Ken Bates becomes Leeds United owner

KEN Bates has been confirmed as the new owner of Championship football club Leeds United.

Mr Bates, chairman of the club, has bought out the previous owners Forward Sports Fund (FSF) through his company Outro for an ‘undisclosed sum’.

FSF, owned by three discretionary trusts, had held almost 73% of the Championship club. 

A recent inquiry into football had put Leeds’ ownership under the spotlight and the Premier League said they would require full disclosure if Leeds were promoted.

Mr Bates has moved to end the speculation despite the Elland Road club looking unlikely to make the end of season play-offs.

In a statement, Leeds United said: “This change in ownership structure makes Ken Bates the controlling shareholder and delivers the transparency sought.”

The club’s chief executive Shaun Harvey had given evidence at the football governance inquiry in March where he told MPs that FSF was a West Indian-based holding company, owned by three discretionary trusts.

The Leeds United statement added: “The scaremongering arising out of the football governance inquiry has not been helpful and, whilst the board were always confident that there were no issues, recognise the concern the unknown outcome of any Premier League questions may have on our members.

“To address this issue and in the hope that this brings an end to the speculation, the chairman Ken Bates has completed the purchase of FSF Limited for an undisclosed sum.”