As the takeover stalls, Leeds United fall

I suppose the ‘Update on investment’ statement released by GFH Capital on Thursday should only be taken as positive. It was short and sweet, a mere forty five words, and it didn’t really tell us anything new but it is a sign that the deal is still on-going and is progressing even if it isn’t at the pace many of us would like. The statement read…

“GFH Capital have announced that they are in exclusive negotiations with Leeds United in respect of the proposed acquisition of the Club. The relevant agreements are being processed by the respective legal teams and information supplied to the Football League as required under their regulations.”

The problem is that as the as time goes on without any conclusion to this deal the club feels like it is in a kind of limbo. Ever since the rumours started in late May it’s felt like it’s halted progression. Neither the current owner willing to invest in a cub that may be sold shortly or no conclusion meaning the new owners can start the process of rebuilding the club. It’s like putting your house on the market and not wanting to do any serious DIY, you just paint over the cracks.

This was supposed to be a season where promotion was supposed to be a serious prospect but how can we expect to be in contention come the end of the season when we have a squad built of freebies, journeymen and loanees. Yes Warnock has done a couple of good bits of business and has had a small amount of cash to spend but overall the team is not one that inspires and hope.

In recent weeks the situation has got desperate, draws have turned into losses and if we are all honest a thrashing on the scale of Watford was coming given recent performances. Admittedly there was a good pinch of bad luck involved but a manger desperate for new ideas to rejuvenate performances gambled with team selection, when it didn’t work made all out subs at once and ultimately we ended up being an extra man down because of that.

This week Warnock has made his feelings clear, in his column in the Independent he says the takeover has ‘paralysed’ the club and that he is ‘trying to make do with a threadbare squad that is racked by injuries and suspensions’. Whilst I sympathise with him to a certain extent is must be said that recent performances have not been good enough. With Leeds now 18th in the table and as many points off the relegation zone as the play-off places the players need to dig deep. A trip to The Den is never easy but three points tomorrow would really give the team and fans a boost just when we need it.

As much as what happens on the pitch in the next week weeks is important what happens off the both is equally so. GFH have already put £2 million into the club to secure their exclusivity. There is no evidence to suggest that that money has been used to strengthen the squad in any major way but along with a £1.5 million loan from Enterprise Insurance is just keeping the club going. A conclusion to this takeover is required asap to secure the financial future of the club and to start that important process of investing in the squad and building a promotion winning team.

I am yet to be convinced by GFH following rumours and articles about their financial security. I don’t suppose we will find out the full picture until after any deal is finalised. That said this on-going saga is damaging our club and if not concluded soon I fear we could find ourselves in a relegation battle come the end of the season rather than a promotion fight. As fans we can’t do much, but let’s hope that both the players on the pitch and the suits off the pitch do what is best for the club in the coming weeks and put a bit of positivity back into our season.