently denied by a United spokesman.

Bates is keen to secure outside investment and has revealed to the Yorkshire Post that two would-be interested parties contacted the club yesterday.

It is not clear, though, whether any possible investment would take the form of a straight-forward cash injection or a full blown takeover whereby the current regime would be bought out.

Bates said: &quot;We have had another couple of enquiries from people interested in investing in Leeds United. My message to anyone interested remains the same as it has always been.

&quot;Tell us who you are, and show us a bank letter to prove you have the money. Nothing will happen until this is done.

&quot;At the moment, there are a lot of people supposedly interested in investing in football or buying a club. We have seen it recently at Manchester City, Wolves and Southampton.

&quot;Everyone is trying to attract investment and there is no doubt any money being introduced to Leeds United would accelerate our return up the League.&quot;

On the unfounded speculation about Leeds being on the verge of going into administration, Bates added: &quot;They were telling us there was a meeting at 9am, and then it was 8.30am.

&quot;It was, basically, the BBC repeating their own gossip. I have been in the game for 40 years so I am used to such things, it really is water off a duck's back to me.&quot;

United's caution over would-be interested parties is understandable with the club having been targeted in the past by individuals unable to back up boasts about taking over at Elland Road.

Sheikh Abdul bin Mubak al-Khalifa, in 2003-04, and Sebastien Sainsbury the following season are the two most high-profile potential investors that failed to materialise.

A number of parties have been mooted this time around with weekend speculation suggesting former Sheffield United chairman Mike McDonald is about to table a bid for Leeds, whose wage bill will dramatically fall this summer when Gary Kelly's &pound;25,000 per week contract comes to an end and the last of the money owed to former players is finally paid.

Bates did speak to the former Blades chief several months ago but told him to come back with proof of funds. The Leeds chairman added: &quot;I haven't seen him since.&quot;

McDonald claims to have been approached by a consortium interested in a takeover at Elland Road, though the Belgium-based multi-millionaire has stressed to the Yorkshire Post he has no desire to play a leading role and that his company, Texas Holdings, still controls a 10 per cent stake in the Blades.

He said: &quot;If someone said 'would you invest in Leeds?', I would be interested if I thought it was a good deal. Leeds is a big club with a big fan base and, although it will be an uphill slog to turn it around, it can happen if it is run the right way.&quot;

A weekend report had suggested McDonald was in discussions with Irish investors Drumaville and had already lined-up Graeme Souness to replace Dennis Wise.

However, the former Blades chairman said: &quot;I don't know where these stories come from. I have not spoken to Graeme Souness since all the problems we had at Sheffield United with Benfica over Brian Deane.&quot;

McDonald, who quit Bramall Lane eight years ago, confirmed he had spoken to Bates in the last three months but only to indicate his willingness to support other businessmen in a possible takeover.

&quot;I told him if there was a consortium someone wanted me to join, I would be willing to consider it,&quot; he added. &quot;But I didn't want to be on the board or be a chairman.

&quot;I am looking at it purely from an investment point of view. We are known as a property development and invesment company.&quot;

</div><div class="ds-modifieddate">Last Updated: 01 May 2007</div>

 

Who in their right mind

Would want to put 'money' into Leeds United. They don't own the land or stadium, or training ground, and they have large overheads. Mr Bates has also missed another vital factor 'They are to be playing in Division 1 next season' with away followings of most of the teams less than 200.

 

same could eb said about us - well, except the div 1 bit!!!!

 

and as some pundit pointed out this morning..............

even if they do a Lazarus and get 2 successive promotions by the time they limp into the Premiership the goalposts have moved-the clubs who are currently there will have had 2 seasons of Sky's bounty-the relegated teams get between &pound;30 and &pound;50 million to fund their immediate return so the chances of breaking again into the top 4 are minimal to say the least-so putting off any potential investor</p>

Southampton are apparently the target of a buyout-massive potential apparently- successful Championship clubs are seen as a way into the promised land without having to spend as much cash as buying a current Prem side</p>

 

Just to be a tad pedantic

Not like me I know

But the additional money to Premier League clubs from next season onwards is due to a new TV deal with foreign TV Companies rather than from Sky.

 

found it

http://news.bbc.co.uk/2/hi/business/6273617.stm

 

is he actually holding his glasses there or commenting on how small his ***** is nt