Viduka’s Quartet is pleased to announce that T-Shirts are now available to buy from redbubble.com. The shirts, which have been specially designed, pay homage to Mark Viduka’s 4th goal against Liverpool. The quote is also one of the best known in Leeds’ recent history.
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IIB-Bahrian, the Bahrain based bank which owns a stake in Leeds United, have released financial results for the 6 months up to June 30th.
The bank has revealed a year-on-year increase in quarterly income, but the first six months of this year has seen a downturn in income, compared to the first six months of 2012. Net profit has also decreased to around $240,000.Just over $1,000,000 has been added to the companies total assets between December and June of this year.
So does this have any effect on Leeds? For a start, we know that IIB originally purchased 10% of LUFC after the turn of the year, paying £2.5 million. The recent ownership statement read that IIB now own more than they originally bought. This is in line with what was said in IIB’s annual report. Aabed Al-Zeera, who is a director of Leeds City Holdings and also Chief Executive at IIB, suggested that the companies shareholders would see LUFC as an “attractive investment opportunity” once GFH had solidified the football club’s financial position. Now GFH have streamlined Leeds into a more amicable financial future, investors will be more keen to buy into Leeds.
The intentions of IIB increasing their stake in Leeds United seems to be profit driven, as well as a need for diversification within the companies portfolio. This diversification is central to the bank’s strategy to reducing its credit risks. As stated in the company’s additional public disclosures document, to “avoid excessive concentrations of risk, the Bank’s policies and procedures include guidelines to maintain a diversified portfolio.” Clearly then, the bank is maintaining a stake in LUFC to help diversify against it’s competitors in Bahrain and the Middle East.
Scott Wootton in action against CFR Cluj
Leeds United confirmed last night that Manchester United defender Scott Wootton has joined the club on a three-year contract, for an undisclosed fee.
The deal is thought to involve an upfront fee, with various clauses which could increase the price Leeds pay for the 21 year-old. Wootton has made an appearance in the Champions League and the League cup for Man United, and he has also enjoyed spells at Peterborough, Nottingham Forest and Tranmere Rovers. Last night, Leeds boss Brian McDermott was delighted to land a player he has been tracking since the beginning of the summer. Owners GFH-Capital have been shrewd in the market this summer, but this signing is in line with what the owners envisaged; players who will only get better. Wootton is still young and has a lot to learn, but if McDermott’s signings are anything to go by, he will be hungry to improve his game.
The so called “one in one out” strategy implemented to reduce the wage bill at Elland Road looks to have been sidelined for this particular deal. Wootton will by no means be the highest earner at the club, as he was on a month-by-month contract. The player joins a squad in need of defensive reinforcements, and as Wootton can also play across the defensive line, his versatility will prove a big asset.
Here at Viduka’s Quartet, we’re looking to engage with the amazing LUFC fan base. As part of a special set of articles, we want you to tell us about your favourite Leeds game from the past 25 years. it can be for any reason whatsoever, maybe it was your first game? A wonder goal perhaps? Or maybe it was an important result for the mighty whites. Simply send us an email or Direct Message @jakerleedsblog on Twitter and your chosen game could be used in a future article.
Email me: jake.ross1@mail.com
It’s 3 games into the new season and already manager Brian McDermott has a selection dilemma on his hands…what to do with Dom Poleon?
It’s been no secret since the end of last season that the new boss is an admirer of Leeds’ latest young hotshot. After the stunning win at Watford, McDermott hailed Poleon as a “real asset” for the season ahead. It seems he was right. Dom has had a stellar pre-season, netting more times than any other striker on the wage bill at Elland Road. Against Brighton he was used as an impact substitute, along with new signing Matt Smith. Both played a vital role in turning the game in Leeds’ favour. Poleon hassles and runs at defenders, he also has something the team still lacks, pace. On Sunday against a star-studded Leicester team, he showed more creativity than any other in the final third. Surely then, his recent performances warrant a first-team start?
New boy Noel Hunt takes up the role that Poleon would take if he were to start. Although he hasn’t caught the eye with scintillating performances or a stack full of goals, he works very hard to create chances. To me, Hunt seems to be more of a poacher when it comes to goals, whereas Poleon works opportunities for himself. However, a fan rightly suggested to me on twitter, that defenders would rather be facing Hunt than Poleon at the moment.
It would seem that young Dom could well earn a start against Yorkshire rivals Sheffield Wednesday. However, it seems McDermott will stick by Hunt for now, and use Poleon from the bench. Last season the squad lacked depth, and at times when a game needed changing, there was nobody on the bench to do that. Poleon fills that gap. We also have to remember that Dom is still very young, his game suits the impact role, where he can run at tired defenders and cause problems.
So is Dominic Poleon best used as an impact sub, or is he a 90-minute man? Have your say here:
Leeds United owners GFH have revealed financial results in the 6 months up to June 30th. The statement to the Bahrain Bourse revealed a year-on-year downturn in profit, but the company has still made a total of $4.2 million in 2013 so far.
Company acting CEO Hisham Al Rayes, also on the board at LUFC, stated that in Q2, GFH were successful in attracting more Strategic investors alongside GFH themselves, in Leeds United. No specific names have been given, and will most likely remain disclosed due to company regulations and confidentiality. The investors have come through GFH, so seemingly, no shares of Leeds City Holdings have been sold. The money raised from investors is likely to have been directed towards running costs rather than transfer fees.
Other interesting pieces of news in the financial results come in the form of assets held for sale. As of January 1st, over $82 million worth of assets were held for sale. This has now significantly reduced, now at only $22 million. Part of this reduction has been due to a subsidiary bank merging with another bank in the gulf region, but, as has previously been the case, LUFC has been held for sale since its acquisition.
So why has the apparent value of LUFC significantly reduced? There are possible answers to this. Firstly, GFH may now see Leeds United as more of a long-term investment rather than a short-term flip, and want to retain a greater stake than first envisaged. As GFH have already injected significant funds into LUFC, the company will want to maximise profits when the club return to the Premier League. Holding a greater share in the club will obviously give them the opportunity to reap greater financial reward in the medium/long-term. GFH may only have shuffled the value of LUFC away from its assets “held for sale.”
However, the financial statement could also suggest that a large stake in Leeds has been sold during Q2. There has been recent speculation that an investment deal has been struck which involves the re-purchase of Elland Road. As the buy-back value of the stadium stands at £15 million, any deal could involve a significant share sale. It is unknown how close or indeed how much the investment deal is worth on top of the Elland Road purchase.
Leeds United are being linked with Newcastle Jets star Craig Goodwin. The winger, who is poised to make his first international appearance for the socceroos, is thought to be interesting English clubs. Last year Goodwin was on trial with Reading, but relegation to the championship halted contract talks. McDermott is known to be an admirer of the player, and Goodwin could fill a sizeable gap in the Leeds squad, with only one out-and-out winger in the team, Ryan Hall. Australian news sites are picking up on English interest in Goodwin, so a move could well be on the cards for the talented Aussie winger.
Finances still seem to be tight at Elland Road, and McDermott is looking to offload fringe players to make way for new recruits. This policy has frustrated many fans, but transfer activity seems to continue behind the scenes. Club Managing Director David Haigh has held talks with McDermott since coming back from Slovenia, and it seems the club are striving to make deals happen, although it is proving difficult shifting unwanted players.
Players such as Danny Pugh and Jason Pearce are tentatively being linked with moves away from Elland Road, although nothing concrete has happened to date. Leeds need to act fast if they want prime targets in before the start of the season.
It has emerged this morning that Leeds united have made an enquiry for Bolton Wanderers central defender Matt Mills
The player is thought to be available after Boss Dougie Freedman sealed a deal for Striker Jemaine Beckford. Mills’ 25k a week contract is thought to be surplus to requirements, to try and balance the books after the Beckford deal. It remains to be seen whether Mills is the long term target that boss Brian McDermott has been tracking for weeks. An enquiry for Mills could also mean that any other deal for a defender has fallen through.
Meanwhile, news has broke today that talks have taken place between Leeds and drinks company Red Bull regarding a major sponsorship deal. It is rumoured that a stadium name change is on the cards. Red Bull would provide a significant increase in club revenue, which would have a big effect on FFP regulations. In a similar way to the likes of Manchester City and Arsenal, big sponsorship agreements mean the club can techically afford to live within their means. Any deal with Red Bull would be a first in English football, although the company actually own clubs such as the NY Red Bulls and Red Bull Salzburg. Much has been made about how Red Bull has ruined the tradition of football clubs by changing almost everything to suit the company rather than the club. It seems, however, that GFH Capital remain the dominant party in negotiations. GFHC have been looking for outside investment since aquiring Leeds to finance deals to buy back Elland Road and Thorp Arch. Red Bull have the means to support GFH Capital in any possible buy-back, with naming rights a possible wager in the deal. It seems Leeds’ owners are thinking big with the future of Leeds United. More recent sponsorships such as Bet 365 and Enterprise Insurance will not offer anywhere near the amount of exposure that Red Bull can offer, let alone the cash. Until more details emerge regarding the true nature of negotiations, it currently seems that Red Bull have no intention of wholly owning Leeds United, but rather a high value sponsorship agreement.
The tour of Slovenia has both improved fitness and togetherness in a squad that still needs a little more work.
The searing heat has provided the squad with a difficult test on the training ground, with McDermott putting his players through their paces. The games themselves act as more of a fitness test rather than a win or bust situation, but the players have reacted in a professional way. Balancing the mindset of winning matches and improving fitness is something that is difficult to achieve, but when Leeds lost in the dying minutes on saturday against a match fit side, McDermott offered no excuses.
Fans find it difficult to watch their team lose, whether it be a pre-season game or a play-off final. McDermott is no different to that. The team he fielded in the final 30 minutes against FC Domzale leaked two goals which cost the match. After the game, McDermott revealed he had kept the players in the dressing room for longer, to drill in the idea that winning needs to become “a sin.” many previous managers of Leeds would agree, none more so than Neil Warnock. Should we read into pre-season results as a gauge for the season ahead?
Pre-season often has little effect on the season ahead. The players themselves would like to knock in a couple of goals, and get back to high fitness levels. What is less important, is an actual result, when in reality, it doesn’t matter. None the less, McDermott sees games where his team lose as a talking point, an area to focus on to get things right. In the championship, the teams that go up seem to be able to win games when really they shouldn’t. Cardiff are a prime example.
When the team fly home back to Leeds, there will be work to be done in the transfer market. McDermott remains bullish about a long term target of his, his identity still a secret. The boss will be meeting with club owners to try force through a deal, but it’s not just incomings on McDermott’s mind. Players need to be moved on from the wage bill, and players such as Danny Pugh and Michael Brown are earning a wage while (hopefully) getting nominal game time next season.
It has emerged during an interview that Leeds United owners GFH Capital remain committed to securing investment, while relinquishing a majority stake.
Hisham Al Reyes remains confident that GFH will retain a minority stake which still gives them power in the boardroom. GFH also stated in the interview that new investment will not only come directly, but also through GFH themselves.
News has been scarce in recent weeks regarding investment, although it is widely thought that extra funds came in through GFH investors, to finance the significant singing of Luke Murphy. What is unknown, however, is who or which companies plan on purchasing a stake in LUFC.
In other news, boss Brian McDermott remains confident that he will secure a long term target, but only after he and the squad return from Slovenia. The target, unknown to most if not all of the media, is likely to be of high importance to McDermott’s plans. The fact that McDermott remains bullish on the prospects of signing the player, means that the fans will only have to wait a little longer, for what is seen as an important deal for both club, and manager.
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