3 May 2007
LEEDS ENTER ADMINISTRATION
At 3.15pm today our faith was finally sealed and our worst fears were realised when our beloved Leeds United went into administration. Football League rules state any club entering administration is to be docked 10 points.
As we had 10 points immediately deducted it means that any slim chance of staying up were finally gone up in smoke. Some consolation is that there will be no further points deduction when we play in League 1 next season so Leeds will start off with a clean slate.
Shortly after the appointment of Administrators the business and assets of the club were sold to another company called Leeds United Football Club Limited ( Leeds)whose investors have been introduced by Ken Bates. Complicated I hear you say.Richard Fleming, joint administrator and KPMG restructuring partner, revealed Leeds' debt totalled £35million.
Fleming told KPMG's website: "We were asked by the board of directors to advise Leeds United… Read more