[LU] Phil Hay in the Athletic

[John Boocock]

I take it that everyone has read this too. LUST are probably already 
preparing for The March On Rome. "Our program is simple: we want to rule 
Beeston."


https://theathletic.com/4568028/2023/06/01/leeds-elland-road-sampdoria-radrizzani

Leeds United’s chairman Andrea Radrizzani offered to use the club’s 
Elland Road stadium as security for a £26million bank loan which his 
company, Aser, and a bidding partner, Gestio Capital, intended to use to 
complete a takeover of the Italian club Sampdoria. Under a heads of 
terms agreement co-signed by Radrizzani — essentially an agreement in 
principle — Elland Road would act as collateral as part of a deal by 
Radrizzani’s Aser and his bidding partner Gestio Capital to borrow €30m 
(£25.8m; $32.1m) from Italian bank Banca Sistema, helping to fund their 
Sampdoria buy-out.


The proposed bridging loan would be due for repayment within two years, 
and also contains clauses showing that the bank would charge interest of 
provisionally between six and nine per cent per year during this period. 
However, the agreement would also enable the loan to be extended for up 
to a decade, which throws open the possibility that Leeds United’s home 
could act as security for Radrizzani’s Italian venture on Sampdoria for 
10 years. The current status of the proposed loan and the extent to 
which it has progressed beyond a heads of terms agreement is unclear, 
but no charge has been registered, at the time of publication, on 
Companies House, the executive agency of the British government that 
maintains the register of companies.
The Leeds stadium is not owned by Leeds themselves but was bought by 
Radrizzani in 2017, shortly after he became owner of the Yorkshire club.


In a further twist, however, sources close to the takeover process 
insisted on Thursday morning that Leeds board members, including the 
49ers and the club’s chief executive Kinnear, had not been informed of 
the proposal to use Elland Road as security against the loan. The 
sources added that Marinelli, a Leeds board member, an officer of Elland 
Road Ltd and the CEO of Aser, who are part of the group attempting to 
take over Sampdoria, had also not been informed. Radrizzani did not 
respond to a request for comment on this point. It is understood the 
49ers were only informed about Radrizzani’s proposal on Wednesday 
evening after The Athletic’s initial approach. It remains unclear 
whether the agreement in principle has progressed further, or if 
Radrizzani ultimately opted for a different approach to secure funding, 
but it is remarkable in itself that the Leeds chairman was prepared to 
put his name to securing the stadium of his current club against a loan 
to buy a different club. It is also likely to strain relations between 
Radrizzani and the 49ers just at the point supporters may be hoping they 
will thrash out a final agreement for a takeover. In an email to The 
Athletic on Wednesday evening, Radrizzani said: “You are not well 
informed as the deal has been done by Gestio Capital.” Gestio Capital 
did not respond to a request for comment.


A bit more from the article…

Leeds United’s chairman Andrea Radrizzani offered to use the club’s 
Elland Road stadium as security for a £26million bank loan which his 
company, Aser, and a bidding partner, Gestio Capital, intended to use to 
complete a takeover of the Italian club Sampdoria. Under a heads of 
terms agreement co-signed by Radrizzani — essentially an agreement in 
principle — Elland Road would act as collateral as part of a deal by 
Radrizzani’s Aser and his bidding partner Gestio Capital to borrow €30m 
(£25.8m; $32.1m) from Italian bank Banca Sistema, helping to fund their 
Sampdoria buy-out. Leeds were only relegated from the Premier League to 
the Championship on Sunday afternoon but their majority owner Radrizzani 
was not present at the final match of the campaign as he instead sought 
to finalise an agreement for Sampdoria.


Leeds are majority-owned by Radrizzani but the club’s minority 
shareholder, 49ers Enterprises, has been in discussions to acquire 
control of the club. No agreement has yet been reached, however, and 
sources close to the takeover process, who like others in this article 
wished not to be named to protect business relationships, told The 
Athletic that the 49ers had not been informed about the stadium being 
put forward as the security for a potential loan. Less than 24 hours 
after Radrizzani announced that an agreement had been reached in 
principle for his group to purchase Sampdoria, The Athletic learned that 
a proposal had earlier been drawn up which meant that in order for the 
bank to approve the loan, it would be secured against Leeds’ Elland Road 
ground, which is controlled by Elland Road Ltd, the UK company which 
controls the stadium.


The proposed bridging loan would be due for repayment within two years, 
and also contains clauses showing that the bank would charge interest of 
provisionally between s

Re: [LU] Phil Hay in the Athletic

[Simon McNally via Leedslist]

Sooner Radz goes the better.
Although his message yesterday didn’t sound like he was leaving.

Sent from Outlook for iOS

From: Leedslist  on behalf of John Boocock 

Sent: Thursday, June 1, 2023 6:17:36 PM
To: leedslist@gn.apc.org 
Subject: [LU] Phil Hay in the Athletic

I take it that everyone has read this too. LUST are probably already
preparing for The March On Rome. "Our program is simple: we want to rule
Beeston."

https://theathletic.com/4568028/2023/06/01/leeds-elland-road-sampdoria-radrizzani

Leeds United’s chairman Andrea Radrizzani offered to use the club’s
Elland Road stadium as security for a £26million bank loan which his
company, Aser, and a bidding partner, Gestio Capital, intended to use to
complete a takeover of the Italian club Sampdoria. Under a heads of
terms agreement co-signed by Radrizzani — essentially an agreement in
principle — Elland Road would act as collateral as part of a deal by
Radrizzani’s Aser and his bidding partner Gestio Capital to borrow €30m
(£25.8m; $32.1m) from Italian bank Banca Sistema, helping to fund their
Sampdoria buy-out.

The proposed bridging loan would be due for repayment within two years,
and also contains clauses showing that the bank would charge interest of
provisionally between six and nine per cent per year during this period.
However, the agreement would also enable the loan to be extended for up
to a decade, which throws open the possibility that Leeds United’s home
could act as security for Radrizzani’s Italian venture on Sampdoria for
10 years. The current status of the proposed loan and the extent to
which it has progressed beyond a heads of terms agreement is unclear,
but no charge has been registered, at the time of publication, on
Companies House, the executive agency of the British government that
maintains the register of companies.
The Leeds stadium is not owned by Leeds themselves but was bought by
Radrizzani in 2017, shortly after he became owner of the Yorkshire club.

In a further twist, however, sources close to the takeover process
insisted on Thursday morning that Leeds board members, including the
49ers and the club’s chief executive Kinnear, had not been informed of
the proposal to use Elland Road as security against the loan. The
sources added that Marinelli, a Leeds board member, an officer of Elland
Road Ltd and the CEO of Aser, who are part of the group attempting to
take over Sampdoria, had also not been informed. Radrizzani did not
respond to a request for comment on this point. It is understood the
49ers were only informed about Radrizzani’s proposal on Wednesday
evening after The Athletic’s initial approach. It remains unclear
whether the agreement in principle has progressed further, or if
Radrizzani ultimately opted for a different approach to secure funding,
but it is remarkable in itself that the Leeds chairman was prepared to
put his name to securing the stadium of his current club against a loan
to buy a different club. It is also likely to strain relations between
Radrizzani and the 49ers just at the point supporters may be hoping they
will thrash out a final agreement for a takeover. In an email to The
Athletic on Wednesday evening, Radrizzani said: “You are not well
informed as the deal has been done by Gestio Capital.” Gestio Capital
did not respond to a request for comment.

A bit more from the article…

Leeds United’s chairman Andrea Radrizzani offered to use the club’s
Elland Road stadium as security for a £26million bank loan which his
company, Aser, and a bidding partner, Gestio Capital, intended to use to
complete a takeover of the Italian club Sampdoria. Under a heads of
terms agreement co-signed by Radrizzani — essentially an agreement in
principle — Elland Road would act as collateral as part of a deal by
Radrizzani’s Aser and his bidding partner Gestio Capital to borrow €30m
(£25.8m; $32.1m) from Italian bank Banca Sistema, helping to fund their
Sampdoria buy-out. Leeds were only relegated from the Premier League to
the Championship on Sunday afternoon but their majority owner Radrizzani
was not present at the final match of the campaign as he instead sought
to finalise an agreement for Sampdoria.

Leeds are majority-owned by Radrizzani but the club’s minority
shareholder, 49ers Enterprises, has been in discussions to acquire
control of the club. No agreement has yet been reached, however, and
sources close to the takeover process, who like others in this article
wished not to be named to protect business relationships, told The
Athletic that the 49ers had not been informed about the stadium being
put forward as the security for a potential loan. Less than 24 hours
after Radrizzani announced that an agreement had been reached in
principle for his group to purchase Sampdoria, The Athletic learned that
a proposal had earlier been drawn up which meant that in order for the
bank to approve the loan, it would be secured against Leeds’ Elland Road
gro

Re: [LU] Phil Hay in the Athletic

[John Lee via Leedslist]

As a bystander, then watching a game of economic he-said/she said sheds no 
light on what is actually going on, or how it may affect LUFC in the longer 
term. If Radz has gone behind the 49ers backs, and frankly who knows if that is 
true, then I don’t know how that will impact? I also think the Athletic are 
deliberately playing fans too, for what end who knows?

Strange times and dark deeds abound?


> On 1 Jun 2023, at 18:17, John Boocock  wrote:
> 
> I take it that everyone has read this too. LUST are probably already 
> preparing for The March On Rome. "Our program is simple: we want to rule 
> Beeston."
> 
> https://theathletic.com/4568028/2023/06/01/leeds-elland-road-sampdoria-radrizzani
> 
> Leeds United’s chairman Andrea Radrizzani offered to use the club’s Elland 
> Road stadium as security for a £26million bank loan which his company, Aser, 
> and a bidding partner, Gestio Capital, intended to use to complete a takeover 
> of the Italian club Sampdoria. Under a heads of terms agreement co-signed by 
> Radrizzani — essentially an agreement in principle — Elland Road would act as 
> collateral as part of a deal by Radrizzani’s Aser and his bidding partner 
> Gestio Capital to borrow €30m (£25.8m; $32.1m) from Italian bank Banca 
> Sistema, helping to fund their Sampdoria buy-out.
> 
> The proposed bridging loan would be due for repayment within two years, and 
> also contains clauses showing that the bank would charge interest of 
> provisionally between six and nine per cent per year during this period. 
> However, the agreement would also enable the loan to be extended for up to a 
> decade, which throws open the possibility that Leeds United’s home could act 
> as security for Radrizzani’s Italian venture on Sampdoria for 10 years. The 
> current status of the proposed loan and the extent to which it has progressed 
> beyond a heads of terms agreement is unclear, but no charge has been 
> registered, at the time of publication, on Companies House, the executive 
> agency of the British government that maintains the register of companies.
> The Leeds stadium is not owned by Leeds themselves but was bought by 
> Radrizzani in 2017, shortly after he became owner of the Yorkshire club.
> 
> In a further twist, however, sources close to the takeover process insisted 
> on Thursday morning that Leeds board members, including the 49ers and the 
> club’s chief executive Kinnear, had not been informed of the proposal to use 
> Elland Road as security against the loan. The sources added that Marinelli, a 
> Leeds board member, an officer of Elland Road Ltd and the CEO of Aser, who 
> are part of the group attempting to take over Sampdoria, had also not been 
> informed. Radrizzani did not respond to a request for comment on this point. 
> It is understood the 49ers were only informed about Radrizzani’s proposal on 
> Wednesday evening after The Athletic’s initial approach. It remains unclear 
> whether the agreement in principle has progressed further, or if Radrizzani 
> ultimately opted for a different approach to secure funding, but it is 
> remarkable in itself that the Leeds chairman was prepared to put his name to 
> securing the stadium of his current club against a loan to buy a different 
> club. It is also likely to strain relations between Radrizzani and the 49ers 
> just at the point supporters may be hoping they will thrash out a final 
> agreement for a takeover. In an email to The Athletic on Wednesday evening, 
> Radrizzani said: “You are not well informed as the deal has been done by 
> Gestio Capital.” Gestio Capital did not respond to a request for comment.
> 
> A bit more from the article…
> 
> Leeds United’s chairman Andrea Radrizzani offered to use the club’s Elland 
> Road stadium as security for a £26million bank loan which his company, Aser, 
> and a bidding partner, Gestio Capital, intended to use to complete a takeover 
> of the Italian club Sampdoria. Under a heads of terms agreement co-signed by 
> Radrizzani — essentially an agreement in principle — Elland Road would act as 
> collateral as part of a deal by Radrizzani’s Aser and his bidding partner 
> Gestio Capital to borrow €30m (£25.8m; $32.1m) from Italian bank Banca 
> Sistema, helping to fund their Sampdoria buy-out. Leeds were only relegated 
> from the Premier League to the Championship on Sunday afternoon but their 
> majority owner Radrizzani was not present at the final match of the campaign 
> as he instead sought to finalise an agreement for Sampdoria.
> 
> Leeds are majority-owned by Radrizzani but the club’s minority shareholder, 
> 49ers Enterprises, has been in discussions to acquire control of the club. No 
> agreement has yet been reached, however, and sources close to the takeover 
> process, who like others in this article wished not to be named to protect 
> business relationships, told The Athletic that the 49ers had not been 
> informed about the stadium being put forward as the security for a potent

Re: [LU] Phil Hay in the Athletic

[Michael Benjamin]

Radz is a three-way twat.
One that he thought of the scheme. Two that he got caught and three he didn't 
do it.
This shows the manner of the man, his state of mind and his state of finance.
He, the grand strategist, has lost control and standing at a critical time for 
us and him.
My bet is both deals collapsing and a very unpopular Radz clinging to the 
wreckage here whilst flogging off the lifeboats to stay afloat.
From circling the plug in the PL we will be going the same one league down
 I thought everything was undercontrol and hidden by a NDA.
I fear that is not so.


Get Outlook for Android

From: Leedslist  on behalf of John Boocock 

Sent: Thursday, June 1, 2023 8:17:36 PM
To: leedslist@gn.apc.org 
Subject: [LU] Phil Hay in the Athletic

I take it that everyone has read this too. LUST are probably already
preparing for The March On Rome. "Our program is simple: we want to rule
Beeston."

https://theathletic.com/4568028/2023/06/01/leeds-elland-road-sampdoria-radrizzani

Leeds United’s chairman Andrea Radrizzani offered to use the club’s
Elland Road stadium as security for a £26million bank loan which his
company, Aser, and a bidding partner, Gestio Capital, intended to use to
complete a takeover of the Italian club Sampdoria. Under a heads of
terms agreement co-signed by Radrizzani — essentially an agreement in
principle — Elland Road would act as collateral as part of a deal by
Radrizzani’s Aser and his bidding partner Gestio Capital to borrow €30m
(£25.8m; $32.1m) from Italian bank Banca Sistema, helping to fund their
Sampdoria buy-out.

The proposed bridging loan would be due for repayment within two years,
and also contains clauses showing that the bank would charge interest of
provisionally between six and nine per cent per year during this period.
However, the agreement would also enable the loan to be extended for up
to a decade, which throws open the possibility that Leeds United’s home
could act as security for Radrizzani’s Italian venture on Sampdoria for
10 years. The current status of the proposed loan and the extent to
which it has progressed beyond a heads of terms agreement is unclear,
but no charge has been registered, at the time of publication, on
Companies House, the executive agency of the British government that
maintains the register of companies.
The Leeds stadium is not owned by Leeds themselves but was bought by
Radrizzani in 2017, shortly after he became owner of the Yorkshire club.

In a further twist, however, sources close to the takeover process
insisted on Thursday morning that Leeds board members, including the
49ers and the club’s chief executive Kinnear, had not been informed of
the proposal to use Elland Road as security against the loan. The
sources added that Marinelli, a Leeds board member, an officer of Elland
Road Ltd and the CEO of Aser, who are part of the group attempting to
take over Sampdoria, had also not been informed. Radrizzani did not
respond to a request for comment on this point. It is understood the
49ers were only informed about Radrizzani’s proposal on Wednesday
evening after The Athletic’s initial approach. It remains unclear
whether the agreement in principle has progressed further, or if
Radrizzani ultimately opted for a different approach to secure funding,
but it is remarkable in itself that the Leeds chairman was prepared to
put his name to securing the stadium of his current club against a loan
to buy a different club. It is also likely to strain relations between
Radrizzani and the 49ers just at the point supporters may be hoping they
will thrash out a final agreement for a takeover. In an email to The
Athletic on Wednesday evening, Radrizzani said: “You are not well
informed as the deal has been done by Gestio Capital.” Gestio Capital
did not respond to a request for comment.

A bit more from the article…

Leeds United’s chairman Andrea Radrizzani offered to use the club’s
Elland Road stadium as security for a £26million bank loan which his
company, Aser, and a bidding partner, Gestio Capital, intended to use to
complete a takeover of the Italian club Sampdoria. Under a heads of
terms agreement co-signed by Radrizzani — essentially an agreement in
principle — Elland Road would act as collateral as part of a deal by
Radrizzani’s Aser and his bidding partner Gestio Capital to borrow €30m
(£25.8m; $32.1m) from Italian bank Banca Sistema, helping to fund their
Sampdoria buy-out. Leeds were only relegated from the Premier League to
the Championship on Sunday afternoon but their majority owner Radrizzani
was not present at the final match of the campaign as he instead sought
to finalise an agreement for Sampdoria.

Leeds are majority-owned by Radrizzani but the club’s minority
shareholder, 49ers Enterprises, has been in discussions to acquire
control of the club. No agreement has yet been reached, however, and
sources close to the takeover process, who like others in this article
wished

Re: [LU] Phil Hay in the Athletic

[MATTHEW GAYNOR via Leedslist]

It does all feel a bit Succession.
I suspect Radz isnt happy with the price the 49ers are offering post 
relegation and so is making it known;


1) He could decide to stay
2) He might separate out control of the ground from the rest of the club

In order to push the 49ers into upping their offer.

If he does sell out he'd have the funds to buy Sampdoria without the 
loan against the ground


I think those demonising him have a short memory to what came before - 
Cellino, GFH, Bates


Matt

-- Original Message --
From: "John Lee via Leedslist" 
To: "John Boocock" 
Cc: "leedslist@gn.apc.org" 
Sent: Thursday, 1 Jun, 23 At 19:29
Subject: Re: [LU] Phil Hay in the Athletic
As a bystander, then watching a game of economic he-said/she said sheds 
no light on what is actually going on, or how it may affect LUFC in the 
longer term. If Radz has gone behind the 49ers backs, and frankly who 
knows if that is true, then I don’t know how that will impact? I also 
think the Athletic are deliberately playing fans too, for what end who 
knows?

Strange times and dark deeds abound?

On 1 Jun 2023, at 18:17, John Boocock  wrote:
I take it that everyone has read this too. LUST are probably already 
preparing for The March On Rome. "Our program is simple: we want to rule 
Beeston."
https://theathletic.com/4568028/2023/06/01/leeds-elland-road-sampdoria-radrizzani 

Leeds United’s chairman Andrea Radrizzani offered to use the club’s 
Elland Road stadium as security for a £26million bank loan which his 
company, Aser, and a bidding partner, Gestio Capital, intended to use to 
complete a takeover of the Italian club Sampdoria. Under a heads of 
terms agreement co-signed by Radrizzani — essentially an agreement in 
principle — Elland Road would act as collateral as part of a deal by 
Radrizzani’s Aser and his bidding partner Gestio Capital to borrow €30m 
(£25.8m; $32.1m) from Italian bank Banca Sistema, helping to fund their 
Sampdoria buy-out.
The proposed bridging loan would be due for repayment within two years, 
and also contains clauses showing that the bank would charge interest of 
provisionally between six and nine per cent per year during this period. 
However, the agreement would also enable the loan to be extended for up 
to a decade, which throws open the possibility that Leeds United’s home 
could act as security for Radrizzani’s Italian venture on Sampdoria for 
10 years. The current status of the proposed loan and the extent to 
which it has progressed beyond a heads of terms agreement is unclear, 
but no charge has been registered, at the time of publication, on 
Companies House, the executive agency of the British government that 
maintains the register of companies.
The Leeds stadium is not owned by Leeds themselves but was bought by 
Radrizzani in 2017, shortly after he became owner of the Yorkshire club.
In a further twist, however, sources close to the takeover process 
insisted on Thursday morning that Leeds board members, including the 
49ers and the club’s chief executive Kinnear, had not been informed of 
the proposal to use Elland Road as security against the loan. The 
sources added that Marinelli, a Leeds board member, an officer of Elland 
Road Ltd and the CEO of Aser, who are part of the group attempting to 
take over Sampdoria, had also not been informed. Radrizzani did not 
respond to a request for comment on this point. It is understood the 
49ers were only informed about Radrizzani’s proposal on Wednesday 
evening after The Athletic’s initial approach. It remains unclear 
whether the agreement in principle has progressed further, or if 
Radrizzani ultimately opted for a different approach to secure funding, 
but it is remarkable in itself that the Leeds chairman was prepared to 
put his name to securing the stadium of his current club against a loan 
to buy a different club. It is also likely to strain relations between 
Radrizzani and the 49ers just at the point supporters may be hoping they 
will thrash out a final agreement for a takeover. In an email to The 
Athletic on Wednesday evening, Radrizzani said: “You are not well 
informed as the deal has been done by Gestio Capital.” Gestio Capital 
did not respond to a request for comment.

A bit more from the article…
Leeds United’s chairman Andrea Radrizzani offered to use the club’s 
Elland Road stadium as security for a £26million bank loan which his 
company, Aser, and a bidding partner, Gestio Capital, intended to use to 
complete a takeover of the Italian club Sampdoria. Under a heads of 
terms agreement co-signed by Radrizzani — essentially an agreement in 
principle — Elland Road would act as collateral as part of a deal by 
Radrizzani’s Aser and his bidding partner Gestio Capital to borrow €30m 
(£25.8m; $32.1m) from Italian bank Banca Sistema, helping to fund their 
Sampdoria buy-out. Leeds were only relegated from the Premier League to 
the Cham