Wednesday, 20 March 2013

Leeds United set for another Takeover

Leeds’ owners GFH Capital are in talks to sell the club – just three months after taking over at Elland Road. The Bahrain-based group completed a protracted sale from former owner Ken Bates in late December for a “bargain” price. But they are now in negotiations to sell their stake in LUFC Holdings, the club’s parent company, for £7million more than they paid. “The group has an active plan to sell its stake in LUFC Holdings,” said Gulf Finance House in their financial statements for last year, released in February. “Subsequent to the year end, [GFH] has commenced negotiations relating to the sale of its stake in LUFC Holdings.” The news brings more instability to the club, whose Championship play-off hopes are hanging by a thread. They currently sit seven points adrift with eight games to play, while manager Neil Warnock has indicated he will leave in the summer if the club are not promoted.