Last week, when media flashed news citing Leeds United Football Club’s owner’s GFC Capital’s intentions to sell a stake of their holdings, nobody believed; even GFC backtracked from their consolidation balance sheet’s facts. Actually, Gulf Finance House acquired English club back in December and since then they put its assists and liabilities as ‘held for sell’ in their consolidated balance sheet. When media unearthed their talks with a Bahrain-based company for a possible sale, they refused to confirm the report. Now, everything is clear coz GFC has finally sold 10% of its stake in the football club to a Bahrain-based International Investment Bank. Over their selling, GFC said it is their strategic move to lure more investors to improve Champion League’s club position and probably its possible entry into EPL. Deputy chief executive of GFH Capital, David Haigh, said over their stake sale, “The introduction of IIB is in keeping with what have always been GFH Capital's aims for the … [Read more...]
Leeds new owners promise to return its glory days
Last week, Dubai based GFH Capital extended their existing 33% stake in iconic English club Leeds United to 100% and became the new owner of it. Post-acquisition, GFH officials are now preparing to take over the top positions in Leads’ board of directors, including its chief operation officer. The new management has various plans to improve the miserable position of once ruling English club to return it in its glorious days. The new director of Leads said about their optimistic takeover, “We are looking forward to a bright future and we regard this is a fresh start for the football club that we hope will make the fans happy, both old and new. From a business point of view this is an exciting investment and also an exciting opportunity for GFH Capital and we are looking forward to marching on together.” Even the fans have now a hope that their favorite club will again be in top ranking clubs in English Premier League. New owners have reportedly received more than 4000 emails and … [Read more...]