Mighty Leeds Weblog

Aabed al Zeerah has joined Leeds United’s board and GFH’s David Haigh tells Phil Hay he expects more new investors to follow suit. GFH Capital expects to announce further sales of shares in Leeds United in the weeks ahead after relinquishing a 10 per cent stake to an investment bank in Bahrain. The International Investment Bank (IIB) has acquired a minority interest in the Elland Road club in what is likely to be the first of several equity deals negotiated by United’s owner. GFH Capital completed a full purchase of Leeds on December 21 but the addition of IIB to its ranks and the appointment of the bank’s chief executive, Aabed Al Zeera, as a director of United’s parent company, Leeds City Holdings Limited, is an initial step towards reducing the company’s exposure at Elland Road. The Dubai-based private equity firm – itself wholly owned by Gulf Finance House, another investment bank situated in Bahrain – has been under intense pressure to outline its long-term plans amid doubts a...

By Phil Hay Leeds United’s owners, GFH Capital, have sold a 10 per cent stake in the club to Bahrain-based International Investment Bank. There had been uncertainty over GFH Capital’s intentions for the Whites, with some suggestions that they were looking to offload completely. However, it appears that is not the case. Instead, GFH is recruiting “strategic investors” to strengthen the club’s financial position, which it believes is necessary if Leeds are to regain their former status as a Premier League heavyweight. IIB’s chief executive, Aabed Al-Zeera, will join the Board of Leeds City Holdings Limited. David Haigh, deputy chief executive of GFH Capital, said: “The introduction of IIB is in keeping with what have always been GFH Capital’s aims for the successful, sustainable and long term ownership of Leeds United FC. “We believe that a consortium of like-minded investors provides the best ownership model for a club which belongs among the elite of English football clubs and g...