Of course he isnt shelling out for nothing.
IF he owns or has an interest in the offshore company then he is both making some money on the rental income, plus he will potentially make some cash when LUFC buys back the ground. The latter depends entirely on how much he bought it off Adler for, and how much he sells to us. Ultimately though if he negotiated a £11m price off Adler and LUFC buys it back for the original £12m, then LUFC are no worse off, we pay the same £12m regardless, and his company makes £1m. As I said before, ultimately, however he makes his money LUFC are no worse off and in fact better off as we arent directly paying him anything at all. Its like you renting a flat and paying £600/m with an option to buy for £150k PLUS paying an extra £50/m to the landlord and then getting a new landlord who charges the same rent and same buyback price but you dont pay the £50/m. You are £50m better off, the new landlord is (your buyback price) (his purchase price) better off. If he was a philanthropist then he would drop the rent and/or drop the buy back price. Just because he doesnt it doesnt mean he is ripping us off does it? From: MATTHEW GAYNOR [mailto:[EMAIL PROTECTED] Sent: 09 January 2007 11:11 To: Mark Humphries; 'Øystein Bjøndal Lund'; 'John Boocock'; [email protected] Subject: RE: [LU] Kilgallon Well i guess we'll probably never know for sure, but i struggle to view Bates as a philanthropist, shelling out money on Leeds with no guaranteed return. If Bates is taking money out - i'm not sure it matters if it's direct or not. Matt Mark Humphries <[EMAIL PROTECTED]> wrote: Its interesting you say that, seeing as noone actually knows who owns the Virgin Island company, but anyhow, wed be paying the rent to Adler, so for us lot it makes no difference where the money goes. Its not like Bates sold the ground to begin with is it!? The one main difference with Bates is that he isnt taking money direct from LUFC, unlike everyone else previously involved with owning and running the club an who have ALSO ripped us off. From: MATTHEW GAYNOR [mailto:[EMAIL PROTECTED] Sent: 09 January 2007 10:43 To: Mark Humphries; 'Øystein Bjøndal Lund'; 'John Boocock'; [email protected] Subject: Re: [LU] Kilgallon Maybe he doesn't need the money direct from the company as he's getting a million a year rent from a Property he owns in the North of England through his Virgin Islands Company. Matt Mark Humphries <[EMAIL PROTECTED]> wrote: 1. He doesnt get paid by the company, so any benefit he gets will be by investing the cash into the infrastructure and getting the benefit when he sells. 2. Unless we want to spiral into oblivion then we need to have some money for next season if we go down, so not splashing it all now wouldnt necessarily be a bad thing 3. My guess is that Wise will get the money to spend, but they arent going to advertise that fact (and drive up prices), and also it might be difficult to actually spend it because who would want to come to us right now! -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Øystein Bjøndal Lund Sent: 09 January 2007 10:12 To: John Boocock; [email protected] Subject: Re: [LU] Kilgallon Indeed we are not! Bates' pocket is my guess.... Øystein _______________________________________________ the Leeds List is an unmoderated mailing list and the list administrators accept no liability for the personal views and opinions of contributors. Leedslist mailing list [email protected] http://list.zetnet.co.uk/mailman/listinfo/leedslist 'I am in shock,' said Ferguson.
