Thursday, December 13, 2012

Haigh confident of sealing takeover

Yorkshire Evening Post 13/12/12
By Phil Hay
Leeds United director David Haigh insisted last night that GFH Capital was on course to seal a December 21 buy-out of the club despite fresh doubt about its takeover.
Haigh, GFH Capital’s deputy chief executive, declined to comment on claims that the Dubai-based firm had missed a scheduled payment owed to United’s existing owners last week but said it had “every expectation” of finalising the sale in eight days’ time.
GFH Capital’s takeover is set to go through next Friday, two days after Leeds’ League Cup game against Chelsea, and Haigh was preparing to travel to England this evening with a view to concluding the handover of power from existing owner Ken Bates.
A deal agreed between them on November 20 saw GFH Capital acquire a 33.33 per cent stake in United’s parent company, Leeds City Holdings Limited, with Bates retaining just under 50 per cent of the shares.
GFH Capital, which has gained approval from the Football League for three of its staff to join the board at Leeds, is set to take full control of United once its buy-out goes through.
Haigh told the YEP: “Completion is scheduled for the agreed date and we have every expectation of meeting it. That’s why I’m travelling to Leeds.”