By Andy Sambidge
Dubai firm at forefront of proposed takeover targets promotion 'as soon as possible'
The Dubai-based firm leading a proposed takeover of English football club Leeds United have said they aim to get the club back into the Premier League "as soon as possible".
Senior executives at GFH Capital said the club had "great potential" with the "right, sustainable investment".
In a statement published by the UK's Yorkshire Evening Post newspaper, the company underlined its commitment to reach a deal to acquire a majority stake from current chairman and owner Ken Bates.
“(GFH Capital’s) intentions, if successful in its acquisition, is to move the club back to the Premier League as quickly as possible and help to build a sustainable future for the club, both on and off the field,” the statement, cited by the newspaper, said.
David Haigh, GFH Capital's deputy chief executive officer, added: “As a club, Leeds United has it all – passionate fans, a great heritage and masses of potential to return to the Premier League with the right, sustainable investment.
“From a business perspective, ownership of an English football club, notably Leeds United, is a great opportunity if the right strategies are in place.”
The statement came after Gulf Finance House – the Bahraini investment bank which owns GFH Capital – confirmed that GFH Capital was fronting takeover negotiations with the club.
Discussions between the two parties have been ongoing since May.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.