TOMA 3 (!) This summer???

[MeeTa]

Exotix Credit Research point out problems with GFH finances: https://dl.dropbox.com/u/753523/Exotix% ... 013%29.pdf …


I got lost after the first page! Any business people on here care to have a look and post their thoughts in laymans terms pls?

Certain phrases worry me, especially on the first few pages, before it gets too complicated...

Oh dear, I could probably get the majority of points of this if it wasnt a bit late now, but some of the details and specifics is bit above my current business education. If i find some spare time tomorrow i might give it go, unless someone els feels like going through this.

[Gino 1959]

Just read this:

"on December 21st 2011 the club (Leeds United) issued 32 preference shares to Lutonville Holdings, an offshore company linked to Bates. The shares were issued for £3,092,894. The preference shares were 'redeemable upon a change of control in Leeds City Holdings' - the parent company Bates sold to GFH. Any new owner of Leeds would have to buy out Lutonville. So, the day before the sale to GFH went through, the preference shares were duly redeemed for £4m, paid from a facility which either came from or was guaranteed by GFH as part of the takeover.

A cool £1m tax-free in just 12 months. Nice work, if you can get it

[Twiggster]

Bahrain Stock Exchange is not happy with GFH or GFH-C, it seems? Article Here

Still, at least the new owners have answer to someone, being a publicly listed company. Unlike bates, who was only accountable to his horrible self.

[Drs.Dad]

Bahrain Stock Exchange is not happy with GFH or GFH-C, it seems? Article Here

Still, at least the new owners have answer to someone, being a publicly listed company. Unlike bates, who was only accountable to his horrible self.

I was reading this report, with much interest! I noted that near the bottom is states the tomorrow is the AGM of GFH, when hopefully all contradictions between GFH and GFHC will be explained..... but they certainly seem to be twisting in the wind over what their exact position is. I still feel another takeover coming on!

[hector]

So ..... when I win the biggie lotto on friday... how much would it cost me to own the club and ground and T.A??

[Emsley]

Elland road football club and all its assets can be yours for 43 million Pound!
Buy now and we will even throw in whats left of the supporters!

[hector]

jackpot is 110M hmmmmmmmmmm

when I win then Ems wanna be chairman?

[Twiggster]

So ..... when I win the biggie lotto on friday... how much would it cost me to own the club and ground and T.A??

Sorry Hector, but I'M going to win the Euro millions on Friday! I'm going to buy scum and run it into the ground!

Seriously tho - I'd not buy LUFC. Possibly look into buying back ER and TA, but if (as I think) bates owns them, I'd not even sit at the same table to negotiate.
£110M might buy LUFC and then what, when a decent Prem player costs that these days?

[Drs.Dad]

Quote from today's Daily Mail (couldn't find it on Mail Online)


"Leeds owners, GFH Capital, who are already looking for a manager to succeed Neil Warnock, are seeking new majority shareholders as well. Yorkshire haulage magnate Steve Parkin, who runs the Clipper Group, was given a two-month exclusivity period to negotiate his consortium's 51 per cent proposal. But that ended this week and GFH Capital, who want to keep a stake of around 25 per cent are looking elsewhere for support. Parkin first bid to buy Leeds in 2004."
Charlie Sale was the reporter.

I think it is about time GFHC opened up with a bit of the truth! Are they trying to sell the club on, or not?
At least have the courtesy to let us know what is going on!

[HarryofOz]

Quote from today's Daily Mail (couldn't find it on Mail Online)


"Leeds owners, GFH Capital, who are already looking for a manager to succeed Neil Warnock, are seeking new majority shareholders as well. Yorkshire haulage magnate Steve Parkin, who runs the Clipper Group, was given a two-month exclusivity period to negotiate his consortium's 51 per cent proposal. But that ended this week and GFH Capital, who want to keep a stake of around 25 per cent are looking elsewhere for support. Parkin first bid to buy Leeds in 2004."
Charlie Sale was the reporter.

I think it is about time GFHC opened up with a bit of the truth! Are they trying to sell the club on, or not?
At least have the courtesy to let us know what is going on!

You mean they haven't tweeted the full facts yet? :mrgreen:

[Twiggster]

Parkin lost his middle east backing because of "lack of communication with LUFC and refusals by GFHC to talk"...Allegedly, I hasten to add. Just what I heard. (NOT from twitter BTW)... They got fed up with waiting.
Parkin hasn't got the dosh to do it alone unfortunately...this WAS a decent bid, but apparently the grinning schoolboys in charge of our club didn't want to listen...

[Crude]

GFH don't want to sell the majority share in the club. Didn't they say so weeks ago?

[Twiggster]

GFH don't want to sell the majority share in the club. Didn't they say so weeks ago?

THAT is what bugs me, Dan - the GFH parent company has us as openly up for sale - yet laurel and hardy at GFHC won't accept a decent bid for control? They (Haigh and Patel) bought LUFC scarves as well....

[Crude]

THAT is what bugs me, Dan - the GFH parent company has us as openly up for sale - yet laurel and hardy at GFHC won't accept a decent bid for control? They (Haigh and Patel) bought LUFC scarves as well....

Clearly Tom Lees is to blame here. BASTID!

[Emsley]

I reckon if the right bid came in they would up and off without hesitating after all they are investment bankers.
I have read nothing to suggest that this clipper bloke has a pot to piss in.

[Twiggster]

I reckon if the right bid came in they would up and off without hesitating after all they are investment bankers.
I have read nothing to suggest that this clipper bloke has a pot to piss in.

Parkin's backers had more than enough funds to buy out GFHC twice over. They were stalled until they got pished off. Remind you of a scenario this summer when time ran out and another arab zillionaire company with a decent proposal got pished off?
Bates is STILL here and controlling GFHC, people. The fukker is STILL here. Trying to destroy us.

[YorkshireSquare]

THAT is what bugs me, Dan - the GFH parent company has us as openly up for sale - yet laurel and hardy at GFHC won't accept a decent bid for control? They (Haigh and Patel) bought LUFC scarves as well....

They don't have us 'openly up for sale', it's an accounting technique. You lay out to but something, that takes you into debt and makes your year end figures look bad so you mark it as an 'asset for sale' add a bit of mark up as a projected sale valuation and hey presto it looks like you've made a nice bit of money.

[Martyn]

I was speaking to a friend of mine in corporate finance the other day and asked him what he thought GFH and/or GFH-C's intentions were.

His view is that as an investment bank the most likely option would be that they sell off chunks - 10% here, 15% there - each at a higher value than the 10% or 15% of their purchase price so that they end up with (say) a 25% ownership having recouped all their investment by the sale of the other 75%.

That 25% is then pure profit, they've covered off any risks and they're happy.

Any stalling on whether or not to sell a 51% controlling interest comes down to whether they believe they could get a better deal on that 51% by selling it as several smaller packages.

That all seems to make sense to me.

Whether it's in the best interests of LUFC might be a whole different story, but given the way we failed to prosper when Bates and/or his stooges owned 100% it's not necessarily a totally bad thing.

[The Subhuman]

I was speaking to a friend of mine in corporate finance the other day and asked him what he thought GFH and/or GFH-C's intentions were.

His view is that as an investment bank the most likely option would be that they sell off chunks - 10% here, 15% there - each at a higher value than the 10% or 15% of their purchase price so that they end up with (say) a 25% ownership having recouped all their investment by the sale of the other 75%.

That 25% is then pure profit, they've covered off any risks and they're happy.

Any stalling on whether or not to sell a 51% controlling interest comes down to whether they believe they could get a better deal on that 51% by selling it as several smaller packages.

That all seems to make sense to me.

Whether it's in the best interests of LUFC might be a whole different story, but given the way we failed to prosper when Bates and/or his stooges owned 100% it's not necessarily a totally bad thing.

in that scenario if our new manager wanted 2 mill for an impact player...who approves that? does it go to a vote? will that take more time than usual...will we end up with more compromise than is good for a running of a football club?

I guess one would hope they appoint a director of football and give him carte blanche regarding all decisions...who would then give HIS manager a long leash as he builds his football squad.

[The Subhuman]

It might be interesting to get say 6 or 7 regular posters a random percentage of "ownership" and see what kind of decisions we might make...

as a thought exercise...