We'll march on together: GFH Capital reveal plans for Leeds once proposed takeover is complete
Mail 1/10/12
The takeover saga at Leeds United has taken another twist with American and Saudi Arabian groups adding their weight to the fight.
Bahrain-based investment company GFH Capital announced on Thursday they had signed an exclusive agreement with the club over a £52million buy-out.
But challenges have now arisen from across the globe with owner Ken Bates looking for the best deal for his 72.85 per cent stake.
According to the Daily Star, American investors were spotted in the Elland Road directors' box at the recent Championship clash with Hull.
Following on from comments by Bates that he was speaking to potential investors from the Middle East, GFH penned a letter to the Bahrain stock exchange to confirm they were leading the 'acquisition' of the Elland Road club.
That, though, now appears in some doubt.
Speaking during the weekend,Hisham Alrayes, chief executive of GFH, added: 'Like many around the world, people from Bahrain and across the Gulf are passionate about the game of football and notably, English clubs - their successes and hardships are a daily talking point.
'In so many instances this is what bridges the gap between borders and different cultures. We are excited by our intentions for Leeds United and remain fully focused on the specifics of this deal, hoping to conclude a positive outcome as soon as possible.'
Employees of GFH have been photographed with Bates in his box over recent weeks and one of them, chief executive David Haigh, is a Leeds fan who has been public in his support of the club through his Twitter account over recent days.
He said: 'As a club, Leeds United has it all - passionate loyal fans, a great heritage and masses of potential to return to the Premier League with the right, sustainable investment.
'From a business perspective, ownership of an English football club, notably Leeds United, is a great opportunity if the right strategies are in place to benefit from the significant revenues available from renewed broadcasting rights.
'From a personal perspective, I have followed Leeds United since childhood and having been back to Elland Road with my business colleague, Salem Patel and our CEO Hisham Alrayes for the last few home games, it makes us even more determined to acquire the club Leeds United and to see the club prosper.
'The existing infrastructure of the club and the result of the work of Ken Bates means that Leeds United is ready off the field to compete in the Premier League.' Sections of the Leeds support may choose to disagree with Haigh, though, as they have been protesting against Bates, the outspoken 80-year-old former Chelsea chairman, for some time about a perceived lack of investment.
He took over the club in 2005 and has overseen a relegation to League One, a 15-point deduction and a return to the second tier in 2010.
The takeover saga at Leeds United has taken another twist with American and Saudi Arabian groups adding their weight to the fight.
Bahrain-based investment company GFH Capital announced on Thursday they had signed an exclusive agreement with the club over a £52million buy-out.
But challenges have now arisen from across the globe with owner Ken Bates looking for the best deal for his 72.85 per cent stake.
According to the Daily Star, American investors were spotted in the Elland Road directors' box at the recent Championship clash with Hull.
Following on from comments by Bates that he was speaking to potential investors from the Middle East, GFH penned a letter to the Bahrain stock exchange to confirm they were leading the 'acquisition' of the Elland Road club.
That, though, now appears in some doubt.
Speaking during the weekend,Hisham Alrayes, chief executive of GFH, added: 'Like many around the world, people from Bahrain and across the Gulf are passionate about the game of football and notably, English clubs - their successes and hardships are a daily talking point.
'In so many instances this is what bridges the gap between borders and different cultures. We are excited by our intentions for Leeds United and remain fully focused on the specifics of this deal, hoping to conclude a positive outcome as soon as possible.'
Employees of GFH have been photographed with Bates in his box over recent weeks and one of them, chief executive David Haigh, is a Leeds fan who has been public in his support of the club through his Twitter account over recent days.
He said: 'As a club, Leeds United has it all - passionate loyal fans, a great heritage and masses of potential to return to the Premier League with the right, sustainable investment.
'From a business perspective, ownership of an English football club, notably Leeds United, is a great opportunity if the right strategies are in place to benefit from the significant revenues available from renewed broadcasting rights.
'From a personal perspective, I have followed Leeds United since childhood and having been back to Elland Road with my business colleague, Salem Patel and our CEO Hisham Alrayes for the last few home games, it makes us even more determined to acquire the club Leeds United and to see the club prosper.
'The existing infrastructure of the club and the result of the work of Ken Bates means that Leeds United is ready off the field to compete in the Premier League.' Sections of the Leeds support may choose to disagree with Haigh, though, as they have been protesting against Bates, the outspoken 80-year-old former Chelsea chairman, for some time about a perceived lack of investment.
He took over the club in 2005 and has overseen a relegation to League One, a 15-point deduction and a return to the second tier in 2010.