What Ken Said – 06.10.12 – Don’t Blame Me
Square Ball 6/10/12
By Fax Man
Taken from the end of Yorkshire Radio’s interview with Leeds United’s current owner Ken Bates today…
Ben Fry: Chairman, can we finish with an update on the investment? Is there anything you can tell us?
Ken Bates: Well I’d like to Ben but as I’ve said before the confidentiality agreement, which seems to be a bit one-sided, it makes it difficult to say anything. Of course the stuff that’s coming out now from the Gulf, some from GFH itself but a lot more from the fringe and the press and the media out there, is a little bit confusing. The real problem is, I think their lawyers – because this is pretty straightforward deal by anybody’s standards, and I’ve done 100s of deals in my time – and I don’t know what the delay is. The problem to me is they appear to be making complications when there’s no need to do so. I understand the share purchase is 171 pages long. I don’t know what they’ve put in it and they’re moving at a very slow rate. And I question whether they realise that they’re not acting in their clients’ best interests. I know GFH want to complete a deal and we are happy to do a deal with them but when last minute extra things are slipped in, it makes things difficult because you think that’s not in the heads of terms so why is it in? They can’t give you an answer and I think, as is the case with lawyers, they do act on their own initiative rather than just following up their clients’ instructions. I did a deal on another matter last week – nothing to do with Leeds United – and the whole thing was reduced to one sheet of paper once we knew what we were doing and that was it. It went to the lawyers, the sheet came back two days later and it had been signed. By GFH’s standard’s this isn’t a very big deal and I don’t know what the delay is. All I can say to the fans is… don’t blame me!
Taken from the end of Yorkshire Radio’s interview with Leeds United’s current owner Ken Bates today…
Ben Fry: Chairman, can we finish with an update on the investment? Is there anything you can tell us?
Ken Bates: Well I’d like to Ben but as I’ve said before the confidentiality agreement, which seems to be a bit one-sided, it makes it difficult to say anything. Of course the stuff that’s coming out now from the Gulf, some from GFH itself but a lot more from the fringe and the press and the media out there, is a little bit confusing. The real problem is, I think their lawyers – because this is pretty straightforward deal by anybody’s standards, and I’ve done 100s of deals in my time – and I don’t know what the delay is. The problem to me is they appear to be making complications when there’s no need to do so. I understand the share purchase is 171 pages long. I don’t know what they’ve put in it and they’re moving at a very slow rate. And I question whether they realise that they’re not acting in their clients’ best interests. I know GFH want to complete a deal and we are happy to do a deal with them but when last minute extra things are slipped in, it makes things difficult because you think that’s not in the heads of terms so why is it in? They can’t give you an answer and I think, as is the case with lawyers, they do act on their own initiative rather than just following up their clients’ instructions. I did a deal on another matter last week – nothing to do with Leeds United – and the whole thing was reduced to one sheet of paper once we knew what we were doing and that was it. It went to the lawyers, the sheet came back two days later and it had been signed. By GFH’s standard’s this isn’t a very big deal and I don’t know what the delay is. All I can say to the fans is… don’t blame me!