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Nov 16, 2012

GFH given Leeds takeover extension

GFH Capital has been granted an extension to the exclusivity period relating to their proposed takeover of Leeds United.

Additional time to finalise a deal between the Bahrain-based investment bank and club chairman Ken Bates has been permitted, following weeks of ongoing talks having already taken place.

David Haigh, deputy chief executive officer at GFH Capital, said in a statement: "The fact that we are in such advanced talks means this extended exclusivity window is merely to ensure we can get past the final post without distraction.

"We have come so far and are looking forward to what we hope will be a positive statement about change in ownership of Leeds United shortly."

Bates announced he had bought a controlling 72.85% stake of the club's shares from a Geneva-based company, Forward Sports Fund, in April of last year, while the club have made pre-tax profits of more than £10 million since the summer of 2007.

Information from the Press Association was used in this report

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