Friday, August 03, 2007

8 Days to go

We have eight days to go until the new season kicks off and the Football League are still refusing to release the golden share to Leeds. According to the BBC the Football League wants them to reconstitute a Company Voluntary Agreement before they will hand the share back. Surely if they went into administration and a CVA was constituted and they are now out of administration (at least according to KPMG) then reconstituting the CVA menas they are back in administration. Perhaps this is the cunning plan of the Football League so that they can dock a further 10 points!

Meanwhile according to the Daily Telegraph the Taxman's demands are deepening Leeds crisis. David Hartnett an official at HM Revenue and Customs has insisted that Leeds must pay the £7.7 million owed in tax and has also demanded that Bates must reveal the identity of the mysterious backers behind his new bid for the club. KPMG have stated that if HM Revenue and Customs demand full payment of their debt then any attempt to obtain a new CVA would fail. Added to which of course "Leeds' biggest creditor, Astor, whose owners are unknown as the company is registered in the British Virgin Islands, have indicated that they will only back Bates' bid."

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