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Rhino White
According to Massimo he has told Adam Pope that we now have no major debts ,have 20m working capital (without the Mcormack money) and he has an agreement with GFH which will allow him to buy back ER!
Lets hope it all rings true & comes to fruition!
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Peter1919
Sounds good to me I just hope it is all true
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Rawdonwhite
I listened to the Cellino interview, I think some of what has been reported was lost in translation.

My take on it was that Cellino has restructured the debt owed to GFH, probably vastly reduced and on longer terms. GFH get a worthwhile and potentially appreciating asset in return.

I couldn't quite work out whether it was 20 million in the bank or 20 million from the bank, I suspect the latter in terms of a line of credit if needed. If his wealth is to believed he may even be the bank.

The thing that shone out is that he has the business by the balls and it's going to happen his way. I would not bet against this man, he's a leader, an independent thinker, a romantic and ultimately, I believe, a winner.

He talks of repurchasing the ground again. IMO he needed to sort things out with GFH before doing this. I suspect he has done that and the ground will be bought back very soon. I'd like him to rename the ground "Elland Road Home of Leeds Utd" and make pundits and Sky journos use it's full name - like they have to with "The Alfred McAlpine Stadium" etc. and in so doing producing a wholesome contrast to some of the soulless franchise naming that goes on.

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lubyvader
I'd like to see him buy out GFH and lets be rid of em permanently they are still there and after what happened under them I wish they would go but suppose that won't happen but if its MC that calls the shots then suppose thats better than we had still unsure about him though there was so much hot air and ridiculous actions with him but benefit of doubt and all that and if we do improve and our club becomes what it was under him then I shall get behind him a zillion percent but for now jury with me is still out


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Catfood_1072
Great post RW, he certainly convinces me he as a leader and his business strategy seems to be working. 

I think that aside from 3-4 new transfers (British-based) we need him to be the leader of the players as well- think he can inspire them but it's all on him (and I suspect he'll want time in Florida and I bet he's a moody sod so he could just disappear for a month). The risk is things all seem to depend on him, Abramovitch has a succession of the world's best managers - err he doesn't!
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   [$(KGrHqR,!l!E2ER!OjccBNtqUKK++g~~_35]  one of the greats
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Skygod
I remember MC saying that he had no problem with the Bahraini who he considered to be a good businessman (Nooruddin I assume), but he wanted to know if they were to be partners or investors.

With Nooruddin having both a personal stake and a diluted stake through his share ownership of GFH, he's the main guy in the GFH 'camp'. If GFH convert some of their debt into equity, MC would need to match this with three times as much from his own pocket. This would provide ample funding to purchase ER and start looking into TA alternatives.

Irrespective, when MC tookover, he owned 75% of nothing and GFH had 25% of nothing, so just making the business self sustaining will improve the value of the investment for both of them.

One benefit of the way the Management of the Club seems to be going is that the Manager at least won't have a 'dust-up' with the board.
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