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| |  Posted 04/05/2007 16:36:57 | |
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|  Relegated Leeds in administration |  Dennis Wise (left) and Leeds must look forward to life in League One |
Leeds United have been relegated to League One after being deducted 10 points for going into administration. The 10-point deduction - in accordance with Football League rules - means Leeds will finish the season at the bottom of the Championship. However, they will not lose any points for the start of their first season in League One in August. Administrator KPMG has already agreed to sell the club to a newly-formed company led by chairman Ken Bates.  | A cash injection of approximately £10m is required to continue trading |
A KPMG statement said: "Shortly after their appointment the joint administrators agreed to sell the business and its assets to a newly formed company. "This company is called Leeds United Football Club Limited, the directors of which are Ken Bates, Shaun Harvey and Mark Taylor. "The sale of the club is subject to approval by its creditors, via a Company Voluntary Arrangement (CVA). "The creditors' meeting, to consider the CVA, will be held before the end of May. The Football League will also need to approve the sale." KPMG also revealed the club had debts "totalling approximately £35m, with a cash injection of approximately £10m required to continue trading". The statement added: "The administrators understand from discussions with the Football League that the administration will result in the immediate deduction of 10 points. "This means that next season the club will start the campaign in League One with no points deducted." |
you know, you know, if a feller named Monroe never fathered bluegrass
he would still be unrecognised as the grand wizard of speed metal 
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| | | Posted 04/05/2007 16:46:23 | |
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| It seemed they would pull a stroke like this. It would have been funnier if it happened next season and they were relegated again.
It would be great to see them in the South Yorkshire Sunday League Division 2 Section 2B.
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| | | Posted 04/05/2007 17:02:20 | |
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| slart (04/05/2007)
It seemed they would pull a stroke like this. It would have been funnier if it happened next season and they were relegated again.
It would be great to see them in the South Yorkshire Sunday League Division 2 Section 2B.I could see them doing well if they get there. Dennis Wise will have arrived at his level and they'll storm that league. What I hate is the Leeds fans going on about "the Champions League semi final". a - it happened once. After spending a truckload of money, the size of Harrry Redknapp's jowels b - they didn't win it, did they? What's the point in celebrating that then? c - they're fucking shite now. d - it was SIX years ago. Six. Successive relegations since then. I can't stand Leeds.
It's practically Christmas today! |
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| | | Posted 04/05/2007 17:04:36 | |
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| Sky Sports say they were only a short time away from being forced into liquidation. Bastard!!
Si thi tha nos |
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| | | Posted 04/05/2007 20:22:43 | |
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| Doesn't mean they are completely out of the shit just yet, ESM.
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Stop being dandy, showing me you're handsome! |
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| | | Posted 04/05/2007 21:11:59 | |
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| reminds me of us a bit.
although if you asked a leeds fan if he'd take where we are in 5 years he'd snap you hand off, yet you lot moan and moan about our position...
The PB for Mod pledges: Cloudyshin O'Watra, ESM, MSTB, Squidge, Buff, Noddy the Bolton Blue, Spiderpig, Emigre, The Ghost of Gibbi, Bill, Danny's Stud's, Shimmer. |
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| | | Posted 04/05/2007 21:14:41 | |
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| Off (04/05/2007)
reminds me of us a bit.
although if you asked a leeds fan if he'd take where we are in 5 years he'd snap you hand off, yet you lot moan and moan about our position...True enough Paddy. But though they were dark days, we did have some fun on the way back.
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up, charm, top, down, strange, bottom |
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| | | Posted 04/05/2007 23:31:05 | |
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| Off (04/05/2007)
reminds me of us a bit.
although if you asked a leeds fan if he'd take where we are in 5 years he'd snap you hand off, yet you lot moan and moan about our position...
Not quite, it's a lot worse for Leeds. It'll be a lot, lot harder for them to recover from this IMO.
you know, you know, if a feller named Monroe never fathered bluegrass
he would still be unrecognised as the grand wizard of speed metal
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