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.

Related:
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
Creating an empire: Inside the world of a wellness visionary

Creating an empire: Inside the world of a wellness visionary

Arabian Business travels to Italy to learn how Technogym's Nerio...

Dhow racing in Dubai

Dhow racing in Dubai

The race to Al Gaffal will see hundreds of dhows race in Dubai...

Brand slam

Brand slam

Gulf blue chips are now closely associated with most of the world...

Most Discussed
  • 24
    World's most pierced man refused entry to the UAE

    Tolerance has its limits everywhere including Dubai and those who considered Dubai a lawless circus were held accountable...so thank you Dubai authorities... more

    Thursday, 21 August 2014 10:51 PM - Khalil
  • 23
    Baby NOT on board?

    Some of you cry babies need to get your own personal apartments on the plane ! You cry more then the babies I have seen in my travels. LOL more

    Thursday, 28 August 2014 9:10 AM - Jim
  • 21
    Israel “must be punished” over Gaza, says Dubai police chief

    This high moral ground that Mick is talking abt sound very familiar. May I remind Mick that the US & its British ally alone killed over 1 million innocent... more

    Thursday, 7 August 2014 4:12 PM - Mathew