GFH Capital Completes Leeds United Takeover
By Community | December 21, 2012
Leeds United’s new owners, Dubai-based investment company GFH Capital, believe they can deliver a “fresh start” for the Championship club as they outlined their plans for the future.
GFH Capital’s reported £52 million takeover sees GFH deputy chairman David Haigh, who became a director last month, to be joined on the Leeds board by fellow executives Salem Patel and Hisham Alrayes.
A statement on Leeds’ website confirmed the company would take 100% charge, while they have been in protracted talks with Ken Bates, who is relinquishing ownership, over a deal that Patel believes can reinvigorate the club.
“We are delighted, but also honoured and proud to be the new owners of Leeds United football club,” Haigh said. “We have had over 4,000 e-mails of support from fans and we have been overwhelmed by the reaction. Everyone we have spoken to in the city has been fantastic.”
GFH has previously stated a desire to take the club back to the top-flight and Patel added: “We are looking forward to a bright future. This is a fresh start for the football club and we welcome fans both old and new to Elland Road.”
Leeds have been outside the top-flight since 2004 following financial turmoil that, at one point, instigated a fall into the third tier.
A new club chairman will be appointed by the new owners at the end of the season when Bates will become club president.