Anger as Leeds bids decision is delayed http://www.yorkshirepost.co.uk/sport?articleid=3019934
By Rob Waugh THE accountants running debt-ridden Leeds United were last night accused of overseeing a "shambolic" administration of the club as the vexed question of who would win control continued to remain unanswered. Phil Willis, one of three Yorkshire MPs who have previously called for an inquiry into KPMG's controversial administration of Leeds, fiercely criticised a perceived lack of transparency in the process which has already prompted one potential team of investors to decrease their offer for the club. The confusion over the bidding process continued yesterday with KPMG refusing to clarify how many bids have been received. The only confirmed offer is a joint bid from investment company Redbus and local property developer Simon Morris. Former Leeds director and ex-Hull City chairman Adam Pearson last night declined to either confirm or deny persistent speculation that he has lodged a bid. Hopes of an early decision on whether Leeds would be resold to chairman Ken Bates or new owners came to nothing yesterday. A KPMG spokesman last night said an announcement may be made today instead. KPMG were believed to be in consultation talks with both the Football League and the Inland Revenue last night. The chairman of the Leeds United Supporters Trust, Rick Duniec, declared supporters were now "sick to death" of how the club's administration is being handled and the perception that fans were being kept in the dark over its future. There were also more searching questions last night over who has control of an estimated £3m of banked season ticket money – an issue KPMG would not clarify with bidders for Leeds. The Yorkshire Post asked KPMG whether they have had access to the books of the new company set up the moment the club went into administration on May 4 – the vehicle originally intended to return control to Bates – but did not get a response yesterday. The lack of information on the assets of the company concerned a number of would-be bidders who were only given until 5pm on Monday to make an offer for the club after it was put up for sale on Friday. Simon Morris, chairman of Redbus, has described the process as "crazy". As a result, the joint Redbus and Morris bid was less than one first made when the club went into administration. Former Leeds chairman, Gerald Krasner, who is an insolvency practitioner, has put six specific questions over where the season ticket money is and who has access to it, including asking whether KPMG has a list of those people who have paid over their money for season tickets. The questions, which also included a query over who are the signatories to the account, were put to KPMG by the Yorkshire Post, but again received no response. Harrogate and Knaresborough MP Phil Willis, who along with Elmet MP Colin Burgon and Leeds East MP George Mudie has consistently criticised the way the proposed resale of the club to Bates has been managed, said: "The way KPMG has handled the administration of Leeds United is little short of shambolic. "By refusing to reveal information both to prospective buyers and to the fans they have done a real injustice to the game of football. "There's no doubt the lack of transparency breeds suspicion and suspicion breeds contempt for a process that should breed confidence." Mr Willis's comments were put to KPMG but received no response. Fans chief Duniec said: "Supporters are absolutely sick to death of it. Beyond respecting commercial confidentiality there's still plenty of room to explain what's going on, what the next stage is and how decisions are being reached." Bates last night declined to comment on the issue of season ticket money. Leeds have previously stated the money is held in a ring-fenced account and would be returned if the club failed to start the new season. Bates remains determined to regain control of the club and has threatened legal action if KPMG deliver it to new owners. His grip on the club has loosened since the taxman mounted a legal challenge to his buy-back deal, which had been approved by KPMG in May and then narrowly confirmed by a vote of creditors last month. Bates's initial offer to pay off Leeds's creditors at 1p for every pound owed was upped to 8p in the pound in a vain bid to head of the challenge of HM Revenue and Customs (HMRC) who are owed £7.7m in unpaid tax. The club's total debts are in excess of £35m. The High Court last Friday postponed a decision on HMRC's appeal until September 3 prompting KPMG to put the club back on the market. Last Updated: 11 July 2007 8:44 AM _______________________________________________ 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 Join The Leeds United Supporters Trust at www.lufctrust.org
