GFH to front Leeds purchase
9:00am Thursday 27th September 2012 in National Sport © Press
Association 2012
Leeds appear to be on the verge of being taken over Leeds appear to be
on the verge of being taken over
The Middle-Eastern investment bank, Gulf Finance House, have confirmed
they have signed an exclusive agreement to lead a takeover of
Championship side Leeds.
The financial future of the Elland Road club has been up in the air
since Leeds, on June 26, revealed they had granted exclusivity to a
potential investor. On Saturday, current owner Ken Bates broke his
summer-long silence by admitting he was in talks with a group from the
Middle East.
On Thursday morning, in a letter released to the Bahrain Stock Exchange,
GFH confirmed that one of their subsidiary companies, GFH Capital, were
the group operating on behalf of the potential purchasers.
The letter read: "Further to the news published in the Gulf Daily News
on the 25th and 26th Sep 2012, referring to the proposed acquisition of
Leeds United Football Club (LUFC), GFH would like to confirm that GFH
Capital Limited, a 100% subsidiary of Gulf Finance House, has signed an
exclusive agreement to lead and arrange the acquisition of Leeds City
Holdings, the parent company of LUFC.
"Due to a confidentially provision, no further details can be given
about the commercial terms of the transaction."
There was no comment from the club on Thursday morning, although GFH did
confirm to Press Association Sport that the correspondence had come from
them.
David Haigh, a Leeds fan, who is the deputy chief executive officer and
chief operating officer of GFH Capital is thought to be the frontman of
the takeover, but was also unavailable for comment.
Haigh did speak on his Twitter account, though, writing: "Good morning
everyone. Thank you for all your messages of support. They are very
important to us. #LUFC"
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