Joined: Aug 09 2011 Posts: 1906 Location: Deepest North Yorkshire Woodland
The fans and the citizens of Leeds don’t deserve another voyage of financial chaos. Looking back over the years the amount of money taken out of the club is staggering. Let’s not forget we were not far away from a similar situation, so a big thanks to Caddick and Hetherington.
Jack Burton wrote:According to the Athletic, Radz tried to use Elland Road as collateral to secure a loan to buy Sampdoria. That's the final bridge burned for me, get him out!
Thankfully, it doesn't seem like the loan went through and the funds were secured by other means. However, the Leeds board, including Kinnear, the 49ers, and even the Aser CEO weren't told.
Honestly, if I were the 49ers, I'd be selling up.
The guy is an absolute disgrace, to even propose it is an outrage. It could have destroyed any potential takeover and could put off future owners as they could potentially not own the ground.
Yep, absolutely. I didn't realise Leeds don't actually own the ground either, Radrizanni does (71%) of it via his own company. It is absolutely staggering he has proposed to use the ground as security.... if Sampdoria went bust, a third party would own the ground. He did this without consulting any of the board or the 49ers who own 29% of the ground. He is totally out of his depth and absolute chancer.
It is extremely negligent that Radrizanni, even with relegation a huge possibility, didn't negotiate and agree a price if Leeds went down. It's very symbolic of the last 2 shambolic years. If he wanted to stay in charge for one more year, then why not say and be clear about it so there is stability.
In other news a new manager will be announced in the coming weeks which is nice... it's not urgent at all...
What I find strange is how did the 49ers not know Radz tried to use the ground as collateral when they own a significant portion of it? Surely, they would have to agree for the charge to be made against the ground?
I wouldn't be surprised if getting the loan would have meant the 49ers being notified of it, so Radz then backed out of it to try and keep it underwraps.
I also wouldn't be surprised if th 49ers were the ones who leaked it to the Athletic. With Radz's bridges now completly burned with the fans, and his position being about as untenable as it gets, it probably puts extra pressure on Radz to sell.
It tells you a lot about the man and how out of his depth he is. He has acted alone here when he simply should not have done. Graham Smyth was saying yesterday that the 49ers wanted the deal done by the weekend. This possibly delays this but lets see. if it does delay matters, yet again Radrizannis actions negatively impact the club.
Joined: Aug 15 2006 Posts: 9210 Location: NOT in "Crying Corner" on the SWMC Coach
Delays at this stage could be critical. The fact Radz didn't tell ANYONE that he was prepared to leverage the ground is baffling and infuriating, with a buyer in the wings who probably want a sale agreed and him out of the way this is a really poor show.
Also Big Sam not staying. Not that Im surprised.
BELIEVE. BELIEF. BEYOND.
IT AIN'T WHERE YOUR FROM, ITS WHERE YOUR AT.
SWMC Coach's very own timekeeping aficionado & expert stair inspector.
Its treating the club and its fans with utter contempt. He needs to sell the club yesterday! There is not a cat in hells chance we are going up next season if this drags on another week or two.
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