Leeds saviour Bates ready for ‘one more challenge’
Bates, under the guise of a Geneva-based company known as The Forward Sports Fund, has bought a 50% stake in Leeds for a figure understood to be £10million just 10 months after his long-standing love affair with Chelsea came to an end.
The deal took four days to complete after Bates approached the outgoing board on Monday, with the takeover finalised at 2.27am yesterday.
Bates has made an instant impact as an overdue £1.2m instalment owed to the Inland Revenue as part of an existing £3.5m debt, and which was deferred last month due to the club’s ongoing financial plight, has been paid.
When asked the reason behind his takeover, Bates replied: “What else is there to do?
“I’ve done it with Chelsea and I want one more challenge and I think this is it. We will find out if it’s successful or not.”
Bates, 73, has already won over sceptical Leeds fans by insisting Elland Road and the Thorp Arch training complex will be bought back “in due course” after they were sold last year to ease debts.
Bates maintains the club can now mount a push for promotion, with manager Kevin Blackwell to be given every chance to prove himself.
“We will stabilise everything,” insisted Bates. “The previous board have done a fantastic job in keeping the club afloat when all the laws of finance say they should have gone.
“But now we will stabilise the team and the finances for Leeds to be comfortable in the Championship, with the play-offs a bonus. I’m not quite sure if it’s realistic.
“I certainly wouldn’t like to get promoted this year. If you go up too soon, you more than likely come down again.
“I would think we could get promotion in the next couple of seasons, beyond this season, and then establish ourselves in the Premiership and aim for a top-six place and get back into Europe. We will now look to do it slower, be more realistic and lay more solid foundations.”
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