Radio 5 live says GFH CAPITAL BUYS LEEDS

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On the bbc sportsday -
0849:
FOOTBALL
The Middle-Eastern investment bank, Gulf Finance House (GFH), confirm they have signed an exclusive agreement to lead a takeover of Championship side Leeds. A letter reveals: "GFH would like to confirm that GFH Capital Limited, a 100% subsidiary of Gulf Finance House, has signed an exclusive agreement to lead and arrange the acquisition of Leeds City Holdings, the parent company of LUFC."
 
This actually says no more than what Bates said on Saturday. The time to celebrate will be when they force the metaphorical keys to Elland Road out of his hand, burn his furniture and put him on a plane back to Monaco.
 
Jugster said:
This actually says no more than what Bates said on Saturday. The time to celebrate will be when they force the metaphorical keys to Elland Road out of his hand, burn his furniture and put him on a plane back to Monaco.
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The difference is its GFH saying it, not Bates. They are acting for the ultimate buyers and have been hot on confidentiality and silence, so its highly significant. Plus its more than Bates said.
 
While I welcome the news 100% I must say I have slight doubts about GFH (although agree 1000x better than Bates and would take the offer in a heart beat).

In 2009 and 2010, Gulf Finance House recorded losses of around £450m and £215m respectively. According to accounts for the year leading up to December 2011, published on the company’s website, the losses for 2010 were due in large part to “impairment allowances” – in simple terms, a reduction in the value of certain assets. During that year, the bank underwent what it called “radical restructuring” in an attempt to adjust to the worsening financial climate and ensure it was “well positioned to lead the region’s Islamic banks as growth returns to the Gulf financial markets in 2012.”

Gulf Finance House’s turnover in 2011 was close to £43m, yielding a profit of £235,000. In the six months leading up to July 2012, an income of almost £20m produced a financial gain in excess £3.5million. There is no outline yet of exactly how a takeover of Leeds or subsequent investment in the club would be funded but Gulf Finance House is in the picture at a time of profitability. It recently announced agreements to restructure outstanding debt.
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Clearly they want us in the Premier League as it is worth £60m to them and clearly they will want us to survive in that division but we have to remember they are investors who will be looking to make a profit. It is all rosey now and I am as excited as the next person, I just hope I am feeling the same in 3,4,5,6 years time.

I just have a sneaky feeling we might be in for an exciting 3-4 years followed by more frustration.
 
ristac said:
Clearly they want us in the Premier League as it is worth £60m to them and clearly they will want us to survive in that division but we have to remember they are investors who will be looking to make a profit. It is all rosey now and I am as excited as the next person, I just hope I am feeling the same in 3,4,5,6 years time.
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Most club owners look for a profit, if the club is run well then we have no reason to think the clubs aims and the owner's aims can't run parrallel.
As long as they're not as greedy and gobby as Ken, I think we can look to a positive future!
 
ristac said:
While I welcome the news 100% I must say I have slight doubts about GFH (although agree 1000x better than Bates and would take the offer in a heart beat).



Clearly they want us in the Premier League as it is worth £60m to them and clearly they will want us to survive in that division but we have to remember they are investors who will be looking to make a profit. It is all rosey now and I am as excited as the next person, I just hope I am feeling the same in 3,4,5,6 years time.

I just have a sneaky feeling we might be in for an exciting 3-4 years followed by more frustration.
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Better than 10 years of feeling nothing but frustration though pal :)

GFH have announced it to the stock market
 
ristac said:
While I welcome the news 100% I must say I have slight doubts about GFH (although agree 1000x better than Bates and would take the offer in a heart beat).



Clearly they want us in the Premier League as it is worth £60m to them and clearly they will want us to survive in that division but we have to remember they are investors who will be looking to make a profit. It is all rosey now and I am as excited as the next person, I just hope I am feeling the same in 3,4,5,6 years time.

I just have a sneaky feeling we might be in for an exciting 3-4 years followed by more frustration.
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Its reassuring they mention the £60m. I had always assumed that was what Bates was after, only to find it was not as high priority for him as I had imagined. wE DON'T KNOIW WHO IS BUYING US YET - SO WE? - AS GFH are "leading and arranging". That might mean they will own part of the company, or might not, its not yet clear to me.

But based on their letter, I think we can expect NW will get the cash to get us up (though this year will be problematical I think). How much they will want to spend to get us into the Champions League, though, is anyones guess. Nice to be able to even ask the question, though <ok>
 
I received a reply to a tweet last night from one of the GFH guys saying how great a job Neil Warnock is doing. Looks like they're chuffed with him so you'd imagine they wont mind throwing a big bag of cash at him. Some new players and improved contracts for the likes of Diouf
 
Even if these guys only get us up for one season, it will be massive. The parachute payments will then ensure we bounce straight back up, but would have brought in massive revenues in season 1. WBA have budgeted for bouncing every year, because they make a fortune doing it, and don't leave themselves wide open with crazy player contracts. This allows them to keep adding quality bit by bit until they get to a position of being a solid prem side.

After 10-years of strife, I think promotion beckons at long last, as long as Warnock can bring in a couple of quality loans and then a couple of majore signings in january. fook off Bates
 
If £200m is the real number, I reckon ER and TA are being purchased and whatevers left goes to the player pot.<ok>
 
I just want to sit with a smoke and some beers at home glued to every internet channel and every networking forum until the news comes through..... please let it be true....please, please, please.....
 
Surely teams like Spurs are turning a profit? If they aim high for a similar amount of success surely we will be more than substantial but be turning a profit?We have no debts as it is and with investment this season who knows? We have played Blackpool Notts forest and Blackburn already on a skeleton squad and got a result against Everton.

Amazing how a week can change your outlook. Lets hope we dont paper over the cracks but knock the ****ing wall down and go for it <ok>
 
bucks_is_leeds said:
Surely teams like Spurs are turning a profit? If they aim high for a similar amount of success surely we will be more than substantial but be turning a profit?We have no debts as it is and with investment this season who knows? We have played Blackpool Notts forest and Blackburn already on a skeleton squad and got a result against Everton.

Amazing how a week can change your outlook. Lets hope we dont paper over the cracks but knock the ****ing wall down and go for it <ok>
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Couldnt have said it better myself mate
 
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