Is it too early to start dreaming....?

Yes would be the answer. Me and my big mouth. The final line of my previous post dared to believe that the mess in accounts would finally be sorted on Friday, and for better or worse, we would have ownership sorted and be able to move on.

Instead, typical for Leeds at the moment, we can't even do this right. Bates did get enough support at the creditors meeting for his bid....by 0.02%! So, we have to have a rec-count. What I want to know, is if he doesn't get enough support, and neither does anyone else, then WTF happens?

Anyone here an expert in insolvency proceedings?

Creditors meeting.

Today is D-Day folks. The BBC has announced that five different groups have lodged bids in the creditors meeting. Count 'em, thats five. Bates, one. Morris, two. Revie, three. Now it gets tricky. Supporters Trust (maybe), four. God knows who else.

The YEP reports that the man behind Revie's bid is the WORLD'S 5th richest man, ruler of Dubai and all round good egg, Shiek Maktoum. He owns loads of other stuff (thorugh D.I.C) and nearly bought Liverpool if you're interested. The theory goes that Bates buys Leeds with loads of debt. Option 1 is to get back in premiership, clear debts and sell club for healthy profit and retire to Monaco for good. Option 2 (which is now being played out) is Bates buys Leeds, they fail to get promoted (and in this case relegated), go into administration, clear all the debts, look like a promising investment (good facilities, one club city etc) and Bates sells club for healthy profit and retires to Monaco for good.



Sounds reasonable. Bates is no spring chicken and is money orientated. A good offer and he would probably sell as he has no real connection with the club. Basically he did the same at Chelsea over a longer period. Bought them when they were penniless, restructured the finances, did the ground up a bit and sold it on when he got a good offer. Although it is worth noting that Chelsea were very much still in debt when he sold up.



I've no idea how genuine Revie's (and possibly the mystery Sheik's) bid is but if, and it's a BIG if, panned out like it's rumoured to, then we would be laughing all the way back to the Premiership.



Is it too early to start dreaming again?