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Intro Video

THIS IS WHY WE LOVE LEEDS UNITED

Luck
is when

preparation
meets

opportunity

Agenda
1.Introduction
2.Financial status of Leeds United
3.Our Plans
4.What does Sniffer think?
5.Breakout into smaller groups
6.How to implement our plans

How we got here.


Founding 15 range of views,
unknowns, no agenda, no cliques, no
leader. Just listening.
Profiles in your pack.
We agreed on
Need for fan ownership
Need to get back the Family feel
Recovering the lost generation
This could be the last chance to save
LUFC

So what happened?
As Leeds fans what choice did we have?
To see the problem and walk away?
Or Keep Fighting?
I agreed to lead it for 4 weeks and see what we
could achieve
Why me?

Research & Organisation

30,000 email exchanges


Thousands of interactions on social media
Dozens of meetings
Hundreds of offers of assistance
Legal and Financial
For Marketing and Administration
From Ex players and coaches
From inside LUFC
From inside GFH
From Fan Groups and Politicians
From across the Globe The Gulf to USA
From a number of wealthy Leeds Fans

Pledges
We asked the first 50 people who
signed up to this meeting what they
would be prepared to pledge.

250,000

Our View
To give fans a voice we need to bring
a stack of chips to the poker table.
FC United raised 3m so what
would Leeds United raise?
Target 10m, but we will have impact
with as little as 5m

Our Plans - Objectives


To get fan representation and
ownership of at least some of Leeds
United.
The fan representation to be both
wide based and influential.
To be flexible enough to work alone
or with like minded rich Leeds fans
To be flexible enough to be impactful
in any scenario

Financial Status
2011
2012
Turnover m
25
Admin Costs m
Interest m
Profit after tax
(22.5)

2013
32

26
0

2014
31

29
0.1

3.5

0.3

29

35

37

1.2

2.1
(9.6)

Financial Status
2011

2012

Wage/Turnover %
Transfers Net +/- 0

2013

2014

51

57

3.7

70

3.9

*75% seen as sustainable. Championship average 110%

0.4

89*

Financial Status
2010

2011

2012

2013

2014
Debt m
42

16

21

32

Financial Status
This club doesnt have a financial issue
if properly managed.
We need to be rid of owner imposed
debt
Financial Fair Play should help us.

Value of Leeds United


GFHs own calculation

-7m
Variables
League 1 or EPL
Debt for equity
Forced sale
Related issues
Administration

Our Plans - Objectives


To get fan representation and
ownership of at least some of Leeds
United.
The fan representation to be both
wide based and influential.
To be flexible enough to work alone
or with like minded rich Leeds fans
To be flexible enough to be impactful
in any scenario

Our Plans
Rejected Ideas

Buy straight into LUFC


German models 4 types
Spanish models
Supporters Direct Models
Industrial & Provident
Community Benefit Society
Community Interest Company

Private Limited Company


Public Limited Company (PLC)

Our Plans
Proposed Solution
Form a Limited Liability Partnership
(LLP)
Create 100,000 stakes of 100 =
10m
Maximum purchase 1000 stakes at
100,000
Supporter Organisations max 5000
stakes at 500,000
This is broad based but raises
significant sums of money

Target Investment Profile

16000 x 100 = 1.6m


3000 x 500 = 1.5m
1000 x 1000 = 1m
200 x 5000 = 1m
40 x 20,000 = 0.8m
16 x 100,000 = 1.6m

Total = 7.5m

VIDEO 2

Surprise Guest Video

Allan Clarke

Breakout Groups
Don Revie (pre-1975) Ashley Tabony
Doldrums (1976 87)

Robert Endeacott

Howard Wilkinson (1988-96)


McAllister

Mark

OLeary to now (1997 now)

Danny Jowett

Online

Petter-Andre

Next Steps
Form a 7 person Exec to implement
plans
Recruit a shadow network of helpers
and advisers.
Immediate tasks
Approach potential sellers
Meet with fellow rich Leeds Fan funders
Create LLP
Begin Mass Membership Drive

Exec Roles To Be Filled


Project Leader M&A experience, visionary and
organisational skills
Financial M&A experience, LLP knowledge
Legal M&A, insolvency and LLP knowledge
Fundraiser Able to raise funds amongst rich &
poor Leeds fans
Negotiator M&A experience
Marketing & PR Control our message on and off
line.
Infrastructure enable the project through
technology

Legal Status of Leeds United


Cellino 75% with right to drag GFH along.
GFH Control 25% but own only 10.5% Cellino has
1st refusal but cant action until April 11th

GFH affiliates IIB (7.5%), Nooruddin (7%). If they


want to sell, need GFH approval and Cellino has 1 st
refusal

GFH - could potentially sell the whole club from


under Cellino now he has failed the owners test. Legal
challenge?

Administration- ownership depends on 6m non


GFH/Cellino debt holders.

GFH Dossier
Reasons GFH may want to sell LUFC
1. Share Price Decline
2. Reputational Damage
1. Iranian Money Allegations
2. Use of Client Funds Allegations
3. David Haigh Embarrassment

3. Shareholder Revolt
4. Reputational Damage to Bahraini Royal
Family

GFH Dossier
Reputation risk is the risk that
negative perception regarding the
Banks business practices or internal
controls, whether true or not, will
cause a decline in the Banks investor
base, lead to costly litigation that
could have an adverse impact on
liquidity or capital of the Bank. Being
an Islamic Investment Bank, reputation
is an important asset

So are we ready to make some


luck?
Pledge to help as an Exec or in the shadow
network
Invest your money as soon as we have mass
membership set up.
Encourage others to do likewise
Be ready to battle GFH if they reject our ideas
And finally..

Keep Fighting!

Video
[Insert same 10 minutes start video]