Former Newcastle United chairman Freddy Shepherd, is apparently considering a bid to buy Leeds United.
Shepherd made more than Â£37M by selling the Shepherd family’s 28% stake in Newcastle United to new billionaire owner Mike Ashley. It’s been said that Freddy is missing the day to day excitement of running a big club.
Certainly he would seem to have the funds to buy Leeds United, which has a great brand name in English Football.
Freddy Shepherd - considering a bid to buy Leeds United Football Club
Certainly we think the purchase of Leeds United by Shepherd could be a good deal. Generally in business you look for a good brand name and if it’s in trouble that’s usually a good time to buy. Leeds United has been one of the top clubs in England since Don Revie became manager 40 years or so ago. It is now struggling big time but that’s only indicative of a good time to buy.
We think with Freddy’s experience of being the chairman of Newcastle United over the last 10 years he would have a good chance of getting the club back into the Premiership and if he can do that he’ll make a killing on the deal.
Ken Bates, the former Chelsea chairman now owns Leeds United and he has already held some discussions with Freddy and these are reported to be at an advanced stage. Shepherd and Bates were reportedly spotted dining together in Newcastle last week.
There are some complications with the deal. Apparently the old football club company, Leeds United Association Football Club Ltd, will be taken from administration into liquidation, probably by administrators KPMG. The funds received from Bates for the club will then be used to pay off non-football creditors at a reported rate of 11p in the pound. Then the club, under the new name of Leeds United 2007 Ltd, a company in which Bates, Shaun Harvey and Mark Taylor are all directors, will be allowed to re-apply for full membership of the Football Association. Presumably once this is all completed, a bid from Shepherd can be officially lodged.
So it may take a little while but on paper it looks like it may be a good place for Shepherd to put some of his millions, if he can get the club at a decent price. One last thing – you have to wonder if Shepherd was involved in getting Paul Huntington to Leeds United in any – an interesting thought.