Times Online - Sport
Richmond claims opposition to takeover is racist
BY RICK BROADBENT
AT A club that has set the benchmark for PR gaffes, it was perhaps no surprise to find talk of a Leeds United rescue package being sullied by allegations of racism and a smear campaign.
Just 48 hours before the meeting that could finalise the £22 million takeover of the club, the gloves came off. Geoffrey Richmond was the man throwing the punches. He claims that his role as an adviser to the Yorkshire-based consortium seeking to take control of the club has been the subject of whispers, sneers and slander. He hinted that he believed that this was because of his Jewish background, rather than the vivid memory of him leading Bradford City into administration with a £36 million debt.
Richmond’s comments came after the Yorkshire Post ran a story stating that he still owed the taxman £2.3 million. The debt related to the sale of Ronson lighters in 1994 and resulted in the Inland Revenue securing a High Court settlement against Richmond and another director last year. Richmond suggested that the story had been dug up in an attempt to derail the takeover of Leeds. “Tax avoidance is common,” he said. “Why this has raised its head again at a time when it could have a destabilising effect on the deal is concerning. If this does prove to be the case, then I have no doubt that Leeds will go into administration, hundreds of jobs will be lost and the club may well go out of existence.”
The media has focused on the dividends that Richmond and his company took out of Bradford while he was chairman, while supporters’ groups have stated their concern about his involvement, even though he has emphasised that he will not become a shareholder or director. The consortium has also been unable to give a guarantee that it will not sell Elland Road.
Richmond believes that the coverage of the takeover has had a sinister vein. “Right from the beginning there has been a smear campaign in certain sections of the media, which also, in our view, has racial overtones,” he said. “The consortium was initially described as being made up from the Jewish community, which caused great offence because it’s unlikely a consortium of any other religion or faith would have been described in such terms.”
Jack Petchey, a property developer, is believed to be funding the deal, but Richmond, whose son, David, is thought to be part of the consortium, claimed its members are risking £10 million of their own money. He denied that the group is only interested in asset-stripping. “To suggest that anyone can make a quick killing from the club is ludicrous considering the amount of debt,” Richmond said.
The holders of the club’s bond are understood to have accepted the consortium’s terms. Their representatives, and Registered European Football Finance, the player-leasing agents, gathered in Leeds yesterday. Tomorrow is seen as the day of reckoning.
Richmond claims opposition to takeover is racist
BY RICK BROADBENT
AT A club that has set the benchmark for PR gaffes, it was perhaps no surprise to find talk of a Leeds United rescue package being sullied by allegations of racism and a smear campaign.
Just 48 hours before the meeting that could finalise the £22 million takeover of the club, the gloves came off. Geoffrey Richmond was the man throwing the punches. He claims that his role as an adviser to the Yorkshire-based consortium seeking to take control of the club has been the subject of whispers, sneers and slander. He hinted that he believed that this was because of his Jewish background, rather than the vivid memory of him leading Bradford City into administration with a £36 million debt.
Richmond’s comments came after the Yorkshire Post ran a story stating that he still owed the taxman £2.3 million. The debt related to the sale of Ronson lighters in 1994 and resulted in the Inland Revenue securing a High Court settlement against Richmond and another director last year. Richmond suggested that the story had been dug up in an attempt to derail the takeover of Leeds. “Tax avoidance is common,” he said. “Why this has raised its head again at a time when it could have a destabilising effect on the deal is concerning. If this does prove to be the case, then I have no doubt that Leeds will go into administration, hundreds of jobs will be lost and the club may well go out of existence.”
The media has focused on the dividends that Richmond and his company took out of Bradford while he was chairman, while supporters’ groups have stated their concern about his involvement, even though he has emphasised that he will not become a shareholder or director. The consortium has also been unable to give a guarantee that it will not sell Elland Road.
Richmond believes that the coverage of the takeover has had a sinister vein. “Right from the beginning there has been a smear campaign in certain sections of the media, which also, in our view, has racial overtones,” he said. “The consortium was initially described as being made up from the Jewish community, which caused great offence because it’s unlikely a consortium of any other religion or faith would have been described in such terms.”
Jack Petchey, a property developer, is believed to be funding the deal, but Richmond, whose son, David, is thought to be part of the consortium, claimed its members are risking £10 million of their own money. He denied that the group is only interested in asset-stripping. “To suggest that anyone can make a quick killing from the club is ludicrous considering the amount of debt,” Richmond said.
The holders of the club’s bond are understood to have accepted the consortium’s terms. Their representatives, and Registered European Football Finance, the player-leasing agents, gathered in Leeds yesterday. Tomorrow is seen as the day of reckoning.
