First off the bat - I know nowt at all about finance and how books can be "cooked" or adjusted etc so it may be very simplistic of me to think the following....
If cuddly Ken owns the club (not sure of the exact percentage) then if any profits come in then surely he is entitled to pay himself whatever he decides to from those profits? If I own a company then I own it to make a profit and make money from it - surely Ken has a right to do this too? OK, we would all like every penny that comes in to go to buying newer supa dupa players or better facilities or lower prices etc (or even paying off outstanding debts) - but that's what WE would like, we don't however OWN the club - he does - I'm not saying I like it, but that would seem to be not improper to me Or am I missing something here? Steve -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Tim Leslie Sent: 24 January 2007 10:51 To: LEEDS LIST Subject: Re: [LU] Leeds United on 5 live Betty, I'm guessing (Correct me if I'm wrong Pete) that what Pete is saying is, as briefly as I can put it: 1). How do you know what Bates is doing is 'untoward' and not what quite possibly every chairman in football is potentially doing (i.e. cooking the books). The manipulation of figures is what it all boils down to, how you present one debt, balance it with another etc. If a posh accountant said "Ah yes, what he's doing here is farming this money off here and putting it down to x, y or z" Is your point that the money being hidden/farmed off/lost however you want to put it, is only for Bates' good? If so, how do you know that? You don't, or if you do then get yourself a very good posh lawyer as well!!!! 2). Are we all being a bit niave (And lets face it, despite our best intentions in some cases, to my knowledge NONE of us are fabulously wealthy businessmen ho have earned millions by being at the front of a cut throat environment. If you have please step forward and explain all!!!) in believeing that an alledged (Again do we REALLY know) debt of £120,000,000 will simply disappear in 3 years thanks to some good bookeeping, a fire sale and a few write offs WHILST STILL MANAGING TO RUN A PROFESSIONAL FOOTBALL CLUB (That we as fans expect to be succesful)? In general, football clubs do not make money, if they do it's a small profit (OK OK excepyions to the rule noted). The theory that the club will be better off in the hands of the fans is ideologically brilliant, I'm not so sure it works for the 'bigger' clubs. _______________________________________________ the Leeds List is an unmoderated mailing list and the list administrators accept no liability for the personal views and opinions of contributors. Leedslist mailing list [email protected] http://list.zetnet.co.uk/mailman/listinfo/leedslist 'I am in shock,' said Ferguson.
