Leeds anxious as GFH Capital fail to pay on time
Mail 12/12/12
By Charles Sale
Doubts about the proposed takeover of Leeds United by Bahrain-based bank Gulf Finance House Capital — due to be completed four days before Christmas — will grow after a scheduled payment date was missed.
The Middle East investors, whose fit-and-proper-persons test by the Football League for club owners and directors is ‘ongoing’, failed to transfer a tranche of money to Leeds last week.
This will only add to supporters’ concern about the lack of transparency concerning the purchase of the 49 per cent shareholding of 81-year-old owner Ken Bates, who is due to stay on as chairman until the end of the season before becoming club president.
However, Leeds are still confident that the reported £52million sale will be finalised on December 21 without any more hiccups. It is understood they have been reassured by GFH Capital that the money is in their lawyer’s client account and Bahrain banking regulations meant the payment schedule had to be altered.
By Charles Sale
Doubts about the proposed takeover of Leeds United by Bahrain-based bank Gulf Finance House Capital — due to be completed four days before Christmas — will grow after a scheduled payment date was missed.
The Middle East investors, whose fit-and-proper-persons test by the Football League for club owners and directors is ‘ongoing’, failed to transfer a tranche of money to Leeds last week.
This will only add to supporters’ concern about the lack of transparency concerning the purchase of the 49 per cent shareholding of 81-year-old owner Ken Bates, who is due to stay on as chairman until the end of the season before becoming club president.
However, Leeds are still confident that the reported £52million sale will be finalised on December 21 without any more hiccups. It is understood they have been reassured by GFH Capital that the money is in their lawyer’s client account and Bahrain banking regulations meant the payment schedule had to be altered.
