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Takeover Statement: Deal Set To Be Finalised

The latest in a long line of takeover statements indicates that a deal couldn't be closer.

Paul Thomas

GFH Capital and Leeds United have released a new joint statement this morning and the signs are good.

The two main points to come from the statement are as follows:

  • It confirms that GFH have put £2million into the club with more funds available.
  • GFH have provided proof of funds to show they have the money there to complete the takeover
Ken Bates said:

"It's been a long road but we are in a good place. Both sides have been in talks over the last few days to finalise this deal. We are keeping focused and hope to complete very soon. The inaccurate reporting of certain journalists who will remain unnamed does not help the situation. Their articles, based upon a lack of knowledge of the intricacies of the deal and the full facts of the positive intentions of GFH Capital, achieve little and lead only to retractions or public apologies at a later date."

David Haigh, deputy CEO of GFH Capital said:

"With the money in place, we are poised to make this deal happen pending agreements and arrangements which are in the interests of the future of Leeds United - we need to make sure all the finer detail is addressed before trading signatures. Despite what has been said recently in media, both sides continue to talk regularly and continue to work hard to get the job done."

Salem Patel, Board director and chief investment officer of GFH Capital went on to say:

"We understand there is some concern related to how Leeds United would be run under our stewardship. It remains important to be clear that Shari'ah law will not hinder this transaction nor will it affect the future operations of the club. Our intention is to provide investment which will facilitate a successful and sustainable future for Leeds United on and off the pitch."

So the deal couldn't be much closer by the sounds of it and we are nearly in a position to trade signatures. Just a little bit more waiting, it's not like we've waited long enough. To see the statement in full, click here.