GFH completes Leeds United deal

GFH Capital has agreed a deal which will see it complete its takeover of Leeds United next month.

The deal will see Ken Bates remain as chairman until the end of the season when he will become club president.

Mr Bates said: “I can confirm we have nown completed all the negotiations with GFH Capital. We have completed the first part of the purchase and they will be taking over 100% of the club.

“I will continue as chairman until the end of the season when I will take over as president and I look forward to sitting back and taking more time off. Neil Warnock will continue as manager with more support than the present owners have been able to give and we look forward to a smooth transition.

“One thing I can say that has benefited from the negotiations is that this six-month courtship has given GFH Capital the opportunity to see the strengths and weaknesses and what needs to be supported. You can look forward to a smoother transition than we’ve seen at a lot of clubs.”

David Haigh, from GFH Capital, will join the board immediately with fellow GFH representatives Hisham Alrayes and Salem Patel joining next month.

Mr Haigh said: “After a long process of negotiations, spanning Leeds, London, Monaco, Dubai and Bahrain, it gives us great pride today, to have completed the deal for Leeds United. A brief but important transitional period now begins in terms of the changeover of ownership: we have today injected further funds into the club and now we look to the future and start the exciting journey to take Leeds United FC back into a prime position in English football once again.

“From a Leeds family myself and a supporter of The Whites since childhood, I know that football is at the very heart of the people of Leeds and the wider community. We want to thank all the fans in UK and around the world for their patience and support while the negotiations have been taking place. Lets now march on together, taking the club back to the Premier League as soon as possible.”

Leeds law firm Walker Morris acted on behalf of the sellers with partners Simon Concannon and Richard Naish leading a large team acting on the deal.

Mr Concannon said: ” We all hope that this transaction will prove to be a successful step in the direction of moving Leeds United back to the Premiership.

“We are pleased to have played our part in giving effect to a transaction which has such local, national and indeed international prominence.”