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The last real franchise

Postby leedshippriest on Fri Sep 14, 2012 8:38 pm

By Duncan Castles
Published on Friday 14 September 2012

An expert on football takeovers describes Leeds United as "the last real franchise left to buy"... #LUFC

Such a status is one that prospective buyers will seek to take advantage of as supporters understandably desperate for Leeds' return to the top stage of English and European football push for change. It is also one that provides no guarantee of improvement – look at where Victimpool find themselves after two takeovers initially welcomed by the majority of their support.

How many Leeds United supporters know who would actually end up owning their club if the much-publicised GFH Capital-led bid succeeds? How many Leeds supporters know how much new money would actually be invested in the playing squad if the bid succeeds? How many Leeds supporters know how much profit stands to be made by the various parties involved in the takeover process?

There has been much discussion that the only point preventing GFH Capital from completing the takeover is Ken Bates' refusal to sign a 'standard' indemnity agreement. The same takeover specialist says there is no such thing as a standard indemnity agreement. Yes, buyers will often try to include them in deal, but they are seen within the industry as negotiating points, and takeovers regularly go through without them being asked for, or granted. It is why prospective buyers do due diligence. And that was completed on Leeds months ago.


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