Sorry everybody but this is totally inaccurate. Abramovich is a shareholder of Chelsea, Astor are not shareholders of Leeds United - Ken and Mark said so.
It is pretty clear where and upon what the funds Abramovich has loaned Chelsea have been spent, it is not apparent to the writer at least upon what Leeds United have spent monies borrowed from Astor. Leeds United AFC is in administration and will soon be liquidated, it's debts whether to mates of Ken Bates or to Ramus Foods have been settled through the sale to FSF. Leeds United 2007 upon its incorporation on May 1st 2007 owed nothing. Anything it now owes will be new debt incurred since that date. It should, therefore, not owe Astor anything from what was written off to Leeds United AFC, because it has been 'written off'! However, should Astor lend Leeds United 2007 money to buy replica shirts for £15 a time and LU2007 then sold them for £5, LU 2007 would soon find itself indebted to Astor with nothing to show for it, for instance. Cheers Paul Mark H wrote: > > Do you think that Abramovich has written off the £600m or so > he is 'owed' by > Chelski? > > I am not sure why, possibly for tax purposes, but investment > into clubs is > couched as a loan a lot these days. > > It could therefore be that Astor 'have' whatever they spent > the £18m on. > But it was couched as a loan for the same reason as > Abramovich's investment. > But when it came to admin they can then use that amount to > control any CVA. > > Maybe that is why Chelski do it too. Last thing Abramovich > would want is > another creditor coming in and winding up the club, forcing > it into admin, > and then being able to veto his buy-back. > _______________________________________________ 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 Join The Leeds United Supporters Trust at www.lufctrust.org
