Leeds United Takeover Clears Another Hurdle, Deal Close
October 26, 2012
Leeds United’s takeover by Bahrain-based investment bank GFH Capital is finally set to be completed, both parties have announced.
The buyout of the club, which has been in the works for almost six months, is poised to go through after GFH provided current Leeds owner Ken Bates with proof that it has the funds available to complete the deal.
Bates said: “It’s been a long road, but we are in a good place. Both sides have been in talks over the last few days to finalise this deal. We are keeping focused and hope to complete very soon.”
GFH notified the Bahrain stock exchange last month that it had signed an exclusive agreement with Leeds, and deputy chief executive officer David Haigh is hopeful that the deal can be completed soon.
Haigh said: “With the money in place, we are poised to make this deal happen pending agreements and arrangements which are in the interests of the future of Leeds United – we need to make sure all the finer detail is addressed before trading signatures.
“Despite what has been said recently in media, both sides continue to talk regularly and continue to work hard to get the job done.”