Ken Bates - what a nice guy...

from today's Mediawatch...

'Ken Bates could put Leeds into administration - then legally buy the club back on the cheap, according to city experts. There is nothing to stop the chairman forcing the measure by recalling the money he has already loaned the cash-strapped club, believed to be around £10million. With no means of paying it back, the administrators would be forced to move in...With no real assets left following the massive sell-off to administrators, of course Bates would only get a tiny fraction of his money back. But then so would the tax man and other major creditors before being sent away with their tails between their legs. Inevitably there would be further redundancies as well as a massive clear-out of playing staff, but then the club would be ripe for a cut-price acquisition' - The Daily Express achieve the impossible, and lower our opinion of Ken Bates even further.

Posted By: blindasabat, May 2, 12:40:31