Nottingham Forest - Bids A Plenty For Leeds
UK time is: 03:32:49
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

Bids A Plenty For Leeds

KPMG, the administrators of Leeds United, have confirmed that they have received several bids for the club. Duncan Revie, the son of the legendary late Leeds manager, Don, says that he has the finance in place for a takeover (much of it thought to come to Dubai) but is unsure that he could commit sufficient time and energy. 'The money's not an issue,' he said. 'We have that, but I wouldn't want to take it on unless we could do it justice.

We are still thinking about it but nothing will happen in time for the creditors' meeting.' His hopes of being involved in the club rest on chairman Ken Bates selling the club to him if his Company Voluntary Arrangement (CVA) is approved by creditors at a meeting on Friday. Former chairman and insolvency expert Gerald Krasner has argued that Ken Bates' offer to creditors is not a done deal, He has appealed to the 1,350 businesses and individuals owed money by the relegated club to present a united front against Bates if they want to stop him buying Leeds for what will amount to 500,000.

Another potential bidder is former director Simon Morris who has tabled a bid of 10 million with a promise of a further 25 million investment to stabilise the club's finances and a commitment to building a multi-purpose arena at Elland Road. He is insistent that his bid will not breach Football League rules on dual ownership. His property firm S R Morris is also behind Standing Alone Ltd., the company taking over Boston United, who entered administration on the last day of the season and were relegated to the Conference. However, Morris will offload Boston rather than see his dream of owning Leeds founder.

Bates has often unsecured creditors a penny in the pound, but the trouble for any rival bid is that the CVA states that Bates will have the 'unqualified support' of the club's major creditors, Astor Investment Holdings Ltd., Forward Sports Fund (FSF) and Krato Trust who are owed close to 18 million. They include agents, seven former players - former Manchester City defender Danny Mills is owed 216,667 - and clubs ranging from Brondby to Bolton. The potential stumbling block for Bates will be if Astor, FSF and Krato Trust are deemed to be connected creditors. That would mean he would need to secure 50 per cent of the vote from unconnected creditors. These include 184 season ticket holders, a travel agent and a mobile DJ.




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



Click here to join in the debate on the club forum.

The Journalist

Writer:  Mail feedback, articles or suggestions

Date:Tuesday May 29 2007

Time: 4:12PM

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Nottingham Forest Articles

Hamer Up For The Fight (Friday July 31 2015)

Forest Complete Pinillos Signing (Thursday July 30 2015)

Majewski & Abdoun Depart (Thursday July 30 2015)

No Maynard Deal (Thursday July 30 2015)

New Deals For Forest Duo (Thursday July 30 2015)

No Pressure To Sell (Tuesday July 28 2015)

Forest 1-1 Swansea - Friendly (Sunday July 26 2015)

Season-Long Hamer Loan (Sunday July 26 2015)

Archived Nottingham Forest Articles

List All Vital Forest Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

Vital Members League (view all)

1. orbitalforest 64
2. Pope John XXIII 59
3. PVH 58
4. Jimmy Gordon 41
5. da fuq 40
6. Calvin Plummer 28
7. LyttleByLyttle 28
8. Bad_Dog 27
9. toms 24
10. Crazy Joe Davola 24

League Table (view table)

Team P W D L GD Pts
8. Cardiff 0 0 0 0 0 0
9. Charlton 0 0 0 0 0 0
10. Derby County 0 0 0 0 0 0
11. Forest 0 0 0 0 0 0
12. Fulham 0 0 0 0 0 0
13. Huddersfield 0 0 0 0 0 0
14. Hull City 0 0 0 0 0 0

Nottingham Forest Fixtures (view all)

Breaking League News

LUFC Vital Leeds Competition - Win A Replica Shirt
Leeds Utd : 02/08/2015 20:39:01
LUFC Development squad draw at Barrow
Leeds Utd : 02/08/2015 20:23:00
A Game of Two Halves
Birmingham : 02/08/2015 20:12:01
LUFC Rosler wants Elland Road to be a fortress
Leeds Utd : 02/08/2015 20:08:01
Poll Results: Who Is The Best Signing?
Birmingham : 02/08/2015 19:24:01

Current Site Poll (view all polls)

Cardiff MotM
Suggested By:  Site Staff
Darlow 0%
Kane 2%
Hobbs 2%
Lascelles 10%
Mancienne 2%
Lansbury 4%
Gardner 12%
Vaughan 4%
Burke 2%
Blackstock 20%
Antonio 4%
Sub - Akpom 4%
Sub - Paterson 6%
Sub - Osborn 28%