Re: AP's anniversary : Wed Aug 05, 2020 9:39 am
48756c6c20 524c4643 wrote:
How is Caddick a benefactor? Yup, he's written large sums off but he/his company have returned large sums from Leeds and the cricket side also. Writing debts off to offset tax makes it a neutral cost doesn't it, ergo no actual 'loss', so isn't a true benefactor.
Just to be clear, Caddick has never written any sums off with Leeds - he put some several £m in as a loan when he first took over back in '96 but that was all repaid by about 2005. Over the years since then Leeds had several millions in the bank ready to spend on ground improvements and have, if anything, being lending the Caddick Group money rather than the other way around.
Obviously that's no longer the case and Caddick has had to put money in as a loan during the pandemic - but again it's unlikely he'd not want it back either when he sells up or when the club can afford to.