Leeds docked 10 points?

[littlelol]

Leeds United have been relegated to League One after being deducted 10 points for going into administration.
The 10-point deduction - in accordance with Football League rules - means Leeds will finish the season at the bottom of the Championship.

However, they will not lose any points for the start of their first season in League One in August.

Administrator KPMG has already agreed to sell the club to a newly-formed company led by chairman Ken Bates.


Report: The demise of Leeds United

A KPMG statement said: "Shortly after their appointment the joint administrators agreed to sell the business and its assets to a newly formed company.

"This company is called Leeds United Football Club Limited, the directors of which are Ken Bates, Shaun Harvey and Mark Taylor.

A cash injection of approximately £10m is required to continue trading

Leeds' administrators

"The sale of the club is subject to approval by its creditors, via a Company Voluntary Arrangement (CVA).

"The creditors' meeting, to consider the CVA, will be held before the end of May. The Football League will also need to approve the sale."

Former Chelsea chairman Bates hailed a new era for the club - but also criticised the old regime for incurring huge debts.

"The action taken brings to an end the financial legacy left by others that we have spent millions of pounds trying to settle," said Bates.

"But the important thing now is not to view this as the end, but the beginning of a new era.

"The financial burden of the past finally pushed the club into administration following the issuing of a winding up petition by HM Revenue & Customs, who will be one of the company's major creditors.

"The other parties who will suffer the biggest financial loss are institutions from which the board arranged funding: Astor Investment Holdings, Krato Trust and Forward Sports Fund who collectively will lose in excess of £22m."


The Football League has confirmed Leeds' 10-point deduction and expressed its disappointment.

"Following confirmation that Leeds United have obtained an administration order, the Football League can confirm that the club has been deducted 10 points from its 2006/07 tally," said head of communications John Nagle.

"Given the recent reduction in the numbers of clubs resorting to formal insolvency proceedings, it is disappointing that Leeds United have had to seek the protection of an administration order.

"Discussions have already begun aimed at establishing how Leeds United intend exiting administration.

"This will have to include complying with the League's insolvency policy under which all 'football debts' must be settled in full."

KPMG revealed Leeds had debts "totalling approximately £35m, with a cash injection of approximately £10m required to continue trading".

If leeds had gone into Administration after the season had finished they would have been docked the points from next season. Do you think this OK or should they be docked the points from next season??????????

[Randoman]

na, smart move, season hasnt finished yet so they might as well get it out of the way before the start of next season...

[Cerveza]

damn right smart move . waited any longer and would of tarted minus 10 points for next season and then would of been screwed . at least now we can get over everything and start our rise once again . HOPEFULLY

[Jono82]

Leeds United have been relegated to League One after being deducted 10 points for going into administration.
The 10-point deduction - in accordance with Football League rules - means Leeds will finish the season at the bottom of the Championship.

However, they will not lose any points for the start of their first season in League One in August.

Administrator KPMG has already agreed to sell the club to a newly-formed company led by chairman Ken Bates.


Report: The demise of Leeds United

A KPMG statement said: "Shortly after their appointment the joint administrators agreed to sell the business and its assets to a newly formed company.

"This company is called Leeds United Football Club Limited, the directors of which are Ken Bates, Shaun Harvey and Mark Taylor.

A cash injection of approximately £10m is required to continue trading

Leeds' administrators

"The sale of the club is subject to approval by its creditors, via a Company Voluntary Arrangement (CVA).

"The creditors' meeting, to consider the CVA, will be held before the end of May. The Football League will also need to approve the sale."

Former Chelsea chairman Bates hailed a new era for the club - but also criticised the old regime for incurring huge debts.

"The action taken brings to an end the financial legacy left by others that we have spent millions of pounds trying to settle," said Bates.

"But the important thing now is not to view this as the end, but the beginning of a new era.

"The financial burden of the past finally pushed the club into administration following the issuing of a winding up petition by HM Revenue & Customs, who will be one of the company's major creditors.

"The other parties who will suffer the biggest financial loss are institutions from which the board arranged funding: Astor Investment Holdings, Krato Trust and Forward Sports Fund who collectively will lose in excess of £22m."


The Football League has confirmed Leeds' 10-point deduction and expressed its disappointment.

"Following confirmation that Leeds United have obtained an administration order, the Football League can confirm that the club has been deducted 10 points from its 2006/07 tally," said head of communications John Nagle.

"Given the recent reduction in the numbers of clubs resorting to formal insolvency proceedings, it is disappointing that Leeds United have had to seek the protection of an administration order.

"Discussions have already begun aimed at establishing how Leeds United intend exiting administration.

"This will have to include complying with the League's insolvency policy under which all 'football debts' must be settled in full."

KPMG revealed Leeds had debts "totalling approximately £35m, with a cash injection of approximately £10m required to continue trading".

If leeds had gone into Administration after the season had finished they would have been docked the points from next season. Do you think this OK or should they be docked the points from next season??????????

It's never OK to go into administration, but it's a smart move to do it this season when they were all but assured of relegation!

[Fred Goldstone]

It was the only way to solve the problem of debt as the club has no assets left to sell - apart from the players.

This way we will strat next season with a clean slate and a future instead of sinking into an ignomonious gloom.

[nachoman]

leeds supporters can thank peter risdale for the mess they are in

[Judge Judy]

a club going into administration shouldn't get it any easier. they're getting it easier but getting it out of the way this season. punish them for their incompetence and dock 'em 10 points next season too.

[caruso_19]

cant believe that what like 4 years ago they were in the epl

[Judge Judy]

6 years ago in CL semi's