When the Sunley Consortium was negotiating to resurrect Charlton in 1984, from memory one of the sticking points was the league rules regarding payment to creditors. Again from memory I think that not all creditors were paid out 100% but I believe the Inland Revenue got their money and other creditors got most of theirs back but it wasn't 100%. If the League are going to let them off then this is going to be a licence for clubs to build up unsustainable debt, go tits up and then reform. The League would be mad to allow it to happen.
[cite]Posted By: bingaddick[/cite]When the Sunley Consortium was negotiating to resurrect Charlton in 1984, from memory one of the sticking points was the league rules regarding payment to creditors. Again from memory I think that not all creditors were paid out 100% but I believe the Inland Revenue got their money and other creditors got most of theirs back but it wasn't 100%. If the League are going to let them off then this is going to be a licence for clubs to build up unsustainable debt, go tits up and then reform. The League would be mad to allow it to happen.
The rules were changed in 1992 so clubs could not do what we and Wolves did.
There is an irony here that it was a winding up order from Leeds over the unpaid fee for Carl Harris that sent the old CAFC under.
gets murkier and murkier, but of course an exception will be granted. There always is to protect big clubs.
Fantastic, simple comment in response to the article :
I'm tired of all this. Soon people will all stop caring. Football is meant to be fun; you can't tell me Leeds supporters (I'm not a Leeds fan) think football is still 'fun'.
As ever, as in the Tevez affair, everyone comes out badly
The man is an utter turd. I know several Leeds fans who haven't attended a single match since he took over. One of them was a season ticket holder since the Revie era. He's just like all the other pricks with money who 'debt restructure' an organisation (i.e. come in and 'buy' it for fook all then tell the IR, local businesses and anyonw else they can get away with to sod off when they come looking for their money). Absolute scumbag.
Its shite like this that make it ever more likely that the taxman will need to punish smaller firms and independent traders more harshly for minor transgressions - if they recouped even a tenth of what arseholes like Bates inveigle obfuscate and deceive them out of per annum we'd eliminate the recession in this country in an instant.
Remember really pissing Ken Bates off, when I asked the club to play Tom Jones' "Green, green grass of home" at our next home game after the Chelsea beach game. His reaction and comments made it in to the nationals.
Never liked Bates, but never really guessed he was that dishonest. Really feel for Levi, well and truly stitched up by Bates and even then Levi seemed more worried about getting to see Leeds play than the £1M bates owed him.
NB To those complaining about how long our possible takeover is taking, you can now see why the process can be long and extremely complicated.
Comments
The rules were changed in 1992 so clubs could not do what we and Wolves did.
There is an irony here that it was a winding up order from Leeds over the unpaid fee for Carl Harris that sent the old CAFC under.
Fantastic, simple comment in response to the article :
I'm tired of all this. Soon people will all stop caring. Football is meant to be fun; you can't tell me Leeds supporters (I'm not a Leeds fan) think football is still 'fun'.
As ever, as in the Tevez affair, everyone comes out badly
ken bates
Long long read but unbelieveable the guile of that man, an absolute cancer of football.
Does make you worry who the hel might be buying us, if indeed we are being bought
Its shite like this that make it ever more likely that the taxman will need to punish smaller firms and independent traders more harshly for minor transgressions - if they recouped even a tenth of what arseholes like Bates inveigle obfuscate and deceive them out of per annum we'd eliminate the recession in this country in an instant.
http://www.guardian.co.uk/football/2003/jan/29/newsstory.sport12
NB To those complaining about how long our possible takeover is taking, you can now see why the process can be long and extremely complicated.