Light at the end of the tunnel?

27 Sep 2012 10:18 am, by YorkshireSquare

This morning Gulf Finance House released a statement confirming their intentions to lead the acquisition of Leeds United. The statement reads “GFH would like to confirm that GFH Capital Limited, a 100% subsidiary of Gulf Finance House, has signed an exclusive agreement to lead and arrange the acquisition of Leeds City Holdings, the parent company of LUFC.”

This mornings news falls short of what the majority of Leeds United fans want, the signing on the papers, the conclusion of the deal but it does in my opinion mark a big step forward. This is the first time that GFH have publicly announced their interest to buy LUFC despite much rumour and speculation in the press and on social media sites and photographs of their representatives at Elland Road. The announcement comes at a time when their representatives have spent an extended period of time in the UK and to me highlights that negotiations are at a very advanced stage.

The statement also answers a question for us, that it is their intention to acquire the parent company Leeds City Holdings. This is in line with the information that Leeds United Supporters Trust have been giving for some time that this is a takeover and contradictory to the club statements and information Ken Bates has provided recently describing the deal as investment. This will be a big relief to many fans who do not want to see Ken Bates continue in any capacity at the club.

We are still left with questions though, just who is buying Leeds United? The statement is very vague, merely stating that GFH are ‘leading and arranging the acquisition’, no mention of the investors themselves.

So, a positive step today. Let’s hope that the news we have all been waiting for is not far away. The statement describes the club as “One of the best supported clubs in English Football with a higher average match day attendance than most Premier League teams. In addition, LUFC has a large and passionate fan base and a rich history of success in English Football over the last 40 years”. With that history, our support and new investment hopefully Leeds United can be great again!

Read the full statement from GFH here.

Are you interested in getting all of the latest online Betting odds for upcoming football fixtures? Make sure you check out Betfair today and take advantage of their fantastic odds!

4 Comments

View all Showing latest four comments of four...

Sadact wrote on 30 Sep 2012 06:25 pm

[quote="Armleywhite"]Lets just hope and pray that that light you see is not another train coming the other way.[/quote]

Totally agree ! It's a real concern, I can understand everyone's excitement at the thought of Ken departing, but after the last 7/8 years Of getting our house in order , I hope the next owners aren't planning on chasing champions league and plunging us back into rediculous debt again. I am all got progression ! but at what cost ? MOT

Reply to comment

YorkshireSquare wrote on 27 Sep 2012 06:39 pm

GFH do not have final agreement on a takeover of Leeds Utd despite today's statement to the Bahrain Bourse.

According to a senior source at the Islamic financial institution, GFH's statement to the Bahrain Bourse was forced upon it by the stock exchange following a report on the company's interest in Leeds United in the Gulf Daily News.

A source at GFH has previously said that the institution is acting with the aim of buying the Championship club outright, and not as a broker for third parties. GFH Capital, chief operating officer, David Haigh has attended Leeds' last two matches as a boardroom guest and has been lined up by his company to takeover from Leeds majority shareholder Ken Bates as chairman should their bid be successful.

Sources at Leeds United insist that the club remains in the hands of Bates and that there are major legal obstacles to be overcome before it is sold to any of a number of interested parties. These include a wealthy American investor who attended Leeds' Championship fixture with Hull City last week, and a different Middle East group.

http://sulia.com/source/S-17474811/?sou ... e425d19df9

Reply to comment

Armleywhite wrote on 27 Sep 2012 02:52 pm

Lets just hope and pray that that light you see is not another train coming the other way.

Reply to comment

YorkshireSquare wrote on 27 Sep 2012 12:10 pm

Gulf Finance House, an Islamic investment bank from the tiny Gulf island state, said Thursday one of its Dubai-based subsidiaries will "lead and arrange the acquisition of Leeds City Holdings, the parent company of LUFC." A person familiar with the matter said the transaction price would be about £50 million ($80.8 million), and that GFH Capital is acting on behalf of "investors from the Gulf," without elaborating.

The person familiar with the matter said GFH is attracted by the potential broadcasting revenue that Leeds United would receive if they win promotion to the Premier League, which could total £60 million a year.

http://online.wsj.com/article/SB1000087 ... eds+United

Reply to comment

How far will £36m in parachute payments stretch

The Leeds United Breakfast Debate - Join in the discussion of all the days latest headlines from the world of Leeds United. Team news, interviews, injury updates, transfer news you name it we debate it....

Leeds United News Archive

All our news articles, comment and editorials including the LUFC Breakfast Debate.

Message Boards & Forums

Our forums and message boards where you can debate and discuss all things Leeds United with like minded fans.

Esports: Opportunities, Risks, and Regulatory Considerations

Esports, the realm of competitive video gaming, has rapidly ascended from niche subculture to mainstream entertainment, captivating millions of enthusiasts worldwide. With its meteoric rise, esports...