05 Apr 2019 10:26:27
So radz has bought Elland Rd for himself and not part of the club am I right in saying that. Nice bit of real estate. Looks like a good investment for him will the club ever get its home back.
05 Apr 2019 10:52:52
I also read it this way wex and was a little worried. we all know rads made a huge mistake and loss with his sports streaming enterprise (couldnt even get LUTV right) and i hope these personal losses will not affect Leeds.
05 Apr 2019 11:37:14
It’s owned by the same group of companies that own the club. The way in which the deal was set up could just be an efficient way of organizing the deal. You would need somone to have a good look at the deal to really understand why it has been structured in that way. Either way. Radz through his companies owns the bulk of the football club and Elland Road. It’s a business venture. It will be interesting what the rent is after the three year rent free deal. It would be nice to get greater transparency on n these kind of deals but I suspect that it’s not uncommon these days with football clubs and stadium.
Also not sure if the purchase of the stadium by the club would effect the fair play financial rules if the club had to finance it by itself and it led to a loss. This way it’s reducing the running costs of the club for 3 years.
I’m sure over the next few weeks more analysis will be done on it all. George normally has a view in the structuring of these kinds of deals.
05 Apr 2019 11:49:33
Parent company of Leeds Utd owns the ground. Rent being paid after a 33 month rent free period. Now that 49ers own 25% of club, it makes sense for them to contribute to the asset.
05 Apr 2019 12:22:01
Didn’t realize it was 25%, that interesting, thanks Notts.
05 Apr 2019 12:33:55
I suspect there will be some working within FFP guidelines. No challenge of unfair practice if a clear rent is payed to a third party rather than a Chairman having direct ownership of the ground and maintaining it and allowing the club to use it for no cost.
05 Apr 2019 13:30:58
As far as I know spending on the infrastructure of the club has nothing to do with FFP. I know there's some good business reasoning behind it but being thick I don't know what it is 😊 personally, I would rather the club owned it so that when we need some major investment the parent company could buy it for double what it's worth, a la Derby ðŸ˜.
05 Apr 2019 18:46:16
Old news. Announced from get go purchasing vehicle was Greenfield.
05 Apr 2019 20:28:00
Accounting shenanigans. Simple as that. Tax management, finance management, FFP management, nothing sinister.