Leeds United Owners Deny Planning to Sell Club
By iSportconnect | March 20, 2013
The owners of Leeds United, Gulf Finance House (GFH), have denied reports claiming they were actively seeking to sell their share of the Championship club.
GFH’s financial statements for the year ending 31 December 2012 stated that Leeds was a “bargain purchase”, and that they were now looking to sell the club.
The Bahrain-based company has since released a statement to claify their intentions, saying that they are selling part of their stake to raise funds.
A statement on the club’s website read: “In March 2013, Gulf Finance House (GFH), parent company of Leeds United FC owner GFH Capital, published its financial audited report that stated it was looking to sell its stake in the club.
“To clarify and as previously stated, GFH Capital is looking for investment in part of its share in the club, not its entirety.
“GFH Capital has been transparent since acquiring Leeds United and is continuing to look for strategic investors in part of the club that can invest in Leeds United, alongside GFH Capital, to ensure a long term, sustainable future.
“Since GFH Capital took ownership of Leeds United, it has fulfilled its promise of investing in the club, with around £10m having already been injected into the club; to strengthen the squad and for other working capital purposes.
“Additional financial support will continue to be provided as required.”