Saturday, September 22, 2012

Ken Bates - Investment Update

leedsunited.com 22/9/12
Parties aiming to conclude deal...
Leeds United chairman Ken Bates has confirmed that negotiations surrounding potential investment in the club are at an "advanced stage."
Speaking publicly about the ongoing investment talks surrounding the club the Leeds chairman confirmed that both parties are working towards concluding the deal "as soon as possible."
"We're well advanced with discussions," said the United chairman, speaking exclusively to LUTV ahead of Saturday's Elland Road meeting with Nottingham Forest.
"There's a number of finer points to be resolved, but we're making good progress. "We had four of the top people over here for a big meeting on Friday and they are at our game on Saturday.
"The potential investors are looking to conclude things as soon as possible. Both parties regret missing the August transfer deadline, but we are planning for the January transfer window."
In the absence of any firm statements regarding updates on the situation speculation has abounded, but the United chairman said: "The confidentiality agreements that were put in place are very important to the investors.
"They are a banking institution and a Public Company and not only can speculation affect their share price, they are also governed by heavy banking regulations. They also have interests across the Gulf, Asia, and Africa.
"They are using London lawyers and there has been some logistical issues, but we have discussed things at length and agreed that we can make certain things public.
"Since we signed the agreement in June - and told people what we had done - there has been a lot of speculation and agitation, especially by the Leeds United Supporters Trust, and I have to tell people that a lot of the statements that have come out are inaccurate."