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Mon 1 Apr 2013 03:28 PM

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Dubai owner of Leeds Utd says mulling more stake sales

GFH Capital sold stake in the second tier Championship side to Bahrain's International Investment Bank

Dubai owner of Leeds Utd says mulling more stake sales
Leeds United fans. (Getty Images)

The Dubai-based owner of English football club Leeds United said that it is currently evaluating the possibility of selling further stakes in the team, after it offloaded a 10 percent shareholding.

Last week, owner GFH Capital sold the stake in the second tier Championship side to Bahrain's International Investment Bank (IIB) for an undisclosed amount, having itself only bought the club in December.

In a statement to Dubai Financial Market on Monday, GFH Capital said that it had "received several offers from a number of investors, which are currently being studied and evaluated".

The statement to the bourse added that the share sale to IIB was part of GFH's plan "to bring together a consortium of like-minded investors for the successful and sustainable ownership" of the club.

The team are currently placed 11 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.

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Bluesmand 7 years ago

Poor Leeds United team. Shocking result against Derby; No quality; business end may be being shored up but the team is rubbish! No investment in the squad! League One next season!!

Bluesman 7 years ago

They need to come quickly as possible after the performance against Derby County today. Shocking! And it is not Neil Warnock's fault. The team has no quality and some of them have no guts. This is one of the worse Leeds Team that I have ever seen, apart from the team that we had last year! GFH have stabilised the business side, apparently, but the team lacks investment!! They are now in a relegation battle and may be in League 1 next year!

jim hemingway 7 years ago

Leeds United the only one of the top six big clubs outside the premiership. Leeds is a one club city with a population of 750,000 making it England's third largest city behind London and Birmingham. For anyone interested in a football club this is the one they should buy outright.

paolo 7 years ago

hope the new investors bring some funds into the club our team at the moment lacks a midfield general and wide player with pace
we should have gone up this season if experienced players had been brought in sooner the championship has no outstanding teams this season.
Gus poyet would be my favourite for the managers job,we don't want mark hughes for his previous expoits.
Could we beat derby today,it's up to warnock bring a couple of youngsters in nothing to loose.
Salford Yanks no double this season...wot a pity the prem definately needs a leeds united in it,fed up of hearing the 2 manc's teams winning.

mot

Chris w 7 years ago

It is Warnocks fault - he brought the squad together

steve 7 years ago

The trouble with leeds is they will always be competing with the past, they wont ever get away from it, i support leeds but this team is absolutely rubbish,most of the team cant even pass a ball ,they are the worse bunch of footballers ive seen ,me and my kids could beat em, get a proper manager ,spend some money and then you might just have a chance,if not forget it

MODESTO 7 years ago

This side has been trying with mainly British talent for too long to do well, when there is the option of cheaper and much superior talent from the continent.Can't they have a look at Watford, Brighton etc.?