For all that Bates is, he does make me smile, what a great read that letter is.
No doubt the anti crowd will make pour scorn on the contents, but whilst I fully accept that this is one side to the various stories, until/unless we get an official reposte by the other individuals involved (as opposed to people speaking and speculating on their behalf) I tend to believe the old goat. Of course he is one sided, but being a litigious chap he wouldnt say these things publicly if he thought he would lose a libel case would he? <dons flame retardant y-fronts and retreats to the bunker> > -----Original Message----- > From: [EMAIL PROTECTED] [mailto:leedslist- > [EMAIL PROTECTED] On Behalf Of David Holden > Sent: 17 August 2007 16:04 > To: [email protected] > Subject: [LU] LU Bates Letter > > OPEN LETTER > Leeds United Opportunities > > United chairman Ken bates(FUKK chelsea) this week wrote to all Season > Ticket > holders, Members, lapsed Season Ticket holders from 2006/07, lapsed > Members, > and current and lapsed corporate clients. > > For those of you that haven't received a letter, here is a copy.... > > Dear Leeds Club Member August 2007 > > I have delayed my usual pre season letter until the outcome of recent > events > was resolved. > > I can understand if you feel frustrated by the lack of information > coming > out of the Club but negotiations on many fronts have been both delicate > and > confidential. Unfortunately information given to fans is picked up by > the > media and we are then at the mercy of individual media reporters and > editors > who sometimes interpret (or in some cases misinterpret) a story > according to > their views or prejudices. > > Only now do I feel comfortable in informing you of the position and it > will > be a long letter because you should know of the many aspects of the > recent > past including many parties, plots, intrigue and much more. > > THE ADMINISTRATION (CVA) > > KPMG were advised throughout by Walker Morris the Leeds based > Insolvency > Lawyers as well as two Senior Barristers. In view of several press > articles > and comments by the Football League it is essential to state that all > parties behaved properly at all times. The common desire was to save > Leeds > United and stop the taxman's attempt to close it. > > In view of the behaviour of certain parties with hidden agendas, KPMG > decided to invite fresh offers but at the end of the day the offer from > the > Forward Sports Fun ('FSF') was still the highest and best. > > After the original creditors meeting there is a period of 28 days for > anybody to object. The taxman objected at 3pm on the last day just > before > the court closed. > > At the insistence of the League, KPMG tried very hard to meet the > Taxman's > objections and the negotiations were conducted at the highest level. > The > first demand/condition was that all monies from FSF to KPMG should be > paid > upfront. That was agreed. The second demand was that the Football > Creditors > should not get preference and be paid any more than anybody else. This > was > an impossible demand. If Leeds didn't pay the Football Creditors in > full > then the Club didn't get membership of the League. We were between the > devil > and the deep blue sea. Damned if we do, damned if we don't. The Taxman > then > proposed that a sum equal to that going to the Football Creditors be > paid > into the general pool for all Creditors putting them in a better > position. > FSF agreed. The Taxman then refused to withdraw their appeal and > further > stated officially that they would vote against any other proposal if > Football Creditors were ever paid in full. Indeed they stated that they > would oppose any further CVA when Football Clubs were involved. Clearly > this > is an impossible situation. > > What really irks the Taxman is that until 2003 they got preferential > treatment in any insolvency. Now they don't. That is not Leeds fault or > that > of the League. > > Finally, we believe that the actions of the Taxman were illegal. In the > case > of Wimbledon the very question of the Football Creditors was challenged > in > the High Court and the Taxman lost on Appeal. > > Secondly, Newcastle United won in the High Court against the Taxman > because > of their refusal to allow VAT on Agents' fees as a deduction. Despite > losing, the Taxman still submitted a huge claim for VAT on Agents' fees > which was illegal. The Taxman is questioning the validity of some > creditors' > claims. They do not have clean hands in this matter. This dispute is > not > about Leeds United, it is about opposing the Football League's Rule > that > Football Creditors must be paid in full. > > ALTERNATIVE BUYERS > > At the time of buying the Club from the Administrators, FSF promised to > talk > to any other would be purchasers with a view to any possible > cooperation. We > did the best we could. This is a summary of what did or did not happen. > > 1. DUNCAN REVIE - Did not and has not made any offer at all. Neither > has he > contacted me or any other Director. > > 2. SO CALLED AMERICAN INVESTMENT FUND - One phone call and they have > not > been in contact since. Absolutely no discussion. > > 3. REDBUS - Mark Taylor, a lawyer, had one meeting and one phone call. > No > proposal. > > 4. SIMON MORRIS - He made contact through a middle man. We informed him > to > call us direct. We weren't prepared to negotiate through a third party. > We > haven't heard from him. In the newspaper it was reported that in buying > Leeds it would be part of a £500/600 million pound development in the > surrounding area. Unfortunately (for him) he doesn't own the land and > Leeds > citeh Council have put it out to possible public tender. > > He also employed two PR companies to run a dirty tricks campaign > against me > which backfired. We obtained a background memo, a copy of which is > enclosed. > PROJECT PEACOCK is the code name for Leeds and PROJECT PILGRIM is the > code > name for Boston United. Gerald Krasner was the squirrel for Boston > United > and Morris hoped to get the Boston Club ground for redevelopment but he > was > unsuccessful. > > Despite all the media speculation we knew of no other interested party. > > Project Peacock 1 Project Peacock 2 Project Peacock 3 > > MELVYN LEVI > > Levi was a member of the Yorkshire Consortium (YC) who briefly owned > Leeds > United until it was sold to the FSF in January 2005. > > For technical reasons, FSF acquired 50% of the Club at the time and had > an > option to buy the other 50% in June 2005. FSF exercised the option but > Levi > refused to sign over the shares. > > All decisions by YC had to be unanimous, consequently Levi's actions > blocked > the deal. From that day to this Levi has w**ked in the background > attempting > to frustrate every effort to strengthen the Club's finances. We planned > a > rights issue to raise a further £5m for the Club but Levi frightened > off the > participants. Last October we agreed a deal with an Irish consortium > who > would put £10m of new capital into the Club and lend us the dublooons > to buy > back Elland Road and the training ground. Levi found out and rang the > would > be investors and put them off. This is well documented. > > Then Weston (see later) got in on the act with Levi and they demanded > 10% of > the Club, £200,000 in cash and Directors' Box tickets for life in > return for > honouring the option. Levi has denied this but we have witness > statements on > file. > > This is a brief summary of what has occurred but suffice to say Levi > has > been actively trying to frustrate all our efforts to strengthen the > Club's > financial position. He even went to court and obtained an injunction > against > Leeds printing a match programme. The Judge threw out his case after 40 > minutes. > > Robert Weston is the first husband of Levi's wife. Levi arranged with > Weston > (who lives in Jersey) to handle Leeds season ticket credit card > transactions. For two years we have been trying to recover the £190,000 > which Weston owes to Leeds. He has used every possible delaying tactic > to > avoid repaying the dublooons which he has acknowledged he owes. We have > at > last obtained judgment and should get the dublooons this month. Weston > has > been in jail for trying to pervert the course of justice. > > Levi is a disgrace. > > PLAYERS, BUYING AND SELLING > > Player transactions are very complicated and when fans jump to > conclusions > they do not always know the full facts which, for important reasons, > cannot > be revealed at the time. > > Let me take David Healy as an example. Healy's agent voted against the > CVA. > Healy had one year left on his contract which meant he could sign a pre > contract in January and walk out next June on a free transfer. > Everybody > said we should get £3m+ for him but nobody offered it. He was a high > earner > and his agent wanted him away. Fulham's was the only genuine offer and > we > got £1m for him plus add-ons. He cost us £750k from nob end plus 20% of > any > profit. We still owed nob end £200k so of the £1m we actually got £750k > net. > We have already spent £500k on buying Casper and Hughes. > > A year ago Danny Rose refused to go to Chelsea because he "loved > Leeds". > Last month his agent refused a new contract and Rose walked out. After > a lot > of haggling we got £750k plus add-ons of £250k. To buy or sell a player > (a) > he has to want the move ( the other Club must be willing to do a deal > and © > we must afford him, otherwise we are back in a rislade situation. > > One example is of a young promising striker from the South. Free > transfer > and earning £600 a week. Deal done, except that his agent suddenly > demanded > £6,000 a week in wages. No deal. > > I know it is frustrating sometimes for fans but we do not reveal our > plans > publicly, it just alerts the opposition. > > Rest assured, wisey(FUKK CHELSEA) plans to recruit experienced but > mainly > younger players who are hungry for success and want to achieve things, > not > those looking to delay their retirement with no ambition other than to > have > another pay day. > > THE WAY FORWARD > > We now have a Club with no debt, the last legacy of the rislade era is > behind us. > > We still have the consequences of the Krasner, Levi and Morris actions > with > us. They sold Elland Road for £8m. We have to buy it back at £15m > meanwhile > paying £1.1m a year in rent. > > We have tightly controlled budgets and all the staff know that every > penny > counts. > > We are willing to have discussions with any serious investor who has > the > Club's best interests at heart, rather than hoping to make a quick buck > from > the property. > > We are preparing plans to develop Elland Road to enable non footballing > income to come into the Club to strengthen our buying power on a > permanent > basis. > > We will invest in our scouting and youth policies to continue Leeds' > great > history of developing home grown players. > > The 15 point "sanction" is a scandal and a travesty of justice. We are > appealing that decision to the Football Association but meanwhile will > get > on with the job of strengthening the team and getting back firstly to > the > Championship and then the Premiership. > > dennis(FUKK CHELSEA), gus (FUKK CHELSEA) and myself are here for the > long > haul. So the mindless minority who do their silly chants had better get > used > to it. > > On a lighter note may I point out that under the Sex Discrimination Act > demonstrations that invite men getting their shirts off is only legal > if the > Ladies do the same! > > Finally, thank you all for the tremendous support throughout the > difficult > time. Fulham, Man citeh, Derby, Aston Villa and Middlesbrough have all > been > in our current position, look where they are now. > > Marching on Together > > Ken bates(FUKK chelsea) > Chairman > > Peacock Letter1 > http://www.leedsunited.com/staticFiles/22/...73~95266,00.pdf > > peacock Leter2 > http://www.leedsunited.com/staticFiles/36/...73~95286,00.pdf > > Peacock Letter 3 > http://www.leedsunited.com/staticFiles/37/...73~95287,00.pdf > > > > > _______________________________________________ > 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 _______________________________________________ the Leeds List is an unmoderated mailing list and the list administrators accept no liability for the personal views and opinions of contributors. 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