Gulf investors' deal for Leeds United 'imminent'

UK media report says proposed takeover will be completed 'in matter of days'
Gulf investors' deal for Leeds United 'imminent'
(Getty Images)
By Andy Sambidge
Fri 09 Nov 2012 11:01 AM

The takeover of Leeds United by a Gulf-based private equity group is expected to be completed "imminently", it has been reported.

The deal with GFH Capital, which is believed to be worth in the region of £44m, is set to go through in a "matter of days", the BBC said without saying where it got the information from.

Talks began at the end of May but the BBC said it was now a "question of the formalities".

In a statement published on the club's official website last month, Leeds United chairman 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," he said.

The unit of Bahrain's Gulf Finance House, which has already provided £2m to the club with further funds available, also said it was close to closing the transaction.

Protracted negotiations between Leeds and GFH Capital are in their sixth month and have sparked frustration from fans.

When completed, the Leeds United deal will be the latest Gulf-based takeover, following the likes of Manchester City, French club Paris Saint-Germain and Championship side Nottingham Forest.

Leeds are currently 15th in the Championship and have a Capital One Cup home quarter-final against Chelsea next month.

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