Overseas Investment At Elland Road – What This Means For Leeds United?
The Hard Tackle 27/11/12
By Siddharth Mohan
After six months of speculation and negotiation, the saga of Leeds United A.F.C getting a new owner finally seems to be coming to an end. Dubai based investment bank GFH Capital have finalized agreements with Leeds United and its current chairman and owner Ken Bates, and are expected to complete 100 % takeover of the club by 21st of December in a deal worth £52million. Ken Bates will continue as the chairman of the club for the current season after which he is expected to take over the reins as the president of the Yorkshire club. GFH Capital executive David Haigh who is a supporter of Leeds’ since his childhood will join the board of Leeds United and he will be accompanied by his colleagues from GFH, Hisham Alrayes and Salem Patel, who will be joining the board once the takeover is fully completed.
It has been a difficult decade for Leeds United and its fans, starting out from the financial meltdown caused by their failure to qualify for UEFA Champions League followed by relegation from the Premier league and the Championship. In the process, the three time English champions have lost a bunch of their best players and have also endured erratic management decisions under the ownership of Ken Bates who took over the club’s running eight years back.
The news of course will come as a new ray of hope for The Whites fans who have seen their beloved club hit a bad patch over recent weeks going winless in their last seven games before this weekend and plummeting down the table to 18th position. Manager Neil Warnock who was frustrated in the summer over lack of funds available to the club in the transfer market will be a much relieved man and will look forward to money flowing in during the January transfer window.
Three days into the GFH tenure and things started ticking in the right direction. Neil Warnock managed to obtain the services of defender Alan Tate from Swansea City and winger Jerome Thomas from West Bromwich Albion on loan on deadline day. When Leeds took on table topping Crystal Palace at Elland Road this weekend, there was an atmosphere of belief in the crowd, an extra spring in the foot-steps of the players and an overall confidence resonating all through the stadium. But things did not stop just there, results came along as well. Leeds United strengthened by the additions of Tate and Thomas won 2-1 over high flying Palace, their first in eight games. Jerome Thomas tormented the Palace defense with a strong display on the left flank and Tate who was slotted alongside Lees in defense played a crucial role in retaining Leeds United‘s lead. If the win over Palace and the influence of the new recruits are a sign of things to come for Leeds, fans will have much to look forward to for the rest of the season.
Key factors that can take Leeds United forward
1.The Magic Touch – Aside from the takeover, the other big news for Leeds United will be the decision of the new owners to retain Neil Warnock as manager. Warnock is widely regarded in English football to have that magic touch of getting teams promoted with minimum resources at his disposal. His experience of player handling will also be key to now cash rich Leeds United in terms of retaining harmony amongst new recruits and keeping the players focused on their goal of getting promoted to the Premiership. Warnock was handed a brand new team in the summer and has done quite well in gelling the team together and embedding into the team his style of play and Leeds United fans will loathe to see this team broken again. With transfer money now available for him to spend, expect Warnock to spend wisely and bring in players who will complement and strengthen the current squad for the club’s push to the Premier league.
2.Neutralization of Ken Bates – When Bates bought Leeds United, many saw him as a saviour of the club that had entered administration and were at a point in danger of being liquidated. But aside from saving the club, the “Bates” effect has in recent years taken the club backwards. Rifts with managers and players have seen many leave the club when the team has been on the brink of success. When GFH Capital take over the affairs of the club completely in December, Ken Bates will have minimum control over the running of the club and his control will be further lessened come next season. A board comprising GFH executives and ex-players,most notably Peter Lorimer and Eddie Gray, should ensure a smooth running of the club’s affairs.
3.Return of a belief and confidence – The availability of money is always good news to a club and its fans and this will be the case at Leeds United as well. Big name signings and better resources will be on the cards and this always brings about a sense of confidence and morale amongst fans and in the dressing room.
4. A downside to the new money is of course the owners getting impatient for success and changing too many things at the club for the worse. GFH Capital, as was the case with Blackburn Rover’s Venkys, have no history in football management and if things aren’t kept in control, the club could very well go along the wrong direction. Leeds United though are blessed with a set of loyal ex-players who assume an active role in the club’s running and administration and they should be playing a major role in cooperating with the new owners in their plans to take Leeds United to the top of England and Europe.
An exciting time lies ahead of Leeds United A.F.C and its fans and much is expected from the new investment. Club and fans though must realize that success cannot be attained quickly and that they must remain patient and focused to bring back their glory days.
By Siddharth Mohan
After six months of speculation and negotiation, the saga of Leeds United A.F.C getting a new owner finally seems to be coming to an end. Dubai based investment bank GFH Capital have finalized agreements with Leeds United and its current chairman and owner Ken Bates, and are expected to complete 100 % takeover of the club by 21st of December in a deal worth £52million. Ken Bates will continue as the chairman of the club for the current season after which he is expected to take over the reins as the president of the Yorkshire club. GFH Capital executive David Haigh who is a supporter of Leeds’ since his childhood will join the board of Leeds United and he will be accompanied by his colleagues from GFH, Hisham Alrayes and Salem Patel, who will be joining the board once the takeover is fully completed.
It has been a difficult decade for Leeds United and its fans, starting out from the financial meltdown caused by their failure to qualify for UEFA Champions League followed by relegation from the Premier league and the Championship. In the process, the three time English champions have lost a bunch of their best players and have also endured erratic management decisions under the ownership of Ken Bates who took over the club’s running eight years back.
The news of course will come as a new ray of hope for The Whites fans who have seen their beloved club hit a bad patch over recent weeks going winless in their last seven games before this weekend and plummeting down the table to 18th position. Manager Neil Warnock who was frustrated in the summer over lack of funds available to the club in the transfer market will be a much relieved man and will look forward to money flowing in during the January transfer window.
Three days into the GFH tenure and things started ticking in the right direction. Neil Warnock managed to obtain the services of defender Alan Tate from Swansea City and winger Jerome Thomas from West Bromwich Albion on loan on deadline day. When Leeds took on table topping Crystal Palace at Elland Road this weekend, there was an atmosphere of belief in the crowd, an extra spring in the foot-steps of the players and an overall confidence resonating all through the stadium. But things did not stop just there, results came along as well. Leeds United strengthened by the additions of Tate and Thomas won 2-1 over high flying Palace, their first in eight games. Jerome Thomas tormented the Palace defense with a strong display on the left flank and Tate who was slotted alongside Lees in defense played a crucial role in retaining Leeds United‘s lead. If the win over Palace and the influence of the new recruits are a sign of things to come for Leeds, fans will have much to look forward to for the rest of the season.
Key factors that can take Leeds United forward
1.The Magic Touch – Aside from the takeover, the other big news for Leeds United will be the decision of the new owners to retain Neil Warnock as manager. Warnock is widely regarded in English football to have that magic touch of getting teams promoted with minimum resources at his disposal. His experience of player handling will also be key to now cash rich Leeds United in terms of retaining harmony amongst new recruits and keeping the players focused on their goal of getting promoted to the Premiership. Warnock was handed a brand new team in the summer and has done quite well in gelling the team together and embedding into the team his style of play and Leeds United fans will loathe to see this team broken again. With transfer money now available for him to spend, expect Warnock to spend wisely and bring in players who will complement and strengthen the current squad for the club’s push to the Premier league.
2.Neutralization of Ken Bates – When Bates bought Leeds United, many saw him as a saviour of the club that had entered administration and were at a point in danger of being liquidated. But aside from saving the club, the “Bates” effect has in recent years taken the club backwards. Rifts with managers and players have seen many leave the club when the team has been on the brink of success. When GFH Capital take over the affairs of the club completely in December, Ken Bates will have minimum control over the running of the club and his control will be further lessened come next season. A board comprising GFH executives and ex-players,most notably Peter Lorimer and Eddie Gray, should ensure a smooth running of the club’s affairs.
3.Return of a belief and confidence – The availability of money is always good news to a club and its fans and this will be the case at Leeds United as well. Big name signings and better resources will be on the cards and this always brings about a sense of confidence and morale amongst fans and in the dressing room.
4. A downside to the new money is of course the owners getting impatient for success and changing too many things at the club for the worse. GFH Capital, as was the case with Blackburn Rover’s Venkys, have no history in football management and if things aren’t kept in control, the club could very well go along the wrong direction. Leeds United though are blessed with a set of loyal ex-players who assume an active role in the club’s running and administration and they should be playing a major role in cooperating with the new owners in their plans to take Leeds United to the top of England and Europe.
An exciting time lies ahead of Leeds United A.F.C and its fans and much is expected from the new investment. Club and fans though must realize that success cannot be attained quickly and that they must remain patient and focused to bring back their glory days.