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It's been reported that the Dubai-based company that wants to buy Leeds United has invested £2m in the club this summer. There are further claims that figure could actually be nearer £6m.
The transfer of £2m is understood to have taken place during the summer when Leeds were rebuilding their squad and talks between the board at Elland Road and GFH Capital ( a private equity firm owned by a Bahraini investment bank) were gathering speed.
For almost 5 months now United have been in negotiations with GFH Capital over a £52m buy-out of the club. Though speculations over the financial state of the parent company has raised concerns about the viability of the takeover.
David Haigh, Deputy CEO, GFH Capital said:
“A lot of nonsense has been written and said by people claiming to have ‘sources’ or inside knowledge, which has resulted in incorrect media reports and even quotes, but as noted before there are confidentiality clauses that are in place...
... and we are both respectful of those. We are focusing on the transaction and not rumour. We are focusing on the transaction and not rumour.
"The importance for us to talk to the numerous fans and supporter groups of Leeds United on the acquisition of the club can not be underestimated but at this time, we have to respect the confidentialities of a deal of this nature.
Following the recent announcement confirming its signing of an exclusive agreement to lead and arrange the acquisition of Leeds United, Bahrain-based company GFH (Capital), has begun working on its future strategies for the club.
In a statement tonight it said its intentions, if successful in its acquisition, is to move the club back to the Premier League as quickly as possible.
A unit of Bahraini investment firm Gulf Finance House (GFH) will lead and arrange the purchase of Leeds United Football Club, GFH said in a statement today.
"GFH would like to confirm that GFH Capital Ltd, a 100 percent subsidiary of GFH, has signed an exclusive agreement to lead and arrange the acquisition of Leeds City Holdings, the parent company of LUFC," the statement said.
It did not elaborate on how or when the acquisition might take place, or give financial terms.
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