Leeds - what happens now - the options.....

By Andy Baggott
January 21 2004

We have got three chances of surviving administration until the end of the season. Once the season ends, we will have a clearer picture of where we are.

If we stay up, there’s a good chance that we will attract enough funding to keep afloat. If we are relegated, we are in big trouble. Administration would be almost certain, and the majority of our players will go. This is of course, barring a Abrahamovic style takeover by some tycoon (ie the Sheiks consortium). Trevor Birch is looking at 3 ways to raise the £5 million that is needed to tide us over.

Option one is investment. Allan Leighton and friends, or some other group, stump up £5 million to keep the club solvent until our Premiership fate is known. This is the preferred option, but the hardest to achieve.

Option 2 is the much discussed wage deferrals. This would save the club in the region of £3.5 – to £5 million on a 30% deferral. The players are wary, and it could cause a big split in the camp. If stories are to be believed, the likes of smith, Viduka and Robinson are willing to, but there is a band of players that are not. This group is rumoured to be led by Batty, but as he is the players rep, it is more likely that he is looking at the offer from all angles. Although a lot of the players are highly paid, some are not. If some of the youngsters lost 30% it could be difficult (mortgages to pay etc). There is also the fact that most of the players are investing heavily in their futures, and are committed to paying a set sum each week into special accounts. The final sticking point is believed to be the future of the club. The players need assurances that there will still be a Leeds Utd come May. If the club goes into administration before then, or worse, the players could lose hundreds of thousands each if they don’t get paid the missing money. The mini statement released last night seems to indicate that the players would agree to this as a last resort – and it may come to that.

The third option is perhaps the easiest, and that is to sell players. The sale of Smith lone would probably generate enough to see us through. However, Birch knows that selling the best players will make Premiership safety more difficult, and therefore, administration at the end of the season more likely.

The picture should become a little clearer over the next couple of weeks, but, barring a huge takeover, it will be the end of the season before we have any real idea what the future holds..