Application to Leave Leeds Fans Utd CBS Early
In December 2018 Leeds United announced the agreement it had reached with Leeds Fans Utd; the agreement says we buy Club shares and the associated investment is used to supply the Club with world-class training facilities. Our joint belief is that a focus on youth development and 1st team training will help restore our Club back to the top of football in England and beyond.
The scheme is intended to be an investment that provides significant financial returns to members who decide to join and provide additional benefits to members who continue to support our mission from this point. Members will have a choice when the scheme details are announced to leave LFU or continue to support the Club via the share investment.
In a follow-up announcement, published at the start of July, it was made clear that Club plans to complete agreements with other parties had been delayed but they were only delayed.
Leeds United chief executive Angus Kinnear said: “The timing on announcing our plans on a world class training facility and community sports hub around Elland Road will be later in our centenary year than anticipated.
“We are working hard with Leeds City Council to realise our vision and mark our hundredth year with an ambitious project that will leave a meaningful legacy well into our next hundred years.”
Leeds Fans Utd shares the disappointment that plans have been delayed and feels it appropriate to allow our membership a short window to leave the Society if they no longer share our objectives. The application form herein will allow members to leave under the terms of the original share offer and expires on the 14th August 2019.
This will not be the final chance you have to leave Leeds Fans Utd before the share purchase is completed.
Completion of our agreement with Leeds United and final announcement of the full investment scheme in Leeds Fans Utd is on-hold while Leeds United finalises matters outside our control, however members should make note of the additional information from the announcement: “The Heads of Terms that LFU signed with Leeds United state that shareholders who are part of LFU when the scheme is launched will get at least 100% value for their original investment plus additional benefits of being an initial member.”
The full statement can be viewed on Leeds United’s website https://www.leedsunited.com/news/club/25138/statement-on-supporter-investment-from-lfu
If you are a Leeds Fans Utd member who wishes to apply to leave the Society with immediate effect please download and submit the form here:
Despite this decision Leeds Fans Utd remains in full dialogue with Leeds United and we both hope to complete on our agreement for a share sale which will give the whole Leeds United supporting community an unprecedented voice at the very top of the Club’s management.
During this period new membership of Leeds Fans Utd has been temporarily suspended and we will contact those who have recently contacted us asking for membership application details as soon as this suspension is lifted. We apologise for not being able to be flexible.
LFU Board