How do you keep all this shit in your head? I have problems with a shopping list.
________________________________ From: Paul Cundell <[email protected]> To: 'Ian Murray' <[email protected]> Cc: [email protected] Sent: Tuesday, October 11, 2011 6:26 PM Subject: Re: [LU] Who owns Leeds United? Ian Murray wrote: > > What about Krato and Astor insisting that they sold Bates even when his deal > wasn't the best on the table? Sounds more like fraud (transaction at an under > value?) than a 'good deal' to me. > I think you misunderstand me, and are confusing quite separate events in our mini-saga : - 1) Purchasing two properties for £13m and getting paid £2m a year from the sitting tenants is a 'good deal'. A 15% ROI in these economic times is a bloody good deal indeed. Adulant Force signed the sale and lease back deal with Jacob Adler - one assumes they thought they got the best deal they could at the time. Recent reports suggest that The MS has merely bought the property from Jacob Adler. 2) The sale of the club to Forward Sports Fund, represented by The MS, was made by KPMG on behalf of the creditors. It was KPMG's duty to get the best deal for the creditors. The future success and /or long term prospects of the club, or even the interests of the fans, was not part of KPMG's duty. The offer by FSF became the best for the creditors when Astor and Krato agreed to write off their debt as long as FSF bought the club. There is nothing fraudulent in them doing that, odd it maybe but it's their money. 3) The last time someone had a choice about who the club was sold to was when Adulant Force decided to sell to Forward Sports Fund and not to Stubbs, Sainsbury or Levin consortia. Their decision was no doubt swayed by the way directors loans to the club were to be handled and was not made solely in the best interests of the club. However I think that they were convinced that the sale of the club was essential to it's survival. 4) The MS bought LUFC from FSF for probably £1. He apparently now owns LUFC, ER and TA. That he collects rent from LUFC for using ER and TA is honestly up to him. Whether he chooses to spend money on players or ER or the hotel or a new mangle is again up to him. How we spend our money is, however, up to us! 5) I would think that someone in your profession would know to be extremely careful when accusing people like KPMG of fraudulent acts. Paul _______________________________________________ Leedslist mailing list Info and options: http://mailman.greennet.org.uk/mailman/listinfo/leedslist To unsubscribe, email [email protected] MARCHING ON TOGETHER (There's it) _______________________________________________ Leedslist mailing list Info and options: http://mailman.greennet.org.uk/mailman/listinfo/leedslist To unsubscribe, email [email protected] MARCHING ON TOGETHER (There's it)
