GFH Capital to take over Leeds United

-
leedsunited.com 21/11/12
An official club statement...
Dubai-based investment bank, GFH Capital Limited has today signed the deal for the acquisition of Leeds United Football Club. The signing of this deal marks the start of a one-month transitional period in terms of full change in ownership and control of the club. Following Football League approval, GFH Capital Limited will be 100% shareholders.
The deal sees GFH Capital Limited, which has financially supported the club since entering into an exclusivity period, injecting further funds for working capital and to support Neil Warnock's intentions to strengthen the team.
GFH Capital executive David Haigh will join the board of Leeds United with immediate effect with fellow GFH Capital executives Hisham Alrayes and Salem Patel joining in December as the leadership of the club is further strengthened.
Ken Bates will remain as Chairman for a transition period until the end of the season after which point a new GFH Capital-led Chairman will take over the position and Ken Bates will become club President.
Leeds United chairman Ken Bates said: "I can confirm we have now completed all the negotiations with GFH Capital. We have completed the first part of the purchase and they will be taking over 100 per cent of the club. Meanwhile, there is a transitional period while they get to know more about the club.
"I will continue as chairman until the end of the season when I will take over as president and I look forward to sitting back and taking more time off. Neil Warnock will continue as manager with more support than the present owners have been able to give and we look forward to a smooth transition.
"One thing I can say that has benefited from the negotiations is that this six-month courtship has given GFH Capital the opportunity to see the strengths and weaknesses and what needs to be supported. You can look forward to a smoother transition than we've seen at a lot of clubs.
"I'd like to thank, on behalf of Suzannah and myself, the tremendous support we have received over the years, particularly over the last 12 to 18 months which hasn't been easy, but has made us more determined to see the job through."
David Haigh, Deputy CEO, GFH Capital Limited said: "After a long process of negotiations, spanning Leeds, London, Monaco, Dubai and Bahrain, it gives us great pride today, to have completed the deal for Leeds United.
"A brief but important transitional period now begins in terms of the changeover of ownership: we have today injected further funds into the club and now we look to the future and start the exciting journey to take Leeds United FC back into a prime position in English football once again.
"From a Leeds family myself and a supporter of The Whites since childhood, I know that football is at the very heart of the people of Leeds and the wider community. We want to thank all the fans in UK and around the world for their patience and support while the negotiations have been taking place. Lets now march on together, taking the club back to the Premier League as soon as possible."

Popular posts from this blog

The huge initial fee Leeds are set to receive for Crysencio Summerville’s move to West Ham — Leeds United News 31/7/24

-
Will Butcher West Ham United are closing in on a deal to sign Crysencio Summerville from Leeds United, and Ben Jacobs has shared how much Leeds will receive for the Dutchman. The 22-year-old has been strongly linked with the Elland Road exit door all summer and was targeted as the one big sale Leeds needed to make before the Profit & Sustainability Rules deadline this month. But instead, Leeds sold Archie Gray for £40m to Tottenham. Leeds have since sold five more players in the form of Diego Llorente, Marc Roca, Kris Klaesson and Charlie Cresswell – raking in around £60m in total. But more exits were always likely and Fabrizio Romano reported on Wednesday afternoon that West Ham had agreed personal terms with Summerville, and talks for a fee were ongoing with the Yorkshire side. Now, the story has moved on with multiple sources claiming a deal is done between Leeds and Angus Kinnear’s old club. The Dutchman is expected to sign a five-year at the London Stadium, until Jun...
Read more

Leeds United board break silence after transfer window with statement on upcoming Elland Road development — YEP 2/9/24

-
By Joe Donnohue Leeds United have confirmed supporters' commemorative stones at Elland Road's Centenary Square will be replaced free of charge in a bid to improve their longevity. Beginning next month, Leeds supporters' personalised stones will be replaced with exact replicas, courtesy of a new company, to ensure of a 'much better quality' installation. The work is expected to take around two months to complete. An official club statement confirmed 'three larger stones dedicated to former managers Don Revie, Howard Wilkinson and Marcelo Bielsa' will also be installed, 'similar to those located in Bremner Square', while additional space for supporters to purchase new stones has also been factored into the project. “The club have taken on board recent feedback from supporters on the stones at Centenary Square, and we are really happy that we can now announce that all of the stones will be replaced," chief executive Angus Kinnear confirmed,...
Read more

Leeds United transfer state of play as Whites knock back low bid and assert wing pair stance — YEP 3/7/24

-
By Graham Smyth Leeds United are not actively looking to cash in on Crysencio Summerville and Willy Gnonto and believe any further outgoing transfer business will be done on their terms. The Whites, who sold Archie Gray to Tottenham Hotspur on Tuesday for £40m, expect that there will be continued interest in wing pair Summerville and Gnonto as the summer transfer window progresses. Summerville has been a target for Premier League side Brighton and Hove Albion but their interest has not yet materialised into a bid. The Albion did, however, send a £30m proposal for Georginio Rutter, which Elland Road chiefs rejected. Rutter is not expected to try and force an exit this summer and appears settled at Leeds after a far more positive second season in English football. The sale of Gray has helped put Leeds into a position where they do not need to sell star players and can dictate any moves that do happen. Club sources say they are not actively looking to sell the likes of Summerville o...
Read more