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Bates fears for Leeds
England - 31 May, 2007
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In a bid to sway support to his side, Leeds United chair Ken Bates said he believes the club might not survive if creditors vote Friday against his plan to buy back the club.
Bates took the club into administration heading into the final week of the season. He promptly formed a new company to buy back the club, which has struggled with debt. Administrators KPMG agreed to sell the club back to Bates, but the deal has not yet been approved by creditors.
The creditors and the Football League will consider a Company Voluntary Agreement, which would allow Leeds to be forgiven of some of its GBP 35 million debt.
"If they want a football club in Leeds they should make sure they vote the right way," Bates told Yorkshire Radio. "If the CVA fails, I can assure the fans it's unlikely there will be a Leeds United Football Club. Remember Accrington took 45 years to get back
to league status from when they went out of the league."
His remarks about the club surviving are interesting in that a few interested parties have been angling to take over Leeds after the club was thrown into administration.
Leeds businessman Simon Morris has submitted plans for a GBP 10 million takeover while Duncan Revie, son of legendary former Leeds manager Don, has been mulling an offer.
Bates took the club into administration heading into the final week of the season. He promptly formed a new company to buy back the club, which has struggled with debt. Administrators KPMG agreed to sell the club back to Bates, but the deal has not yet been approved by creditors.
The creditors and the Football League will consider a Company Voluntary Agreement, which would allow Leeds to be forgiven of some of its GBP 35 million debt.
"If they want a football club in Leeds they should make sure they vote the right way," Bates told Yorkshire Radio. "If the CVA fails, I can assure the fans it's unlikely there will be a Leeds United Football Club. Remember Accrington took 45 years to get back
to league status from when they went out of the league."
His remarks about the club surviving are interesting in that a few interested parties have been angling to take over Leeds after the club was thrown into administration.
Leeds businessman Simon Morris has submitted plans for a GBP 10 million takeover while Duncan Revie, son of legendary former Leeds manager Don, has been mulling an offer.
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