Good Morning. It's Thursday 5th September, and here are the Leeds Utd headlines...
Derby, Reading and Sheffield Wednesday investigated over FFP loophole
According to The Times, the English Football League have launched investigations into Derby County, Sheffield Wednesday and Reading over their actions to try and avoid FFP penalties.
The report explains that the EFL have launched independent valuations on Derby, Sheffield Wednesday and Readings Stadiums as the trio of clubs tried to exploit a loophole in profit and sustainability rules by purchasing their own stadiums and leasing them back, thus raising enough revenue to stay within the 39m deficit over a three year period.
Morris (Derby) used a separate company to buy the ground for £80m, with a deal to lease it back to the club. Leeds Chairman Andrea Radrizzani has been vocal of hid Derby Counterpart especially after the fuss they made over Spygate.
Speaking at the Financial Times Business of Football Summit, he said:
We should revisit the rules. We were judged as a cheating club when we sent a scout to watch [Derby] training, so they should take a similar view on what I would say is greater cheating by these clubs. For me if it’s cheating to send a scout in a public street, what should be the punishment of selling the stadium to a sister company to increase income of the clubs?
Bamford turns down Republic of Ireland to concentrate on Leeds
Republic of Ireland fans have been laying into Leeds striker Patrick Bamford over his reluctance to switch his allegiance to Mick McCarthy's team as he wants to be fully focused on Leeds.
I spoke to Mick and he asked me to basically change over nationality for the summer games and I said ‘look I had a bad injury last year and I want to concentrate interest of the season with Leeds. I am not saying no, I am just concentrating on Leeds. I haven’t closed any doors, I have not said yes, I have not said no.
Kinnear - “We’re not desperate for investors”
In a recent interview with the BBC, Leeds Managing Director Angus Kinnear was asked if Leeds were close to taking on another investor, after the San Francisco 49ers brought a stake in the club last year.
Kinnear went on to say that it was important to get the right investors – like the 49ers – who weren’t disruptive in terms of how the club is run.We’re not desperate for investors. Andrea has been very clear on this but he’s prepared to bring a partner on board if it moves the club more quickly in the right direction or in a sustainable fashion. So it’s not surprising that we have lots of interest because we’re one of the most investable propositions in world football. We’re a one-club city, fantastic stadium, fantastic supporter base, everyone knows we should be in the Premier League, so there’s interest all round the world in terms of investing, but Andrea and I are being patient, we’re waiting for the right person and the right deal and making sure it’s someone we can work with in the long run.
They’re supportive, they’re not intrusive and that’s what we’re looking for in another partner.
