Leeds Rumours Archive June 24 2014

 

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24 Jun 2014 21:34:05
Heard that Cellino wants all Leeds players to take a big wage cut this can not be good if this is true I am wanting him to get better players who is going to want to come to Leeds if wages are going to drop this has come from a family member of one of the Leeds players that I think is on his way out not been with us long

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If that's the case why the hell did he buy the club in the first place

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He bought the club to make it a profitable business and make money from it is my guess? On the players taking a cut, so nobody thinks hunt on 25k a week should warrant a pay cut? Or any of the other chumps who can't string a pass together or most of the time don't look as they can be that bothered to be on the park?

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25 Jun 2014 09:27:11
Been banded around loads since filling got us under his dictatorship but hey a contract is a contract And not even he can do anything except sell em

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Spain
You've been on the site long enough to have noticed at least 20 posts Hunt ain't on 25k mate he was mixed up with another player by MC.
Regarding cutting wages if our players are on double what the sheff windy players are on don't it make sense?
The club has to be run to FFP rules or get fined, are even worse points deducted (who knows)

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When a club is loosing a million a month, is it surprising to see the "Man who foots the bill" cutting costs. The majority of those losses re of course players wages. Shut this, reduce staff here and there, appoint a "Cheap Option" coach, these things are only minor amounts. FFP means club can lose up to 6 million ( which Owner can make up ), but hey, MC didn't buy LUFC to plough in 6 million extra a year oer and above what he needs to.

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25 Jun 2014 11:56:52
cellino said in the press conference due to ffp laws he can only invest a certain amount of money on players so he has to look at other ways to free money,
if that means players who don't do enough to earn their highg wages taking pay cuts then so be it, i'm sure they would rather take a pay cut so better players can come into the club than still be over paid and unsuccessful .
better to be a average paid prem player than a high paid champ player

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25 Jun 2014 11:58:40
The reality is that Cellino can't reduce anyones contract without the individual agreeing to it. The quickest way to destroy moral is to reduce wages, the only hope he has is to offer incentives in return so potentially they could earn more if they or the team perform. I am sure that every team in the English leagues wants to reduce players wages, doesn't mean it will happen!

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I don't think reducing a wage from 25k to 24k would damage my morale :-)

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Any re negotiation of contracts will have to be agreed by the players and their agents. I can't see very many agreeing to this personally. However justified it may be but with what they have been though already last season with half wages and even no wages being paid it could be very destructive. Sadly I think from his rhetoric MC hopes to create what he appears to have had in Cagliari this being part of something greater . I love the sentiment but the harsh reality in the UK is over inflated wages not to mention Ego's and greedy agents alongside protection of employment rights through the PFA and other governing bodies. Some of which I expect will be new to MC. I hope this is a new ERA of success and not just austerity. #MOT

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Andy ok not 25k but however much he is on its too much and a pay cut is deserved.

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Doubt all players are being asked to take a pay cut. Warnock's signings will be on ridiculous sums, what with him having shared an agent with them.

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Spain
Totally agree and I don't think ANY player last season including Ross deserved 25k a week. A few might not like the last comment but i'm basing MY opinion on some weeks even RM didn't look interested and if I was paying anyone that amount I'd want 100% effort/commitment every week ;)

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25 Jun 2014 14:54:10
If I was offered a grand a week less than hunt my morale would be totally shattered!

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How much is the Club paying MC's 2 kids to be directors? How much is the Club paying in interest to finance the loans he took on to buy it. You can escape ffp rules by buying out debt or investing in facilities you know - you don't need to keep paying them out of the clubs books!

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Realitycheck you keep saying this but I can find no evidence of it so I need to clarify. You think MC borrowed money to buy LUFC?

i think part of the purchase price of LUFC was included the loans that GHF made. This is not the same as him having to borrow money himself to buy the club. In fact he does state the money used to buy the club his is and his families. Where is the breakdown of the sale? Can you show me this or is this just you with the doom and gloom?

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The funny thing is you all believe the OP, has anyone else heard that he wants ALL players to take a wage cut, its made up nonsense

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I believe that M C wants at least 5-6 players to go, Steward being one currently being connected with Charlton and Ipswich.
What ever Hunt is on is to much in my books .
No he can not reduce someone's wages but do they want to play football? Or not .

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Realitycheck mc didn't take out loans to buy lufc where did u get that from pal
MOT

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Ok Guys - This is out there - the sofa in May gave a good breakdown of it. Some may argue that there are staged payments; however they are liabilities attracting interest - effectively loans.

MC has paid £6M for Leeds, through his family company Eleonora Sports Limited. Leeds United Holdings therefore owe ESL at least £6M plus whatever other money he will have put in to cover costs. It will not be clear until the accounts are published, but rest assured that there will probably be about 10% interest applied to that loan.

The Club is valued by GFH at £45M - therefore MC's purchase of 75% must be in the region of £33M. (Other interested parties wanted to pay in the region of £6M - maybe a better valuation?) There will be some agreed payments, but all outstanding payments will be attracting interest. So of the £33M selling price, £27M is secured against the 75% holding of ESL, and will be accruing interest. There is another £5M due by the end of this year, but payments beyond that are not clear. So effectively Leeds United holding's biggest creditor is GFH and as a bank they will be expecting interest on that loan (probably around 10%). Even when the payments to GFH are made, these will be in the form of a loan from ESL to LUH and the Club will pay interest on these.

I suspect that MC's original hold up in passing the fit a proper test was not about his court case - it was about clarity on where funds were coming from and being secured it the future - remember - it was about 'documents not being provided' - nothing about pending court cases.

MC has said that he is using family money. But he also said he was buying and investing when he got hold of the Club - I am still waiting.

Spin it whatever way you want - Leeds United now have an overhead liability to pay interest on MC's purchase of the Club of about £33M - say £3M pa, and he has saddled us with that liability. That really affects the Club when it comes to ffp. Of course ESL may be giving us the loans interest free -only annual accounts will tell us that.

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Reality check, MC has invested his own money/family funds to save LUFC from garaunteed termination. He has had to come up with good amounts of money to pay certain creditors to stop LUFC from going into administration then insolvency. When it has come to it he has Clicked his fingers and puff! Debts were paid. Just because he hasn't gone crazey and told every would be seller that he willing to pay any price ect does not justify the abuse and total bull that some people seem to slander him with. This guy is a business man and he has come here with the intention of putting Leeds back up there and if he needs to do some in house cleaning and getting rid of staff/grounds ect that makes no sense in keeping . Then it makes total business sense. God sake lufc has had 12 years of utter carp being done that has only damaged Leeds due to Debts and spending money we didn't have and that has been the problem. So if a guy comes in and does a total different approach and really turns Leeds into a good healthy business . Then he has my full backing. We should of learnt our lessons that spending money we don't have can only bring us trouble

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Realitycheck I have also read this from the sofa but you are actually quoting from conjecture. As in your copy and paste it uses 'rest assured there will probably be about 10% interest' that is just making it up as you go along with no actual proof.

As is the next paragraph absolutely no basis for truth.

This is just the 'sofa' dicks coming looking at 2+2 and getting 10. It is all conjecture but now I see where you get your crap info from. Until you can show me an actual breakdown of the deal you are just making it up.

As truthchatter says a bill needs paying and puff it is paid. please stop saying the guy has no money. You have no idea what he has and doesn't have.

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Forbes estimates Cellino's net worth to be around £750 million. That would be a figure gleaned from analysis of his businesses and property by people actually qualified to perform that analysis.
Realitycheck estimates Cellino's net worth to be about £7.50. That would be a figure gleaned from reading the odd ranting webpage written by some bloke who heard something down the pub from his mate who might work in a warehouse but 'knows what he's talking about'.
Realitycheck, I work in the City of London at something called an investment bank and doing a quick check on Cellino's businesses show that the guy runs them well with good levels of operating capital and low running costs. That's the view of city analyst firms. If you disagree and have good reason to do so, all is fine and you should probably give up your full time job collecting trolleys at Asda and show us professionals where we're going wrong. We do so love armchair speculation by such eminent figures as yourself.

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Nice to hear the name halifax white! From sowerby bridge myself. This player your taking about wouldn't be paddy kenny would it pal?

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24 Jun 2014 16:16:42
Not any big transfer news or anything like that but just seen Eduardo Cellino in peacock with two others ( not Massimo ) good to see him around though and using local facilities rather than going in Billy's bar!

Believable26 Unbelievable13

24 Jun 2014 12:00:14
in Italian press LUFC are looking at

Federico Viviani and Armando Izzo

Both 22

Believable39 Unbelievable23

I must have misheard iam sure hockaday said players were lined up and ready to come to leeds when

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Accounts were still frozen until last night so we couldn't have finalised any of them

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