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Leeds United Takeover Talks Continue

Fri 26th Oct 2012 | Clubs Ownership

Leeds United have confirmed the continuation of advanced talks with GFH Capital as they look to secure a takeover of the club.

As an obligatory part of this stage of the talks, GFH Capital, which has already provided £2m to the Championship club with further funds available, has now provided the Leeds United FC owners and management with the necessary proof that it has the funds available to close this transaction.

Leeds United chairman Ken Bates said in a statement released on the club’s official website: "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.

The proposed takeover has been widely reported but Bates took exception to some reports, stating: “The inaccurate reporting of certain journalists who will remain unnamed does not help the situation. Their articles, based upon a lack of knowledge of the intricacies of the deal and the full facts of the positive intentions of GFH Capital, achieve little and lead only to retractions or public apologies at a later date."

David Haigh, Deputy CEO, GFH Capital 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."

Salem Patel, Board Director and Chief Investment Officer, GFH Capital said: "We understand there is some concern related to how Leeds United would be run under our stewardship.

“It remains important to be clear that Shari'ah law will not hinder this transaction nor will it affect the future operations of the club. Our intention is to provide investment which will facilitate a successful and sustainable future for Leeds United on and off the pitch."

 

Posted by: Aaron Gourley

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