Massimo TOMA thread

[YorkshireSquare]

He gave money to Bates for the 2011-12 season for sponsorship, so what is the difference? His revised low-ball offer to GFH was turned down. And much huffy-ness ensued.

This is a guy who bailed us out in the past, lent Bates money when no one else would. I really don't think we should be questioning his support of Leeds United. His life has probably been turned upside down more than most this week.

[Martyn]

He gave money to Bates for the 2011-12 season for sponsorship, so what is the difference? His revised low-ball offer to GFH was turned down. And much huffy-ness ensued.

Dan mate, this is nothing to do with whether he is a supporter, it is about his legal duties as a company director under UK company law. I know that you are in the US so wouldn't expect you to be familiar with this. Likewise, not that many people on the forum will have personal knowledge either.

I am a director of 2 small companies, in the past I have been a director of 5 others.

He has to act to protect the interests of his shareholders or he could be jailed. Lending money to LUFC at a time when he expected that Enteprise was going to take a significant share in the company was a business decision that he can justify. Once that option has gone, he needs to assure his shareholders that their money is secure.

When GFH announced they were passing responsibility for repaying the debt to a known fraudster, he had no real alternative to taking steps to stop the sale so he could recover the loan.

GFH could solve this tomorrow by repaying the loan. Why aren't they?

[Martyn]

statement from Together Leeds : here

[Cozy]

Farnan statement (newsnow link) says he's still committed to dialogue about purchasing the club and has the backing and is reaching out to GFH to talk with them so he can present a deal.... What exactly is it thats stopping GFH talking with this guy directly? - he just seems to be hovering round on the perimeter asking nicely to talk....

If he wants someone to pick him up and drive him to ER so he can knock on the door I'm sure we can arrange it.... We know a taxi firm that recently had an extended stay at the ground and should know his way there easily enough!

[ldsutd]

Until money is on the table to match Cellino's i can't help but think these consortium's are just glory hunters that seem to be bobbing about in the water just to get noticed like a bouy in the sea.

[Martyn]

Until money is on the table to match Cellino's i can't help but think these consortium's are just glory hunters that seem to be bobbing about in the water just to get noticed like a bouy in the sea.

You have a long experience of corporate negotiation do you ?

[weasel]

The way I see it is that Flowers has no legal right at all to withdraw the sposnsorship money. No doubt when the deal was signed it was signed for a specific period and we are currently still within that period. The sposnsorship wouldn't be dependant on 'on field' success, who the manager is etc. The sponsorship couldn't be dependant on any factors as the club has to order shirts with the sponsor logo on etc.

Now the loan is different but it all depends on the terms agreed. All we know is that it was loaned at 7% interest to be fully repaid in 2015. As such the loan is either to GFH or to Leeds as the club. Either way as long as the repayments are made then it is doubtful Flowers has a legal right to request early repayment. It may be in the terms that if the club is sold then the repayment must be made straightaway. However even if this was the case until the takeover is complete Flowers wouldn't be able to ask for the money - not issue a writ unless it wasn't repaid.

I agree with GFH in that the writ is frivolous and not based on anything legal. Flowers has lent the money - it doesn't give him the right to say how the club is run or mean that GFH has to sell the club to him, he had his chance and blew it.

My guess is that Farnam cannot enter talks with GFH as the deal with Cellino has been agreed (subject to the FL).

[Crude]

I get the feeling that the Farnan and to a lesser extent, Flowers, is what Bates used to call chancers. People who made big noise about buying the club when he was in charge, but when the time came to show the money, couldn't produce for whatever reasons. What that shyster was good at, was finding out other shysters, takes one to know one, if you will.


Good post weasel, btw!

[ldsutd]

I get the feeling that the Farnan and to a lesser extent, Flowers, is what Bates used to call chancers. People who made big noise about buying the club when he was in charge, but when the time came to show the money, couldn't produce for whatever reasons. What that shyster was good at, was finding out other shysters, takes one to know one, if you will.


Good post weasel, btw!

as above ^^^
haven't they been hanging around since november where is there offer? Are they waiting for Gfh to go tits up then buy for £1

[Cozy]

Farnan has to put up (very quickly) or shut up... As much as I hope he's the real deal the facts are he's made an offer for the club as far back as November so has had contact with club before and now he is stating that he can't get anyone at GFH to talk with him which is either because they have a deal done (i.e Cellino) or they don't think he has the funding perhaps and judging on the previous attempts by him to put a deal on the table they don't think there's anything there to follow up on.

So if he's serious and feels that he's in a position to provide the bid needed he needs to rock up with a suitcase full of cash pronto and knock on Mr Haighs door today at ER.

It's either that or let the inevitable take it's course with Cellino....

Sidenote: did Flowers go it alone yesterday or was it a Flowers/Farnan consortium that approached GFH yesterday? In which case surely Farnan has had some input/level of communication with GFH?

[Martyn]

The way I see it is that Flowers has no legal right at all to withdraw the sposnsorship money. No doubt when the deal was signed it was signed for a specific period and we are currently still within that period. The sposnsorship wouldn't be dependant on 'on field' success, who the manager is etc. The sponsorship couldn't be dependant on any factors as the club has to order shirts with the sponsor logo on etc.

Apparently (tweet from Phil Hay) the Enterprise sponsorship deal has a disrepute clause.

I imagine that Enterprise claim last Friday's farce brought the club into disrepute. I would have to agree.

[Crude]

Cellino just sold 98% of Cagliari, apparently....

http://www.thescratchingshed.com/2014/0 ... es-closer/

http://thecitytalking.com/sport/2014/2/ ... ri-by-text

[Martyn]

The disaster looks inevitable now.

El Colin has won.

[Genghers]

Cellino just sold 98% of Cagliari, apparently....

http://www.thescratchingshed.com/2014/0 ... es-closer/

http://thecitytalking.com/sport/2014/2/ ... ri-by-text

Worries me how many people have voted yes to Cellino on that scratching shed article

[Crude]

Lets give Cellino a chance before we bury LUFC, and hope his years of running Cagliari have made him wiser, and gets us back to the Prem.

[Gurj]

Lets give Cellino a chance before we bury LUFC, and hope his years of running Cagliari have made him wiser, and gets us back to the Prem.

Give him a chance ?! Look what he did to BMD on the single day he thought he was actually in charge......he made a complete fcuk up of the whole thing.

Have to say I am astounded at how many leeds fans are seemingly warming to Cellino becoming our owner. I know we are desperate but surely not this desperate !!!

[Crude]

Give him a chance ?! Look what he did to BMD on the single day he thought he was actually in charge......he made a complete flip up of the whole thing.

Have to say I am astounded at how many leeds fans are seemingly warming to Cellino becoming our owner. I know we are desperate but surely not this desperate !!!

And what choice do we have as supporters who the club gets sold to? Nadda... LUFC is bigger than any owner(s), no matter how detestable they might be. We survived Bates, barely, but it is time to get the TO done and dusted, and move on with the rest of the season.

[Drs.Dad]

The disaster looks inevitable now.

El Colin has won.

[pedant mode - ON]

Il Colin, surely, GW? (Male, Italian)

[pedant mode - OFF]

I've looked at a number of "Vote for Cellino/Together" results over the past few days, and it would appear that while a UK based consortium was favoured early doors, once Flowers issued his Winding Up order, the feeling changed, and Massimo seems to be winning the day, usually by roughly 2 to 1 now. He seemed to have softened his stance a bit once he saw how passionate Leeds fans were..... perhaps he has found the club to match his own passion for football?

[ldsutd]

We are All getting a bit carried away with Cellino apparently sacking Bmc. I read that he was sacked because apparently Haigh and co didn't have the balls to do it and also they wanted to sack him after the Ipswich game and also don't forget everyone was slagging Bmc off at Rochdale. Don't you think Cellino was only doing what he thought was wanted.

(gets tin hat on) ready for the onslaught

[Martyn]

[pedant mode - ON]

Il Colin, surely, GW? (Male, Italian)

[pedant mode - OFF]

I've looked at a number of "Vote for Cellino/Together" results over the past few days, and it would appear that while a UK based consortium was favoured early doors, once Flowers issued his Winding Up order, the feeling changed, and Massimo seems to be winning the day, usually by roughly 2 to 1 now. He seemed to have softened his stance a bit once he saw how passionate Leeds fans were..... perhaps he has found the club to match his own passion for football?

Strictly speaking yes, but Il Colin isn't an anagram of Cellino.