BusinessBusiness RecoveryKPMG: Leeds announcement ‘unlikely’ today

KPMG: Leeds announcement 'unlikely' today

KPMG does not expect an announcement on the future of Leeds today, depsite reports that noon would see a conclusion as to which bidder had won control of the club

breaking news

The future of Leeds United is now not expected to be announced today, despite
reports that
KPMG
would reveal which bidder had won control of the
embattled football club at noon.

A KPMG spokesman said the announcement was not expected today, and it could
not give a timescale for any decision. The firm also defended itself against
reports that it had not allowed other bidders (besides Ken Bates) full access to
the club’s accounts.

Administrators from the firm have been previously criticised by MPs over
their handling of Leeds’ insolvency, and now Bates’ rival bidders have joined
in.

However, a KPMG spokesman said today: ‘We have worked within the bounds of
the law’.

He said that the administrators from the firm found themselves in a situation
that was ‘fairly unique’, where an agreed CVA proposal had then been challenged,
and they set a short deadline to receive bids to resolve the club’s future as
soon as possible.

‘We wanted to allow bids, but the risk is that it protracts reaching a
resolution and the way forward for the club.’

Further reading:

Leeds’ footballing future in doubt

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