Leeds United has been a long running drama ever since Peter Ridsdale went off spending money like it was going out of fashion. He went long ago, four managers have gone,
Ken Bates has been on the look out for another club after he bailed out of Chelsea as they were about to go the same way with mounting debts and a move to Yorkshire has been on the cards for some time.
The hierarchy at
Retiring Chairman Gerald Krastner who has spent much of the last few months being taken for a ride by Sainsburys, has cut the debts from £100 million to just under £24 million. I think it is called asset stripping.
He will continue for a period of time to ensure a smooth handover (that is surely a contradiction in terms where Bates is involved) and he said, “We are content that under Mr. Bates, Leeds United will continue to consolidate and move forward.
“Some people told us it could not be done and we would have to take the club into administration, I think this proves it could be done.”
Click HERE to read of Bates’ attempts to get involved at Turf Moor forty years ago.