---- Original Message ----- >Does Ken want us to go up? Do we owe anyone if we do like the rumours from >before?
They were not rumours. Prior to administration there was an agreed schedule of payments to be made over quite a few years (may have been 15 or so) which would be triggered by promotion to the Premiership. This was the deal done with the bondholders and was a significant amount of money. Payments would not have been suspended upon any subsequent relegation either. Those "contingent liabilities" were cleared away by the Administration process during which the Football Club was closed down and a new club/new company was started. There are some new contingent liabilities arising from promises made at the creditors meetings where different groups introduced "bids" to pay more out in the event of promotion to the Premiership. I'd have to go back to the records to see what the offer to the creditors ended up as being but I think the figures mentioned on this thread are about right and are therefore now fairly insignificant. What nobody seems to think about is that ALL of the arrangements made by the old club were not necessarily carried forward to the new club. This might apply to the terms and conditions of both the TA buyback and the ground buyback. The potential significance of this is not known at this time. _______________________________________________ Leedslist mailing list Info and options: http://mailman-new.greennet.org.uk/mailman/listinfo/leedslist To unsubscribe, email leedslist-unsubscr...@gn.apc.org MARCHING ON TOGETHER
