It may not be a popular point of view round these parts…but, frankly, I think this is appropriate. Sure we’d prefer to see the McCormack money put on the pitch rather than into buying it back when we don’t think it ever should have been hocked (pun intended) in the first place. But there’s a lot of things that have happened over the years that should not have happened in the first place and they’re not all going to just be undone for the asking.
This is a solid, conservative, balanced and sustainable financial approach that has been sorely lacking around Elland Road for a VERY long time. If combined with some other things which have yet to be proven, this is the kind of approach that can get us back where we belong in the long run. Yeah, I’d like it all now. But that’s what got us in trouble in the first place. Michael A. Gardiner LAW OFFICES OF MICHAEL A. GARDINER 110 West “A” Street, Suite 950 San Diego, CA 92101 Phone: 619.238.9800 Fax: 619.814.3727 E-mail: [email protected]<mailto:[email protected]> Confidentiality Notice: This electronic mail transmission, including any attachments, is privileged and confidential and is intended only for review by the party to whom it is addressed. It may contain attorney client or attorney work product privileged and confidential information. If you have received this transmission in error, please notify the sender immediately by return e-mail and promptly delete this e-mail, including any attachments, without reading or saving them in any manner. Unintended transmission shall not constitute waiver of the attorney-client or any other privilege. On Aug 4, 2014, at 4:00 AM, [email protected]<mailto:[email protected]> wrote: >From the Guardian....(Don't shoot the messenger) Massimo Cellino, the Leeds United owner, has said that an offer to repurchase Elland Road has been made using money raised from the sale of Ross McCormack and other funds. Leeds sold their stadium in 2004 for ?8m during the club?s financial crisis and the Italian entrepreneur vowed in February, before his takeover had been confirmed, to buy it back immediately. The former Cagliari owner has not yet fulfilled that promise and has since claimed that he wants to secure a deal by November. The ground is owned by the businessman Jacob Adler but the club have the option to buy back Elland Road for a set fee by 2029, when their 25-year lease ends. McCormack was signed by Leeds?s fellow Championship club Fulham for ?11m in July, providing a large chunk of the ?16m fee Cellino believes is required to repurchase the stadium. ? ?The money from McCormack cannot be wasted,? Cellino said. ?We sent a letter yesterday. My accountant sent a letter because we want our stadium back. I hope it will be done soon. Before November 100%, because in November the rent will be raised. ?We have to pay. I have to buy the stadium, then I have to fix a lot of other things. It?s our house and our home, we don?t want to be guests in our home. I knew that to buy the stadium back we needed ?16m. ?I want the stadium, we need to concentrate our energy on the club. It?s not agreed, we have the option to buy it and, if we try after November, it will cost more.? The deeds to Elland Road are owned by Teak Commercial Limited, a firm based in the British Virgin Islands, and neither of the past two Leeds owners ? Gulf Finance House or Ken Bates ? repurchased the ground. Leeds are paying ?1.4m in annual rent at the stadium but that sum rises by a small percentage every year. Leeds kick off their Championship campaign against Millwall on Saturday, their first season under new manager David Hockaday, whose appointment was met with disillusionment by the majority of supporters in June. Benito Carbone has recently left his position of development coach at the club because of ?family reasons?. ? Verner tHe LiTtLe YeLlOw DaFfOdIl @}-,-'-- _______________________________________________ Leedslist mailing list Info and options: http://mailman.greennet.org.uk/mailman/listinfo/leedslist To unsubscribe, email [email protected] John 'Grampa' Sykes Rest In Peace old lad 28th Oct 1938 - 12 Nov 2013 MARCHING ON TOGETHER
