Arab Today, arab today bahrain bank close to leeds utd takeover
Last Updated : GMT 15:32:39
Arab Today, arab today
Arab Today, arab today

Bahrain bank close to Leeds Utd takeover

Arab Today, arab today

Arab Today, arab today Bahrain bank close to Leeds Utd takeover

Leeds - AFP

Leeds United of the English Championship are set to become the latest club to come under Gulf financial control after a Bahrain-based investment bank agreed a takeover deal, both parties have announced. The takeover by GFH Capital, a subsidiary of Gulf Finance House, understood to be worth around 50 million pounds ($75 million, 63 milion euros), has been in the pipeline for nearly six months but the bank have finally given Leeds owner Ken Bates the assurances they have the funds to complete the transaction. Bates, who who took control of \"sleeping giants\" Leeds in 2005, said: \"It\'s been a long road, but we are in a good place. Both sides have been in talks over the last few days to finalise this deal. We are keeping focused and hope to complete very soon.\" GFH Capital announced last month that they had signed an exclusive agreement to lead a takeover of Leeds after they had notified the Bahrain and Kuwaiti stock exchanges. Deputy chief executive officer David Haigh said: \"With the money in place, we are poised to make this deal happen pending agreements and arrangements which are in the interests of the future of Leeds United - we need to make sure all the finer detail is addressed before trading signatures.\" There had been speculation that GFH\'s Islamic background could have been a stumbling block to any deal, but director and chief investment officer Salem Patel insisted that the operation of the club would not be hindered by Shari`a law. \"We understand there is some concern related to how Leeds United would be run under our stewardship. It remains important to be clear that Shari\'a law will not hinder this transaction, nor will it affect the future operations of the club.\"Our intention is to provide investment which will facilitate a successful and sustainable future for Leeds United on and off the pitch.\" Bates, 80, has become increasingly unpopular with the fans due to a perceived lack of investment in the playing squad, while the club have made pre-tax profits of more than £10million since the summer of 2007. When the takeover was announced last month, the chairman of the Leeds United Supporters Trust, Gary Cooper, described the development as \"great news\". \"The Trust has been calling for the potential buyer and the club to say something and this is what we\'ve all been waiting to hear,\" he was quoted as saying on the website of the Yorkshire Post newspaper. The acquisition comes against a backdrop of massive financial investment in football clubs by Gulf-based institutions, most notably at English Premier League champions Manchester City and French club Paris Saint-Germain.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bahrain bank close to leeds utd takeover Arab Today, arab today bahrain bank close to leeds utd takeover

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bahrain bank close to leeds utd takeover Arab Today, arab today bahrain bank close to leeds utd takeover

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday