Re Leeds: My reading of the article and the situation generally is that they became involved in an arrangement that went something like this:
They spot a player they want who is going to cost £10m. They then go to this financier and say “we want player x”, financier buys the player, and Leeds enter into a leaseback over the term of the contract, which means they can buy out of current revenue rather than money up front (and remember that Eng-Eng transfers had to be settled within a year until recently).
They pay the financier a fee for the services of the player, and the player’s wages. However once a player is sold, the first call on the revenue is to buy out the rest of the lease, or to continue to pay the fee until the lease expires.
This seems to be the case with Robbie Keane (and some others), they are still paying his lease fee, and do not have his services to call on. This is insanity. They are dead in the water as it means that any other player that is on this arrangement is not an asset of LUFCplc but in fact is a liability in terms of future debt.
Also all their other revenue streams are reducing, not yet catastrophically, but when margins are this tight it still matters. They will be receiving less place money, went out of the league cup last night, won’t get the bonus clauses on their contracts activated and in general become a less attractive proposition to box holders etc. I can really see them going out of business.
Re spurs accounts: The big loss is indeed the hits that we took over the gnome and Fatcher. However they also don’t include our summer spending spree, but they are far from alarming. More worryingly our plans to raise another £15m have had to be dropped.
Re Spurs tonight: I am hoping that Gus and Sharon get a rest. I would start with a midfield of Rickets Dalmat, Mabizela and Konchesky, and hope that Ziege is fit enough to come on at some time as he is a brilliant crosser of the ball (and good at dead ball situations). That will give us some creativity (Dalmat and Ricketts) as well as a bit of steel. I would give Postigia a run out with Robbie too.
Re Konchesky and Perry, as both clubs are allowing the players to become cup tied it looks like they won’t be going back.