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

I

think Finnegans Wake would have been a better reference point than Ulysses. Far more rambling and incomprehensible.

debra2927
Football People On TV: Garth Crooks

I

f I recall correctly, Degsy predicted a 100/1 shot correctly the week after his 150/1 Blackpool 4 - 3 Bolton call. I stuck a fiver on it as an idle bet. Paid for a stag do in Munich. Heady days...

baldini
Backing Hull To Beat United 2-1...

R

odgers prefers Joe Allen to Lucas? If this is true then I'm setting aside a fortnight to finally learn the rules of American Football and I'll give up on real football.

godzilla
The Jammy Gossip

Footer 365

Carlton Cole doesn't know if he will stay at West Ham next season

West Ham striker Carlton Cole revealed he still does not know where his future lies beyond this season.

Louis van Gaal believes David De Gea will stay at Manchester United

Louis van Gaal believes David De Gea will stay at Manchester United despite speculation linking him with Real Madrid.

Roy Hodgson wants Steven Gerrard and Frank Lampard on England coaching staff

Roy Hodgson wants Steven Gerrard and Frank Lampard on the England coaching team when they retire from playing.

Mail Box

Only One Real Manager Of The Year

Winning the Premier League with the best squad in the Premier League is only par; Ronald Koeman did a whole lot better. Plus, the last word on Raheem and...

Don't Slate Sterling For Ambition...

Raheem Sterling deserves credit for his desire to quit Liverpool, according to one mailboxer. Also: why football should not be compared to business and Degsy's latest spot of bother...

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