Member Article

Bahrain’s GFH sells further stakes in Leeds United FC

Bahrain-based investment firm Gulf Finance House has agreed to sell a partial stake in Leeds United Football Club to a consortium of British Investors for an undisclosed amount.

GFH said the sale was agreed with British investors, whose details the firm did not specify in a bourse statement.

According to thenational.ae, in a statement yesterday the investment firm said: “Investors are currently in their final stage to fulfill their subsequent obligation to complete the transaction and obtain approval from the English Football Association.”

The firm bought the English football club in December 2012 through its subsidiary GFH Capital, based in Dubai, but has since disposed more than half its holdings in the six months after the buy-out, its financial statements have shown.

The company paid £52 million pounds ($80.4 million) to buy Leeds from previous owner Ken Bates, reported to have been sacked as lifetime president of the club in July over his use of a private jet to travel to matches.

This was posted in Bdaily's Members' News section by Clare Burnett .