Leeds United confirm Bahrain-based GFH Capital are new club owners
Press Association
guardian.co.uk
Leeds United will confirm that the Bahrain-based equity investment company GFH Capital are their new owners, and will take 100% control of the Championship club. A press conference has been called for Friday morning when details of GFH Capital's takeover, for a sum believed to be £52m, will be spelled out.
A statement on the club's website on Friday confirmed the move, with the GFH deputy chairman, David Haigh – who became a director last month – to be joined on the club's board by his fellow executives Salem Patel and Hisham Alrayes.
"We are delighted, but also honoured and proud to be the new owners of Leeds United football club," said Haigh. "We have had over 4,000 emails of support from fans and we have been overwhelmed by the reaction. Everyone we have spoken to in the city has been fantastic."
GFH, which stands for Gulf Finance House, has been in protracted talks with the Leeds United chairman Ken Bates, who is relinquishing ownership, over a deal that Patel believes can reinvigorate the club.
Leeds have been outside the top flight since 2004 following financial turmoil that, at one point, instigated a fall into the third tier.
GFH has previously stated a desire to take the club back to the top flight and Patel said: "We are looking forward to a bright future. This is a fresh start for the football club and we welcome fans both old and new to Elland Road."
A new club chairman will be appointed by the new owners at the end of the season, when Bates will become club president.
GFH Capital, who first entered into talks with Leeds in May, has already transferred money into the club and is set to make further funds available to the manager Neil Warnock in the January transfer window.