THE ARCHIVE
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Beyond our Ken | Beyond our Ken |
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As our press day loomed, our thoughts turned to Leeds United and we began to write about Ken Bates’s latest victory. Which was what would surely happen. After all, the man who was on the brink of disaster at Chelsea, with unserviceable debts of more than £100 million, was able to walk away with £18m when Roman Abramovich arrived on his white charger. Bates had bought Chelsea for just £1 originally and now seemed likely to snap up Leeds for another astonishingly low sum. As the deadline approached for a legal challenge, Bates had upped his offer from 1p in the pound to 8p, amid suggestions that Her Majesty’s Revenue and Customs were considering legal action. Yet still we felt confident that Bates would triumph and he warned everyone that the alternative was oblivion. Four o’clock came and went and the Press Association carried no news of a challenge. That changed at 4.20.
It was difficult to know what to think – or what to write. One of the first things to be said about Bates is that he is famously litigious. This simple fact colours every media report on his various dealings, including in relation to recent events at Leeds. It remains the case that there is an interesting book to be written about him. Bates’s past business dealings were laid out in forensic details in Tom Bower’s award-winning book Broken Dreams. The 25 pages on Bates’s career in property development and the banking industry, and what Bower terms “a history of minimising his taxes and encountering insolvent companies”, are very difficult to follow, as you would expect, but rewarding. From WSC 246 August 2007
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