Bahrain-based fund agrees to acquire football club Leeds United

Bahrain-based investor Gulf Finance House (GFH) on Thursday said its fully-owned unit GFH Capital Ltd had inked an exclusive deal to head and arrange the takeover of Leeds City Holdings, the parent of Leeds United Football Club (LUFC).

The company gave no details on the financial aspect of the acquisition, or the timetable, invoking a confidentiality agreement.
However, it said that LUFC is one of the best supported English football clubs, with an attendance above the average per match day of most teams in the Premier League.

GFH expects the club to get financial benefits from the recent negotiations of football broadcast rights and sees chances for it to step up into the Premier League, it added.

Leeds United is currently one step below the Premiership, being 12th in the second league of British football. The club, active since 1919, is also known as the Whites, United and the Peacocks. It has so far won three League Championships and one FA Cup, with the last English championship won in 1992.

Ken Bates, Leeds’ chairman, said five days ago that the club was in advanced talks over a potential investment, Bloomberg reported. On 26 June 2012, the club said it had entered into an exclusivity arrangement with a potential investor, Daily Mail reported.