Leeds United awaiting second offer
YEP 21/11/13
by Phil Hay
Leeds United’s board are yet to receive a second offer from the consortium bidding to buy the club, despite Lucas Radebe revealing last night that he is backing an attempt to secure shares in Leeds.
United turned down a £7million bid for a majority stake from a UK-based group over the weekend and have attracted no further offers since dismissing the approach as “risible”.
The consortium concerned have not declared their identities but individuals involved with the group are understood to include Mike Farnan, a former commercial and marketing employee with Sunderland and Manchester United, Frank Devoy – a business associate of Farnan’s – and Welcome to Yorkshire chief executive Gary Verity.
Former Hull City chairman Adam Pearson has also been heavily linked with the consortium, but he denied any involvement soon after news of their bid broke on Saturday.
The seven-figure offer to Leeds, which was aimed at securing a stake well in excess of 50 per cent, was immediately rejected by United owner GFH Capital with the Dubai-based firm openly doubting the credibility of the proposal.
The YEP understands that Verity was due to be a boardroom guest at Elland Road for Saturday’s Championship game against Middlesbrough but that invitation has now been withdrawn. United’s directors are believed to be unhappy about the intense coverage of the consortium’s approach.
A statement released by club legend Radebe last night fuelled expectation of forthcoming investment at Elland Road, though the former Leeds defender appeared to rule out the possibility of involving himself in a hostile takeover by saying his group’s plan involved “working with GFH Capital”.
United have themselves held talks with Radebe about the possibility of the 44-year-old purchasing equity in a club who were sold to GFH Capital by ex-chairman Ken Bates less than a year ago.
Radebe, who captained Leeds and played for them between 1994 and 2004, maintains huge popularity among United’s fanbase and would be a highly popular addition to the board, an ambition he called his “dream scenario”.
Radebe said: “I can confirm that I am part of a consortium which has submitted a preliminary indication of interest regarding the acquisition of a stake in Leeds United.
“We hope to continue our recent discussions confidentially with the current shareholders and the board. We would like the opportunity to explain both the substance of our proposal and our strategy for working with GFH Capital to continue the re-building process at the club.
“Leeds United has a special place in my heart. Ever since I retired I have been considering ways to get involved at the club – working at board level with an equity interest would be the pinnacle. It is my dream scenario.”
by Phil Hay
Leeds United’s board are yet to receive a second offer from the consortium bidding to buy the club, despite Lucas Radebe revealing last night that he is backing an attempt to secure shares in Leeds.
United turned down a £7million bid for a majority stake from a UK-based group over the weekend and have attracted no further offers since dismissing the approach as “risible”.
The consortium concerned have not declared their identities but individuals involved with the group are understood to include Mike Farnan, a former commercial and marketing employee with Sunderland and Manchester United, Frank Devoy – a business associate of Farnan’s – and Welcome to Yorkshire chief executive Gary Verity.
Former Hull City chairman Adam Pearson has also been heavily linked with the consortium, but he denied any involvement soon after news of their bid broke on Saturday.
The seven-figure offer to Leeds, which was aimed at securing a stake well in excess of 50 per cent, was immediately rejected by United owner GFH Capital with the Dubai-based firm openly doubting the credibility of the proposal.
The YEP understands that Verity was due to be a boardroom guest at Elland Road for Saturday’s Championship game against Middlesbrough but that invitation has now been withdrawn. United’s directors are believed to be unhappy about the intense coverage of the consortium’s approach.
A statement released by club legend Radebe last night fuelled expectation of forthcoming investment at Elland Road, though the former Leeds defender appeared to rule out the possibility of involving himself in a hostile takeover by saying his group’s plan involved “working with GFH Capital”.
United have themselves held talks with Radebe about the possibility of the 44-year-old purchasing equity in a club who were sold to GFH Capital by ex-chairman Ken Bates less than a year ago.
Radebe, who captained Leeds and played for them between 1994 and 2004, maintains huge popularity among United’s fanbase and would be a highly popular addition to the board, an ambition he called his “dream scenario”.
Radebe said: “I can confirm that I am part of a consortium which has submitted a preliminary indication of interest regarding the acquisition of a stake in Leeds United.
“We hope to continue our recent discussions confidentially with the current shareholders and the board. We would like the opportunity to explain both the substance of our proposal and our strategy for working with GFH Capital to continue the re-building process at the club.
“Leeds United has a special place in my heart. Ever since I retired I have been considering ways to get involved at the club – working at board level with an equity interest would be the pinnacle. It is my dream scenario.”