Wednesday, 22 January 2014

Leeds United take over Close to Collapse?

Sport Capital's bid to take a 75% share in Leeds United looks to be close to collapse as the consortium and current owners GFH wrangle over details.

GFH Capital bought the club in December 2012 from Ken Bates but they recently announced that they would be selling all but a 10 percent stake in the club, which would remain with Bahrain-based Gulf Finance House - their parent company. It had been announced that 75 percent would be sold to a consortium of British investors (Sport Capital) led by United managing director David Haigh.

Sport Capital were thought to have completed a deal in time to provide transfer funds for Brian McDermott It's been reported today that the deal is far from sealed and there could even be a rival offer from the owner of Serie A club Cagliari. Italian press are reporting that the Sardinian club's owner Massimo Cellino has made a last minute bid to hijack Sport Capital's bid.

In an interview earlier this week, the Isolani chief refused to rule out potentially bidding for the Yorkshire club, and the Italian press reported on Wednesday that a deal is close. Cellino, 57, was reported to have bid unsuccessfully for West Ham in 2010, and in 20 years at Cagliari has sacked 36 managers.

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