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...]