Leedsunited.com 31/8/07
LATE DEALS
Portuguese left winger Filipe Da Costa became Dennis Wise's third capture on deadline day when he put pen to paper on an initial one-year deal with the club late on Friday night.
Filipe has joined United from Ionokis and joins fellow deadline day signings Paul Huntington and Alan Martin at the club.
However, Gylfi Einarsson left the club on Friday evening and is now a free agent.
The Icelandic international parted company with the club after making 25 appearances in almost two years.
The midfielder, who is currently recovering from injury, scored his only goal for the club at Burnley in early 2005 on his second appearance.
He made his debut in January 2005 after originally joining from Lillestrom in November 2004.
DEFENDER SIGNS
Newcastle United central defender Paul Huntington has joined United for an undisclosed fee.
Paul becomes the second signing of transfer deadine day, following goalkeeper Alan Martin, who completed his move from Motherwell on Friday morning.
Carlisle-born Paul, who turns 20 on September 17, has featured 11 times for Newcastle United.
Paul, who won the Jackie Milburn Trophy in the summer of 2005, an award given to the most promising young players in the north east, made his Toon debut last season and scored his only goal for the club against Tottenham in January.
Highly-rated Paul started out with Newcastle's Academy - he joined up with the first team squad for their Intertoto matches in 2005 - and has represented England at under-18 level.
Paul will provide much-needed cover and competition for Rui Marques and Matt Heath at the heart of the defence.
Yorkshire Evening Post 31/8/07
Taxman pulls out of Leeds United court challenge
By Paul Robinson
Leeds United's summer of discontent took a dramatic final twist today as the taxman abandoned a legal challenge to the club's administrators.
The concerns of HM Revenue and Customs about the way accountancy firm KPMG handled United's time in administration were due to be heard at the High Court on Monday.
Today, though, the Revenue confirmed it had formally withdrawn its challenge.
However, it said it would continue to take all possible steps to secure a "fair return" on the £7.7m in tax and VAT it was owed when Leeds went into administration.
News that the legal challenge had been dropped was welcomed by Leeds United Supporters' Club chairman Ray Fell. But he also questioned the motives behind the Revenue's decision to take KPMG to court in the first place – a move which indirectly led to United being docked 15 points by the Football League.
He said: "If this challenge had never happened there would have been a lot less heartache and worry for fans. The taxman's unhappiness with KPMG related in part to the voting process used at a meeting on June 1, when United's creditors backed a company voluntary arrangement (CVA) deal to resell Leeds to chairman Ken Bates.
The CVA would have been worth just 1p-in-the-pound to creditors like the Revenue.
Its opposition prompted KPMG to scrap the CVA and put the club on the open market before again agreeing to sell to Mr Bates. That second deal could be worth as much as 52.9p-in-the-pound to creditors.
Yet the Football League claimed that, by failing to exit administration via a CVA, Leeds had breached its insolvency policy.
As a result the club began its first ever season in the third tier of English football on minus 15 points.
United have said they will appeal to the Football Association against that punishment.
Today a spokeswoman for HM Revenue and Customs said its legal challenge had become "academic" when the CVA was ditched in early July.
She would not be drawn on why it had taken the Revenue nearly two months to formally kill off the case.
The spokeswoman was unable to elaborate on what steps the taxman now intended to take regarding the money owed by United.
KPMG declined to comment.
A United spokesman said the club was "following developments with interest".
Leedsunited.com 31/8/07
KEEPER SIGNS
Leeds United have beaten off stiff competition to capture Scotland youth international goalkeeper Alan Martin.
Alan, who was at Motherwell, has signed an initial two-year deal with United.
The club have agreed to pay Motherwell an undisclosed amount of compensation.
The highly-rated 18-year-old, a member of Scotland's under-19 team, was attracting interest from several SPL clubs, but has opted to move south of the border.
Alan, who will wear the squad number 12, will provide competition for Casper Ankergren at Elland Road.
The Glasgow-born keeper's future has been the subject of speculation after he indicated a desire to leave Motherwell during the summer, and he has impressed in training with United.
The deal was completed on deadline day, and Alan said: "I'm glad it's all gone through now. I'm on top of the world to be signing for a club like Leeds. The facilities here are top class and I'm looking forward to working with the manager and coaching staff and becoming a better player."
He added: "The 15 points doesn't mean anything, it's already down to minus six, and the players here have a good chance to make history."
Yorkshire Post 31/8/07
Taxman drops Leeds Utd legal challenge
By Rob Waugh
THE dramatic saga surrounding Leeds United's financial collapse appeared to be on the verge of closure last night after the taxman formally withdrew a legal challenge to the club's administrators, KPMG.
HM Revenue and Customs (HMRC) had been due to face KPMG in the High Court on Monday after initially launching a challenge in early July to the way the administrators secured a creditors' agreement to resell the club to Ken Bates. Under the deal, creditors would have only received 1p for every pound Leeds owed them.HMRC, which was owed £7.7m when Leeds
went into administration on May 4, went to court only an hour before a 28-day deadline for creditors to challenge the controversial company voluntary arrangement (CVA) was due to pass.
As a result, KPMG responded by putting the club up for sale in a move which effectively bypassed the existing CVA. Mr Bates won the ensuing auction and has since resumed control of the club which nevertheless suffered a 15-point penalty for exiting administration outside the normal CVA procedure.
The controversial decision to put the club up for sale outside the CVA process eventually secured a better deal for creditors, who will receive an initial 11p in the pound, potentially significantly more if the club returns to the Premiership in the next ten years.
KPMG and HMRC both declined to comment last night.
Leedsunited.com 30/8/07
WISEY'S A WINNER
United boss Dennis Wise has been rewarded for a 100 per cent start to the League One campaign by being named Coca-Cola League One Manager of the Month for August.
Leeds and Leyton Orient, managed by Martin Ling, are the only two clubs in the entire league still with 100 per cent starts to the season.
Wisey has presided over United's best league start for 12 years, but said his latest accolade counted for little in the wake of the club's 15-point deduction.
"It's very nice, but it means not too much to me to be honest.," said Dennis. "The Football League? After what they've done to us this is like a little tap on the back saying 'we do apologise, here's Manager of the Month.' It's laughable isn't it when we're bottom of the league? I'd rather have my 15 points back than Manager of the Month. Nothing from the Football League this year will be going near my mantelpiece after what they've done to us. I just can't accept what they've done to us this year, but I don't want to harp on about it."
LATE DEALS
Portuguese left winger Filipe Da Costa became Dennis Wise's third capture on deadline day when he put pen to paper on an initial one-year deal with the club late on Friday night.
Filipe has joined United from Ionokis and joins fellow deadline day signings Paul Huntington and Alan Martin at the club.
However, Gylfi Einarsson left the club on Friday evening and is now a free agent.
The Icelandic international parted company with the club after making 25 appearances in almost two years.
The midfielder, who is currently recovering from injury, scored his only goal for the club at Burnley in early 2005 on his second appearance.
He made his debut in January 2005 after originally joining from Lillestrom in November 2004.
DEFENDER SIGNS
Newcastle United central defender Paul Huntington has joined United for an undisclosed fee.
Paul becomes the second signing of transfer deadine day, following goalkeeper Alan Martin, who completed his move from Motherwell on Friday morning.
Carlisle-born Paul, who turns 20 on September 17, has featured 11 times for Newcastle United.
Paul, who won the Jackie Milburn Trophy in the summer of 2005, an award given to the most promising young players in the north east, made his Toon debut last season and scored his only goal for the club against Tottenham in January.
Highly-rated Paul started out with Newcastle's Academy - he joined up with the first team squad for their Intertoto matches in 2005 - and has represented England at under-18 level.
Paul will provide much-needed cover and competition for Rui Marques and Matt Heath at the heart of the defence.
Yorkshire Evening Post 31/8/07
Taxman pulls out of Leeds United court challenge
By Paul Robinson
Leeds United's summer of discontent took a dramatic final twist today as the taxman abandoned a legal challenge to the club's administrators.
The concerns of HM Revenue and Customs about the way accountancy firm KPMG handled United's time in administration were due to be heard at the High Court on Monday.
Today, though, the Revenue confirmed it had formally withdrawn its challenge.
However, it said it would continue to take all possible steps to secure a "fair return" on the £7.7m in tax and VAT it was owed when Leeds went into administration.
News that the legal challenge had been dropped was welcomed by Leeds United Supporters' Club chairman Ray Fell. But he also questioned the motives behind the Revenue's decision to take KPMG to court in the first place – a move which indirectly led to United being docked 15 points by the Football League.
He said: "If this challenge had never happened there would have been a lot less heartache and worry for fans. The taxman's unhappiness with KPMG related in part to the voting process used at a meeting on June 1, when United's creditors backed a company voluntary arrangement (CVA) deal to resell Leeds to chairman Ken Bates.
The CVA would have been worth just 1p-in-the-pound to creditors like the Revenue.
Its opposition prompted KPMG to scrap the CVA and put the club on the open market before again agreeing to sell to Mr Bates. That second deal could be worth as much as 52.9p-in-the-pound to creditors.
Yet the Football League claimed that, by failing to exit administration via a CVA, Leeds had breached its insolvency policy.
As a result the club began its first ever season in the third tier of English football on minus 15 points.
United have said they will appeal to the Football Association against that punishment.
Today a spokeswoman for HM Revenue and Customs said its legal challenge had become "academic" when the CVA was ditched in early July.
She would not be drawn on why it had taken the Revenue nearly two months to formally kill off the case.
The spokeswoman was unable to elaborate on what steps the taxman now intended to take regarding the money owed by United.
KPMG declined to comment.
A United spokesman said the club was "following developments with interest".
Leedsunited.com 31/8/07
KEEPER SIGNS
Leeds United have beaten off stiff competition to capture Scotland youth international goalkeeper Alan Martin.
Alan, who was at Motherwell, has signed an initial two-year deal with United.
The club have agreed to pay Motherwell an undisclosed amount of compensation.
The highly-rated 18-year-old, a member of Scotland's under-19 team, was attracting interest from several SPL clubs, but has opted to move south of the border.
Alan, who will wear the squad number 12, will provide competition for Casper Ankergren at Elland Road.
The Glasgow-born keeper's future has been the subject of speculation after he indicated a desire to leave Motherwell during the summer, and he has impressed in training with United.
The deal was completed on deadline day, and Alan said: "I'm glad it's all gone through now. I'm on top of the world to be signing for a club like Leeds. The facilities here are top class and I'm looking forward to working with the manager and coaching staff and becoming a better player."
He added: "The 15 points doesn't mean anything, it's already down to minus six, and the players here have a good chance to make history."
Yorkshire Post 31/8/07
Taxman drops Leeds Utd legal challenge
By Rob Waugh
THE dramatic saga surrounding Leeds United's financial collapse appeared to be on the verge of closure last night after the taxman formally withdrew a legal challenge to the club's administrators, KPMG.
HM Revenue and Customs (HMRC) had been due to face KPMG in the High Court on Monday after initially launching a challenge in early July to the way the administrators secured a creditors' agreement to resell the club to Ken Bates. Under the deal, creditors would have only received 1p for every pound Leeds owed them.HMRC, which was owed £7.7m when Leeds
went into administration on May 4, went to court only an hour before a 28-day deadline for creditors to challenge the controversial company voluntary arrangement (CVA) was due to pass.
As a result, KPMG responded by putting the club up for sale in a move which effectively bypassed the existing CVA. Mr Bates won the ensuing auction and has since resumed control of the club which nevertheless suffered a 15-point penalty for exiting administration outside the normal CVA procedure.
The controversial decision to put the club up for sale outside the CVA process eventually secured a better deal for creditors, who will receive an initial 11p in the pound, potentially significantly more if the club returns to the Premiership in the next ten years.
KPMG and HMRC both declined to comment last night.
Leedsunited.com 30/8/07
WISEY'S A WINNER
United boss Dennis Wise has been rewarded for a 100 per cent start to the League One campaign by being named Coca-Cola League One Manager of the Month for August.
Leeds and Leyton Orient, managed by Martin Ling, are the only two clubs in the entire league still with 100 per cent starts to the season.
Wisey has presided over United's best league start for 12 years, but said his latest accolade counted for little in the wake of the club's 15-point deduction.
"It's very nice, but it means not too much to me to be honest.," said Dennis. "The Football League? After what they've done to us this is like a little tap on the back saying 'we do apologise, here's Manager of the Month.' It's laughable isn't it when we're bottom of the league? I'd rather have my 15 points back than Manager of the Month. Nothing from the Football League this year will be going near my mantelpiece after what they've done to us. I just can't accept what they've done to us this year, but I don't want to harp on about it."