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So exactly who does own Leeds United?
So exactly who does own Leeds United?
Thursday, 15th Aug 2013 20:24 by @markmonk

Should we be worried by the latest news that GFH Capital now own less than half of Leeds United?

Reports on Thursday afternoon claim that GFH Capital have sold another stake in their holding of Leeds United AFC and now own less than 50% of the club.

Granted, we knew that Bahrain based IIB investment bank took a 10% shareholding earlier this year and more recently Envest Ltd, the company owned by new Leeds Chairman Saleh Nooruddin took their shareholding to 10% - so who owns the rest.

GFH reportedly made £500,000 profit out of the latest sale, their shareholding is now believed to be worth £22m. Last December they paid Bates a sum believed to be £52m after over seven months of delicate negotiations.

Leeds have yet to comment on this story.

For the average bod in the stands, it is very difficult to analyse whether this is good or bad news. Putting aside the risk of sounding like that plank Ronnie Irani when he used to be way out of his depth discussing anything non-cricket, particularly financial and business matters on Talksports "Alan Brazil's Sports Breakfast", I suppose there are some good signs to this news even though it seems unlikely Brian McDermott will get a huge, late transfer booty to spend before the end of the month.

The fact of the matter is, GFH have managed to bring on board at least three significant investors to the table in just eight months whereby Bates failed to bring anyone in other than mysterious offshore companies in eight years.

In an ideal world, we would have a sugar Daddy with gold lined pockets like West Ham's soft-porn peddlers and the bloke who owns Hull City, but it seems GFH who lets be fair don't seem to have a pot-to-piss in, are rapidly becoming fund-managers rather than owners.

Obviously we will have to wait and see where this leaves Leeds, at the very least we can hope is it will quell stories like the one in this morning's Yorkshire Post that claimed the club are so desperate for cash El Hadji Diouf would be sold.

Photo: Action Images



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