Page 28 Column 3 Private Eye dated 29th Sept 2006 (In The City)
WHILE Leeds United chairman Ken Bates has been busy deciding on a new
manager after sacking Kevin Blackwell; less noticed has been some odd
events at one of the companies involved in the former Chelsea boss's
takeover in January last year of the Championship strugglers.
Leeds United Football Club was initially a 50 percent shareholder
following the Bates takeover. Then, with his inimitable sense of humour,
Bates renamed the company Romans Heavies - a not too subtle dig at new
Chelsea owner, Roman Abramovich. Despite Bates receiving some £17m of
Abramovich's money, sufficient to make it worthwhile moving to Monaco,
there is no love lost between the two owners. Romans Heavies then held
almost 50 percent in the company that owned the other 50 percent of the
Leeds football club.
So what is this? On 6 June Romans Heavies was compulsorily wound up by
an unnamed creditor who had filed a petition in April. The company is
now in liquidation. Bates. resigned as a director in March.
The company's main shareholder was last recorded as the mysterious
Forward Sports Food, Which gives an address in London but is assumed to
be based in Switzerland. Forward made a loan of some £4m to the soccer
club last year. Another shareholder was Sports Investments (Leeds) for
which notice has been given of a compulsory striking off by Companies House.
Just what all this means - if anything - for the ownership of the
Championship side remains to be seen. It issued a £4.5m block of new
shares a year ago but it is not clear yet as to who bought those shares
and so controls the club. The suggestion was Forward. Romans Heavies was
said to be left with a 3 percent stake.
Doubtless these events are perfectly normal and Bates will as usual
reveal all in his own time.
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oh alright then :-)
