Leeds takeover takes step forward
The takeover of Leeds has taken another step forward with GFH Capital proving they have the funds in place.
Last Updated: 26/10/12 10:28am
The Gulf-based group has also dismissed reports that the takeover will be complicated by Sharia law because of the availability of gambling facilities and alcohol at Elland Road.
Leeds chairman Ken Bates 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. The inaccurate reporting of certain journalists who will remain unnamed does not help the situation.
"Their articles, based upon a lack of knowledge of the intricacies of the deal and the full facts of the positive intentions of GFH Capital, achieve little and lead only to retractions or public apologies at a later date."
David Haigh, Deputy CEO, GFH Capital 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.
"Despite what has been said recently in media, both sides continue to talk regularly and continue to work hard to get the job done."
Salem Patel, Board Director and Chief Investment Officer, GFH Capital said: "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'ah 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."