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Mar 20, 2013

Leeds United up for sale

Leeds United owners Gulf Finance House (GFH) have confirmed that they are looking to sell the club after only three months .

GFH only acquired the Championship side on December 21, but they have revealed an 'active plan' to sell their stake in LUFC Holdings Limited in the company's statements for the year ending December 31, 2012.

"The Group has an active plan to sell its stake in LUFC Holdings Limited, and accordingly, the asset and liabilities acquired were classified as held-for-sale and presented in the consolidated statement of financial position. Subsequent to the year end, the Group has commenced negotiations relating to the sale of its stake in LUFC Holdings Limited," GFH's company accounts for 2012 read.

The Bahrain-based company went on to describe the football club as a "bargain purchase" for potential buyers.

Local businessman Steve Parkin, who previously failed in trying to buy the club, is reportedly interested in putting forward another offer.

News of GFH wishing to sell follows on from that of manager Neil Warnock revealing he will leave the club, who currently sit seventh, if they fail to reach the play-offs.

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