More Good News - by Matthew Gaynor
This does not bode well - I think it basically means that the city thinks
that none of the prospective buyers are going to try and rescue the
present company.
I.e. They will let the club go into
administration and buy the assets on the cheap - to try and form a new
club.
I vote they sell the ground and move to
North London
Matt
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Leeds Shares Fall as Talks Don't Concern Stock Offer (Update2)
Jan. 12 (Bloomberg) -- Shares of Leeds United Plc, one place from the
bottom of English soccer's Premier League and trying to stave off
bankruptcy, fell as much as 23 percent after the company said talks to
turn round its finances don't concern an offer for its stock.
The shares tumbled 1 penny to 3.38 pence at
11:27 a.m. in London, giving Leeds a market value of 11.7 million pounds
($21.7 million).
Leeds, which has debt of 78 million pounds,
is holding talks with ``a number of parties regarding proposals to
purchase the company's business and assets or to inject funds,'' the club
said in a Regulatory News Service statement.
Assets that may be sold include the soccer
club, said a company spokesman who declined to be named. He didn't comment
on the value of the club.
