Dubai owner of UK's Leeds Utd sells 10% to Bahrain bank

  • Share via facebook
  • Tweet this
  • Bookmark and Share
Leeds United fans. (Getty Images)

Leeds United fans. (Getty Images)

The Dubai-based owner of UK football club Leeds United has sold a 10 percent stake to Bahrain’s International Investment Bank (IIB) for an undisclosed amount just three months after acquiring the team.

The side, which plays in England’s second tier The Championship league, were in December last year bought out by Dubai’s GFH Capital.

Last week, GFH denied media speculation that it was looking to sell the club, but stated that it was looking for fresh investment.

"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," David Haigh, deputy chief executive of GFH Capital, said in a statement on Thursday.

As part of the deal, IIB CEO Aabed Al-Zeera will join the board of the side’s holding company, Leeds City Holdings Limited.

The team are currently placed 10 in the Championship and have spent much of a tumultuous last decade yo yo-ing between divisions as the club struggled with financial difficulties.

In December, Leeds United Football Club posted an operating loss of more than GBP£3m.

The figures showed that turnover was also down 4.9 percent in the year to June 2012.

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: Tom

How have Leeds spent the last 10 years "years yo-yoing" between divisions we went down to league one from championship then back up again. Hardly a yo-yo club!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Is this the end of F1?

Is this the end of F1?

By this time next year, five of the current 11 Formula One teams...

Football focus: Premier League’s big spenders

Football focus: Premier League’s big spenders

How the British clubs spend millions to survive in the world...

Hole in one: Golfing in Dubai

Hole in one: Golfing in Dubai

Teeing-off in Dubai is becoming ever more interesting, with several...

Most Popular
Most Discussed