potter3 Posted 4 May 2007 Posted 4 May 2007 How come Rotherham got the points deducted form the nest season but Leeds didn't? I thought it was after the 1st or 31st March
Simi Posted 4 May 2007 Posted 4 May 2007 They can't say whether it's this season or next. I'm thinking it will probably happen next season. I really hope it does. You just get the feeling Leeds will squirm out of this.
ThurmastonFox Posted 4 May 2007 Posted 4 May 2007 If they go into Administration before the final game of the season then they will be deducted the points from this season, hence the sudden action this afternoon. If they had waited until Tuesday, then they would have been deducted points from next season. The crafty gets will avoid any punishment next season as technically it will be a new company.
Phlashman Posted 4 May 2007 Posted 4 May 2007 We can't really complain at them not getting the 10 point penalty can we? I know it's Dirty L**ds, but we got away with it.
Fox in a Box Posted 4 May 2007 Posted 4 May 2007 http://news.bbc.co.uk/sport1/hi/football/t...ted/6625751.stm Relegated Leeds in administration Leeds manager-cum-idiot -Dennis Wise consoles striker Richard Cresswell after last week's draw with Ipswich Dennis Wise (twat) 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 Leeds' administrators 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."
davieG Posted 4 May 2007 Posted 4 May 2007 Who'd a thought it Wisey going into admin with us and now leeds! http://news.bbc.co.uk/1/hi/business/6624731.stm or http://news.bbc.co.uk/sport check the ticker tape! Former Premiership football club Leeds United has called in administrators. It will mean United are docked 10 league points, but it is not clear if that would happen this season or next. The news comes just hours after the Leeds United Supporters Trust told the club it was in a position to make a serious proposal to buy the club. Leeds has been struggling with its finances in recent years and relegation from the Championship will certainly eat into earnings for the coming year. In recent years the club has sold its Elland Road home ground and its Thorp Arch training ground to cover previous cash shortfalls. The fact that contracts for a number of high-price players run out this summer also means that the club will run short of valuable assets later this year. Uncertainty By entering administration the club can be held together while plans are put in place to restructure or sell it. Experts predict that by making such a move, the club would be able to get rid of some of its debts. Leeds would then be a more attractive investment and takeover target because any new owner would not have to take on its entire debt burden. Under League rules, introduced in 2003, teams are deducted 10 points if they enter administration. Wrexham was the last club to befall such a fate in the 2004/5 season. By taking the decision to go into administration during the current season, Leeds could have 10 points deducted now while the team is still in the Championship, rather than when it started next season in League One. Should the penalty be held over, it would mean that the club started next season with a points tally of minus 10, a deduction that could seriously damage its prospects and could leave it in trouble for the rest of the 2007/8 season. Leeds' chairman Ken Bates has been working hard to attract new investment to the club, but has so far had little success. As well as the supporter's club, Leeds defender Gary Kelly has also been linked to a possible Irish takeover bid for the club. He didn't go into Admin with us him and his shit faced Agent were the cause of it!
Fox in a Box Posted 4 May 2007 Posted 4 May 2007 He didn't go into Admin with us him and his shit faced Agent were the cause of it! "It was necessary for the club to enter administration as its balance sheet dated 31st March 2007 indicated debts totalling approximately £35million, with a cash injection of approximately £10million required to continue trading. "Further, Her Majesty's Revenue & Customs recently issued a winding up petition for approximately £5million. If this debt had not been paid by 25th June 2007, the club may have been forced into liquidation."
London_Fox Posted 4 May 2007 Posted 4 May 2007 This whole thing is a disgrace on so many levels. Leeds have technically CHOSEN relegation because in theory they could still save themselves. They have CHOSEN to rush into early administration to avoid a penalty next year and screw the system. I really hope that a big enough fuss is kicked up over this because they are getting away with no punishment basically while any other club in the same situation now gets punished (we went into admin before the rules were created). I really hope that they get deducted points at the start of next season for the pitch invasion.
potter3 Posted 4 May 2007 Posted 4 May 2007 We can't really complain at them not getting the 10 point penalty can we? I know it's Dirty L**ds, but we got away with it. Wouldn't have affected us as we were over 10 points clear at the end anyway
BigGibbo Posted 4 May 2007 Posted 4 May 2007 We can't really complain at them not getting the 10 point penalty can we? I know it's Dirty L**ds, but we got away with it. we only got away with it because the rule didn't exist then
Babylon Posted 4 May 2007 Posted 4 May 2007 Why are so many calling it a disgrace? They are playing to the league rules just as we did!!!! People in glass houses.
Matt Posted 4 May 2007 Posted 4 May 2007 Relegated to League One. No Points Deduction for next season. Administrators Immediately agree to sell to a consortium led be Ken Bates. All confirmed by Sky Sports News. Bastards, Why the fook couldn't they wait till Tuesday?! Oh there comparing it to Leicester City..."There wern't given any points deduction"
davieG Posted 4 May 2007 Posted 4 May 2007 Why are so many calling it a disgrace? They are playing to the league rules just as we did!!!!People in glass houses. We didn't go into admin by choice we were forced to by shit faced Eric Hall, having said that i think the 10 point deduction is stupid.
Master Fox Posted 4 May 2007 Posted 4 May 2007 Relegated to League One.No Points Deduction for next season. Administrators Immediately agree to sell to a consortium led be Ken Bates. All confirmed by Sky Sports News. Bastards, Why the fook couldn't they wait till Tuesday?! Oh there comparing it to Leicester City..."There wern't given any points deduction" Oh well. Just think if Milan hadn't come in when he did, this might have been happening to us today. Still laugh at Leeds, i stil hate them. Going down, let them waste away. They're shit, we rule. The End.
Webbo Posted 4 May 2007 Posted 4 May 2007 the fact that ken bates can put the club into administration and then buy the club for presumably less than the debts stinks.
Matt Posted 4 May 2007 Posted 4 May 2007 the fact that ken bates can put the club into administration and then buy the club for presumably less than the debts stinks. Exactly. Surly this is more immoral than what we "did". But somehow Kamara has his reason to stick up for Leeds and slagged us off
syston_fox Posted 4 May 2007 Posted 4 May 2007 I really hope that Leeds stuff Derby and Hull lose by a large margin now. Can you imagine the uproar from leeds fans if they turned the goal difference around after all?
MC Prussian Posted 4 May 2007 Posted 4 May 2007 Get them champagne bottles out. It's official now. WOOHOO! :mrgreen:
Daggers Posted 4 May 2007 Author Posted 4 May 2007 Relegated Leeds in administrationLeeds 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 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." Former Chelsea chairman Bates hailed a new era for the club - but also criticised the old regime for incurring huge debts. "The action taken brings to an end the financial legacy left by others that we have spent millions of pounds trying to settle," said Bates. "But the important thing now is not to view this as the end, but the beginning of a new era. "The financial burden of the past finally pushed the club into administration following the issuing of a winding up petition by HM Revenue & Customs, who will be one of the company's major creditors. "The other parties who will suffer the biggest financial loss are institutions from which the board arranged funding: Astor Investment Holdings, Krato Trust and Forward Sports Fund who collectively will lose in excess of £22m." The Football League has confirmed Leeds' 10-point deduction and expressed its disappointment. "Following confirmation that Leeds United have obtained an administration order, the Football League can confirm that the club has been deducted 10 points from its 2006/07 tally," said head of communications John Nagle. "Given the recent reduction in the numbers of clubs resorting to formal insolvency proceedings, it is disappointing that Leeds United have had to seek the protection of an administration order. "Discussions have already begun aimed at establishing how Leeds United intend exiting administration. "This will have to include complying with the League's insolvency policy under which all 'football debts' must be settled in full." KPMG revealed Leeds had debts "totalling approximately £35m, with a cash injection of approximately £10m required to continue trading".
Daggers Posted 4 May 2007 Author Posted 4 May 2007 I have to say - I think the actions of Bates (who bought the club knowing its level of debt) are deeply reprehensible. Would he have done this if they'd stayed up? Would he ****.
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