GFH to hold a small stake in Leeds United when deal is done
Yorkshire Evening Post 21/1/14
by Leon Wobschall
GULF FINANCE HOUSE have confirmed to their shareholders that they will retain a 10 per cent shareholding in Leeds United once a consortium have completed its takeover.
In a statement, Bahrain-based GFH, the parent company of United majority shareholder GFH Capital, said that a 75 per cent stake will be sold to a consortium of British investors, once it receives the relevant approval from footballing authorities.
That Sport Capital consortium is led by United managing director David Haigh and also includes Andrew Flowers, the managing director of club shirt sponsor Enterprise Insurance and two other backers.
In a statement, GFH said that they expect a ‘positive impact’ on its financials, following completion of the deal, with the terms of the agreement and value not disclosed.
Meanwhile, United manager Brian McDermott is working on bolstering his forward options ahead of United’s return to action in a week’s time at home to Ipswich Town, with a new striker at the top of his transfer list.
The transfer window remains open for another ten days, with McDermott revealing after Saturday’s game against Leicester City that he is attempting to agree terms with one particular player.
That deal is said to be ‘quite complicated’ according to the Whites boss, keen for this particular deal to go through after recently missing out on the signing of Ashley Barnes.
McDermott copped frustration after seeing striking target Barnes move to Burnley, which was reportedly blocked by senior officials at Gulf Finance House.
After missing out on Barnes, McDermott has switched to other targets, with several names having been linked with United.
They include former Swansea City striker Luke Moore, set to leave Turkish club Elazigspor, who are struggling to meet their financial obligations, having only signed him last summer.
Current Swans forward Leroy Lita, who McDermott knows from his time at Reading, is another being linked with United, with the Welsh club expecting the much-travelled 29-year-old to move on this month after receiving a number of enquiries.
Lita recently returned to the Liberty Stadium following a disappointing loan spell at Brighton, where he made just five substitute appearances and scored just once.
Frozen out at Swans under Michael Laudrup and expected to leave when his deal expires this summer, Lita is expected to join another club shortly.
On Lita, who spent loan spells at Sheffield Wednesday and Birmingham City last term, Swans chairman Huw Jenkins said: “There’s been a lot of interest in Leroy.
“When he finds the right project for him, her will probably go out on loan again.”
Moore’s situation is being monitored by a number of clubs, with Leeds one of several to reportedly register some form of interest.
His representative, Peter Morrison of the James Grant Group, added: “The club (Elazigspor) have informed us that they are going to struggle to meet their financial obligations which is disappointing, but also enables him to leave without any compensation.”
Speaking about his quest to bring in another signing, after the home clash with Leicester, McDermott said: “We had a conversation (with a player); I can’t go into the details, because it’s quite complicated. But there is someone we are trying to do. We want it to go through.”
Leeds’ trip to Loftus Road to face QPR on Saturday, March 1 will now be screened live by Sky Sports, kicking off at 12.15pm. A youth United development squad side drew 0-0 with Birmingham City at Thorp Arch yesterday afternoon.
by Leon Wobschall
GULF FINANCE HOUSE have confirmed to their shareholders that they will retain a 10 per cent shareholding in Leeds United once a consortium have completed its takeover.
In a statement, Bahrain-based GFH, the parent company of United majority shareholder GFH Capital, said that a 75 per cent stake will be sold to a consortium of British investors, once it receives the relevant approval from footballing authorities.
That Sport Capital consortium is led by United managing director David Haigh and also includes Andrew Flowers, the managing director of club shirt sponsor Enterprise Insurance and two other backers.
In a statement, GFH said that they expect a ‘positive impact’ on its financials, following completion of the deal, with the terms of the agreement and value not disclosed.
Meanwhile, United manager Brian McDermott is working on bolstering his forward options ahead of United’s return to action in a week’s time at home to Ipswich Town, with a new striker at the top of his transfer list.
The transfer window remains open for another ten days, with McDermott revealing after Saturday’s game against Leicester City that he is attempting to agree terms with one particular player.
That deal is said to be ‘quite complicated’ according to the Whites boss, keen for this particular deal to go through after recently missing out on the signing of Ashley Barnes.
McDermott copped frustration after seeing striking target Barnes move to Burnley, which was reportedly blocked by senior officials at Gulf Finance House.
After missing out on Barnes, McDermott has switched to other targets, with several names having been linked with United.
They include former Swansea City striker Luke Moore, set to leave Turkish club Elazigspor, who are struggling to meet their financial obligations, having only signed him last summer.
Current Swans forward Leroy Lita, who McDermott knows from his time at Reading, is another being linked with United, with the Welsh club expecting the much-travelled 29-year-old to move on this month after receiving a number of enquiries.
Lita recently returned to the Liberty Stadium following a disappointing loan spell at Brighton, where he made just five substitute appearances and scored just once.
Frozen out at Swans under Michael Laudrup and expected to leave when his deal expires this summer, Lita is expected to join another club shortly.
On Lita, who spent loan spells at Sheffield Wednesday and Birmingham City last term, Swans chairman Huw Jenkins said: “There’s been a lot of interest in Leroy.
“When he finds the right project for him, her will probably go out on loan again.”
Moore’s situation is being monitored by a number of clubs, with Leeds one of several to reportedly register some form of interest.
His representative, Peter Morrison of the James Grant Group, added: “The club (Elazigspor) have informed us that they are going to struggle to meet their financial obligations which is disappointing, but also enables him to leave without any compensation.”
Speaking about his quest to bring in another signing, after the home clash with Leicester, McDermott said: “We had a conversation (with a player); I can’t go into the details, because it’s quite complicated. But there is someone we are trying to do. We want it to go through.”
Leeds’ trip to Loftus Road to face QPR on Saturday, March 1 will now be screened live by Sky Sports, kicking off at 12.15pm. A youth United development squad side drew 0-0 with Birmingham City at Thorp Arch yesterday afternoon.
