Leeds United go into administration, relegated after being deducted 10 points

74016235.jpgLeeds United have been relegated to League One after being deducted 10 points for going into administration. The 10-point deduction means Leeds will finish the season bottom of the Championship, below Southend and Luton, the other two relegated clubs.
On the positive side, Leeds will not lose any points for the start of their first season in League One. Administrator KPMG has agreed to sell the club to a newly-formed company led by chairman Ken Bates.
From the Champions League semi final (against Valencia) in 2001, to League One in 2007 – this episode is the sorry culmination in a spectacular fall from grace. Leeds ran up huge debts between 2000 and 2003 under chairman Peter Ridsdale. Ridsdale left Leeds in April 2003, with the club more than £100m in debt. Leeds still have a huge fanbase but there is a massive rebuilding job ahead…
[Photo: Getty Images]

Posted in Transfers & Rumours

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  1. James Miller says:

    I was a large creditor of a company some years ago and it was trading insolvently. As a creditor I put the company into bankruptcy. Guess what? The administrator sold the business to the former owners at a knock down price leaving me with a large uncollectable debt. I was kept out of the bidding process by secrecy.
    It stank.
    Just like the business at Leeds does.

  2. Joe says:

    How is this still legal?