New Leeds offer turned down

Leeds United owners GFH Capital have rejected an offer from a Yorkshire consortium to purchase a majority stake in the Championship club.

Last Updated: 11/02/13 at 08:18 Post Comment

Speculation continues to mount at Elland Road over investment partners and manag

Speculation continues to mount at Elland Road over investment partners and manag

It was reported that the unidentified group was bidding for a 51% initial share with a view to a phased buy-out.

However, a statement on the club's website by GFH Capital, the Dubai-based investment bank who completed the takeover from chairman Ken Bates for around £52m in December, read: "The most recent offer has not been accepted.

"Although we continue to seek strategic investors, we will only bring on board those who we feel can make a positive contribution to the sustainable success of Leeds United."

Bates is still chairman and is set to become honorary president at the end of the current campaign. They are 11th in the championship and five points away from the play-off spots.

GFH expressed their satisfaction at what had been achieved since announcing they had acquired the club on 21 December by saying they were "delighted with the progress".

The statement added: "On the pitch, we were thrilled to bring in quality players such as Steve Morison, Michael Tonge, Stephen Warnock and Ryan Hall.

"They, along with our extended contracts for El Hadji Diouf and Sam Byram, are great additions to the squad and will provide a great boost as we head further into the second half of the season. There is also the FA Cup 5th Round tie against Manchester City to come and we know you are all as excited about that as us.

"Off the pitch, we have made significant investment of working capital that was crucial to keeping the club running. On top of producing the best results on the pitch, it is our aim to expand and strengthen the Leeds United brand both here in Leeds and across the globe with the thousands of fans that follow the club from abroad."

Uncertainty and speculation of staff changes continue to hamper manager Neil Warnock, whose contract expires in May, with the club's Supporters Trust demanding the situation be clarified.

Warnock, however, is staying cool on his role and said on Friday: "My future will be decided on the field anyhow. I wouldn't be here if I didn't think we could still get promotion."

Related News

Most Commented

Readers' Comments

W

ell that really inspires me with confidence. No point in training, deciding on a coherent formation, or playing players in their best positions, let's just hope we get lucky.

mumbo_jimbo
Van Gaal: Luck is key

I

believe this is because for sepp Christmas is a 7 day feast finishing on the 25th

hiya
Blatter calls for early final

F

alcao really needs to shine now. Apparently according to the stats, he scores more when played up front alone. I wonder if Van Gaal will actually apply a formation to get the best out of him though.

anthracyte
Van Persie lay-off expected

Footer 365

Ronny Deila refuses to think of title after Celtic beat Aberdeen to extend lead

Ronny Deila warned against complacency after Celtic moved six points clear at the top of the Scottish Premiership table.

Wes Brown red card against Manchester United appealed by Sunderland

Sunderland have announced they will appeal against the red card shown to Wes Brown at Manchester United on Saturday.

Glenn Murray hails Alan Pardew as spark of Crystal Palace turnaround

Glenn Murray has paid tribute to Alan Pardew for engineering his rebirth as a Crystal Palace player.

Mail Box

Are Tottenham Right To Redevelop?

It's a really good Friday afternoon Mailbox, with thoughts on Spurs' ground development, the Europa league (leave it alone) and one man running for a very good cause...

Rodgers Is More Of A Paisley Than A Rafa

Most Liverpool fans in the Mailbox are claiming to be pleased to see the back of the Europa League. Plus merging the Europa and Champions League, and winter WC...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company