GFH Sell First 10% To International Investment Bank

After the last few weeks of confusion as to what was going on behind the scenes at Elland Road, GFH capital have sold 10% of the club to an International Investment Bank based in Bahrain (IIB).

Certain parts of the media believed that GFH were on the lookout to sell the club completely in order to gain a quick profit, however this latest move seems to rubbish that for now.

In a statement on the club's official website, David Haigh stated:

"The introduction of IIB is in keeping with what have always been GFH Capital's aims for the successful, sustainable and long term ownership of Leeds United FC.

We believe that a consortium of like-minded investors provides the best ownership model for a club which belongs among the elite of English football clubs and global sporting brands.

It is our aim to provide the finance and the stability to enable the club to complete that journey as soon as possible."

It looks as if this will be the first of many investors to come to the fore and the statement, which can be read in full here, revealed that the CEO of IIB, Aabed Al-Zeera, will join the board at Elland Road.

Al-Zeera said:

'We are delighted to become investors in Leeds United and would like to thank GFH Capital for facilitating this for us"

GFH have taken plenty of abuse from United supporters of late, especially on social media sites. Hopefully this is the start of them putting together the investment to improve matters on the pitch. Some financial backing for the manager, whoever that may be next season, would be great.