One other thing...and it may just be my aging and failing memory; however I seem to remember the original buy back price being quoted as a total of13 million for both ER and TH properties. The latest figures seem to imply 13 million just for ER and a further 5 million for TH..
A misprint? Mis-reading? Or someone making an extra 5 million at the taxpayer's expense? Also the terms of the sale were, as understand them that Leeds United had the option to buy back at the set price, no body else had that option nor would I imagine it was transferable. That being the case how can the council or anyone else provide the money, if they can't buy it and lenders do not tend to lend money to anyone (even the city) for them to give it to another party, to buy something that the initial borrower would not hold a secured interest in, to at least the value of the loan. If the council or the trust or whichever third party were buying the property, were not a beneficiary of the favourable buy-back terms of the original sale, does this explain the extra 5 million...? My brain hurts.! More clouded memories...didn't the council used to own the ground and then virtually give it to the club, with the condition that the location should always be used for a sports facility or some such arrangement? Where does that fit in to everything that has gone on. God I have got to stop trying to think at my age. _______________________________________________ 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 it's a God awful small affair
