Bates confirms Leeds United talks with ‘banking institution’
LEEDS United are at an “advanced stage” in negotiations with a group with interests in the Gulf over investment in the football club, chairman Ken Bates has said.
In a statement released on the club’s official website over the weekend, Mr Bates revealed that both parties are working towards concluding the deal “as soon as possible.”
Mr Bates described the potential investor as a “banking institution” with interests across the Gulf, Asia and Africa.
It was reported that representatives from GFH Capital, the Dubai-based investment company involved in the talks, were guests of Mr Bates’s during Saturday’s home league game against Nottingham Forest.
“We’re well advanced with discussions,” said the United chairman. “There’s a number of finer points to be resolved, but we’re making good progress.
“We had four of the top people over here for a big meeting on Friday and they are at our game on Saturday.
“The potential investors are looking to conclude things as soon as possible. Both parties regret missing the August transfer deadline, but we are planning for the January transfer window.”
Mr Bates added: “The confidentiality agreements that were put in place are very important to the investors.
“They are a banking institution and a Public Company and not only can speculation affect their share price, they are also governed by heavy banking regulations. They also have interests across the Gulf, Asia, and Africa.
“They are using London lawyers and there has been some logistical issues, but we have discussed things at length and agreed that we can make certain things public.
“Since we signed the agreement in June – and told people what we had done – there has been a lot of speculation and agitation, especially by the Leeds United Supporters Trust, and I have to tell people that a lot of the statements that have come out are inaccurate.”
