Leeds Rumours Archive May 16 2014

16 May 2014 08:22:14
Hi all

Got from the horses mouth the other night that he is trying everything possible to keep Leeds out of admin but feels he is losing the battle.
It's not just about Leeds united neither it's his business pride aswell as never put a company into admin.
He said that he as never seen as much people fraudulently taking money and not even trying to cover there tracks.
He as had to get police involved and said it's been going on for years .
This is reason d h as not been paid and case being contested.
Summarising everything I was told guys don't expect mass transfer activity soon .
Bw

The police was about the cameras nothing to do with money the fact cellino bought us without doing due diligence is his own fault the fact he signed a contract saying we couldn't pay our debts owned is his own fault a 13 million loan to ghf is incrueing interest monthly and we can't pay them the debt without ghfc say so it's cilleanos fault he signed that contract the fact he has broken promise upon promise is cellino a fault no one else's together leeds did due diligence which is why they offered a small sum andrew flowers did due diligence with sports capital that's why they altered thee bid if we go in admin ghf are our biggest debtors

Excellent first reply - Are fans now starting to waken up and smell the coffee? Celinio has NO MONEY! He has run up debt to buy the club and is panicking. For all those who believe Celinio has a good business or football brain its time to calm down. He is stripping cost out of the club to finance debt he should have known was there (why did he not do due diligence?) and finance he took on to facilitate the purchase (do you really think he paid cash!). Why did he believe the Club was worth so much more than other potential buyers who HAD done due diligence? Now he is on a collision course with the FA because he has closed the academy without appreciating the commitments the club has made on that front, which could end up in fines or other penalties. Meanwhile other club's scouts are all over Leeds academy matches. He hasn't bought ER and shows no signs that he now intends to and his only communications are that everything's a mess and attacking the current staff. Incidentally - he paying a fortune to the same law firm that C@~ked up his purchase of Leeds United to run the club because he has sent most staff on gardening leave. The clubs accounts are frozen and he admits he is fighting to stop the club going into administration - he only bought the Club on 5th April - he has got us to this situation? He shows no sign of being a saviour - more of a nightmare.

Lol is your name David Haigh? Not wanting to spend spend spend when a business is loosing millions doesn't make him skint. cost cutting to make the business profitable is not only prudent but makes much better financial sense then throwing money at it. He has stated that the buyback of ER and TA will go ahead this year but first he needs to stop the club loosing money.

He has been in the job less than a month and already we have people like you jumping to conclusions. Give the man a chance and please stop posting scare mongering posts David!

No way we will go into admin, can't believe we are still talking so neg, MC is just sorting the business out like any sane owner would (not GFH of course who just ripped us off for a tidy profit).
Once we have the retained list then things will start moving I'm sure but doesn't have to be overnight. I for one are glad his is trying to sort the background stuff out first as we need a solid credible platform before we can build a decent team.
As they say Rome wasn't built in a day. We all need patience and not be so neg on stuff coming out of ER as we needed to change the business model for years now

Well said the last 2 posters Milky Bar and reality Check are the reason why we are in the position we have been in really for the last 15 years. You firmly believe that since April our new owner has added to the debt he has no money etc etc. Totally blinkered to the fact we need someone to be honest about what has been happening at our club. The dreamers and people with no money are Flowers Haigh pearson and the like. As soon as they couldn't get their hands on the club writs were served. Lifelong committed Leeds fans my arse. let's at least Give Massimo chance to show how we need to be run to be viable and see if we can rebuild as that is exactly what needs to happen - MOT

Jesus, this obviousness a wind up, do you realy think he wld let us go into adnin, then he has lost every penny he ha spent , we all know we have been getting ripped off for years = master bates, (we pay rent on the ground owned to a teak comany in a tax haven same as mine, but i'm going to spend all of our season ticket money and transfer money doing the place up for free and still pay him 2m a year rent, but I don't know who it is, ) and getting told frigg all, MC has one hell of a mess to sort out, but its not his doing IMO, he gets my backing and have renewed already with x 2 extras

Think you will find a lot of what RealityCheck says is infact in the public domain and very true.

A wind up and 2 posters slagging MC after 5 weeks in the job.
We can do WITHOUT doom and gloom merchants, cheer up or support someone else ffs

Cellino has impressed me so far with his willingness to tell the truth, as well as his energy, ehthusiasm and engagement with the job. He is a real football man -with a business head. Talking and acting with a lot more sense than any other owner we've had since Leslie Silver's time. Chapel A

"Next week I will go to the bank and buy back Elland Road and Thorp Arch." 8/4/14

Thorpe Arch is abandoned (no grass cutting, no repair of playing surfaces, weeds coming though and going to seed, international players with nowhere to train)

Eland Road is unlikely to be bought any time soon (ever?)

I can't take much more truth

16 May 2014 18:03:17
Was the horse that spoke to you called shergar by any chance

The police were called in because the funds to purchase the illegally placed cameras were allegedly misappropriated from club accounts.
This info is in the public domain.
Cellino is cash rich and took over a loss-making business. Even without adequate due diligence (which would have been a major condition if the money had been borrowed), if the books had been cooked, that's a potential fraud case which will take around 2 years to sort out.
In the interim, costs have to be cut and Thorpe Arch isn't being used to the same degree over the summer so could be seen as a luxury item. He really could just sink a lot of cash into clearing the debt of the club but, think about it, if you bought a house which was built on shaky foundations which were known about prior to the sale but, you weren't informed about, you wouldn't just sink a pile of cash into rebuilding the house. You'd make damn sure someone paid for lying to you.
On top of that, servicing the debt becomes an increasing upward spiral if you continue at a loss.
Give the guy a chance. Lawyers will be pouring over this mess for a couple of years.

The mans worth over £700million, if he has no money then you must be minted!

Stop fear mongering and just enjoy the summer we have ahead. He hasn't bought ER or TA yet because he was lied to by GFH and he's now cleaning up the mess.

He hasn't bought ER yet because the rental contract runs till November apparently so there is no point in buying it early.
We need to cost cut in inessential areas as the financial fair play balance will be affected by these costs. It's better to invest in playing staff and the academy rather than being over staffed in admin using outdated methods.
I think Cellino has a point of principal with several people who did not have the clubs interest at heart, and is sorting that now

Do you think the FL would have let the deal for leeds go through if the purchase price were added to the debt? Surely this would affect the ffp in some way.
Look at the controversy loading the purchase price to the debt has caused with the glaziers and our quiet neighbours over the Pennines