48756c6c20 524c4643 wrote:How is Caddick a benefactor? Yup, he's written large sums off but he/his company have returned large sums from Leeds and the cricket side also. Writing debts off to offset tax makes it a neutral cost doesn't it, ergo no actual 'loss', so isn't a true benefactor.
Just to be clear, Caddick has never written any sums off with Leeds - he put some several £m in as a loan when he first took over back in '96 but that was all repaid by about 2005. Over the years since then Leeds had several millions in the bank ready to spend on ground improvements and have, if anything, being lending the Caddick Group money rather than the other way around. Obviously that's no longer the case and Caddick has had to put money in as a loan during the pandemic - but again it's unlikely he'd not want it back either when he sells up or when the club can afford to.
"Brian McDermott, with a wry smile, nods when asked if he remembers a specific incident which made him realise he was a prick. 'I do', he murmurs."
The Ghost of '99 wrote:Just to be clear, Caddick has never written any sums off with Leeds - he put some several £m in as a loan when he first took over back in '96 but that was all repaid by about 2005. Over the years since then Leeds had several millions in the bank ready to spend on ground improvements and have, if anything, being lending the Caddick Group money rather than the other way around. Obviously that's no longer the case and Caddick has had to put money in as a loan during the pandemic - but again it's unlikely he'd not want it back either when he sells up or when the club can afford to.
This was a quote by Caddick, "Throughout the past 20 years the Caddick Group, in partnership with its associated companies, have written off over £18m of accumulated debt to leave the Leeds Rhinos now in a strong positive cash flow position.” as I said, I know he isn't a benefactor for Leeds, whatever the actual financials I knew he'd be getting it back one way or the other.
48756c6c20 524c4643 wrote:This was a quote by Caddick, "Throughout the past 20 years the Caddick Group, in partnership with its associated companies, have written off over £18m of accumulated debt to leave the Leeds Rhinos now in a strong positive cash flow position.” as I said, I know he isn't a benefactor for Leeds, whatever the actual financials I knew he'd be getting it back one way or the other.
Where is that quote from? (not disagreeing, just interested)
48756c6c20 524c4643 wrote:This was a quote by Caddick, "Throughout the past 20 years the Caddick Group, in partnership with its associated companies, have written off over £18m of accumulated debt to leave the Leeds Rhinos now in a strong positive cash flow position.” as I said, I know he isn't a benefactor for Leeds, whatever the actual financials I knew he'd be getting it back one way or the other.
It's definitively not true. The money he wrote off was when he was propping up the rugby union club which is an entirely separate business and company; I've read every set of accounts for Leeds going back 30 years and he's never written off loans to Leeds.
"Brian McDermott, with a wry smile, nods when asked if he remembers a specific incident which made him realise he was a prick. 'I do', he murmurs."
Joined: Jul 15 2005 Posts: 29811 Location: West Yorkshire
The Ghost of '99 wrote:It's definitively not true. The money he wrote off was when he was propping up the rugby union club which is an entirely separate business and company; I've read every set of accounts for Leeds going back 30 years and he's never written off loans to Leeds.
Do you mean Leeds Cricket Football and Athletic Company Limited?
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