Morning Everyone, Who feels that a big weight has been lifted off their shoulders? Here are some of the facts :- The deal does not involve the purchase of Elland Road, which belongs to a British Virgin Island registered company, Teak Commercial Ltd, with the club paying around £2m per annum in rent. GFH Capital deputy CEO David Haigh joins the board with immediate effect – with fellow GFH Capital executives Hisham Alrayes and Salem Patel joining next month. Bates, 80, will stay on as chairman until the end of the season to assist the new owners before becoming club president. As an immediate gesture after the takeover news, new board member Haigh, a Leeds supporter, has confirmed additional funds have been made available by GFH Capital for Neil Warnock to utilise with the United boss working feverishly to bring in some new blood ahead of the closure of the emergency loan window at 5pm today. (5PM TODAY, DON'T PANICK, DON'T PANICK) Gary Cooper, chairman of LUST said: “GFH Capital have talked a great game all the way through this and they have talked about a really ambitious future. “If they can do what they have promised, then great. But I do feel there is going to be a problem with Ken Bates remaining as chairman to begin with and then president. In my view, it is going to make things incredibly difficult and I think it is a mistake. An awful lot of the Trust’s members take the same view.” Will there be time to sign one, maybe two players bewfore 5pm this afternoon, who will they be? Should we just wait til January when more players will be available?
Morning Elland. A bit of sour grapes by LUST I feel. We may not want KB staying on in any capacity, but president is hardly anything other than a figurehead position. Hope Warnock has been up all night wheeling & dealing. Anyone fancy a job as his coffee pourer? Likely to be a busy & long day.
Eurofin Capital 'ECL', a private investment office based in London and Lausanne, announces it is the financial advisor to Leeds United Football Club on its sale to GFH Capital Limited 'GFH Capital', the Dubai-based investment bank. Following approval of the transaction by the Football League, GFH Capital will be the 100% shareholders and will inject further funds for working capital and to support manager Neil Warnock's intentions to strengthen the team. Commenting on the deal, Andrew Umbers, Director of ECL, commented, "We are delighted to have been involved in this transaction. Creating the right legacy to build on the prudent stewardship of Ken Bates was always one of our chief objectives and we believe that GFH provides this." "Sports franchises and their fan bases share the same passion but rewarding both the owner and the fan is a challenge in all sports. At Eurofin, and within our sports franchise, we believe our blend of financial and sports know how creates this marriage," he added.
Apart from him being able to extract a bit more money from the new owners should they want the stadium, none that I can see.
...you tell that to Abrama... Is the dodgy Russian a president, chairman, or simply a dodgy Russian oligarch? Whatever else he might be, KB will never wield as much power as Abramavitch
Morning all. Great news. Agree with LUST. The litmus test will be February 1st. That gives gfh a ten week honeymoon period. It will be easier judging them at that point when we will be able to see exactly what level of strengthening has happened in playing squad. I'm confident and for once, it's a great feeling being a Leeds fan again. Didn't we get some coverage on sky over past 24 hours eh?
Good post Eire. Spot on with the date & length of honeymoon period. Anyone know who's granny's best friend's aunty's sister's niece's boyfriend's brother will be sitting outside the gates of ER watching today to see who's coming in for a medical before signing on the dotted line? More to the point, any truth in the rumour that Messi has found a liking for Yorkshire pies & Sam Smith's ale?
Morning Matt “If they can do what they have promised, then great. But I do feel there is going to be a problem with Ken Bates remaining as chairman to begin with and then president. In my view, it is going to make things incredibly difficult and I think it is a mistake. An awful lot of the Trust’s members take the same view.” **** all has changed with Coco still there When will the deluded Leeds fans realise that!?
Morning Phil As if Has to be said though mate that we'll see if there's a huge surge in attendance against the Nigel's won't we? You haven't been sucked in mate surely after everything Coco has done too screw you boys over?
No mate, whilst Bates is still there there's bound to be something dodgy going on What I will say though is at least there's some light at the end of the tunnel now ****ing long tunnel though
No power whatsoever Simon, but he's still Chairman till the end of the season, showing the new guys the ropes. It's like being taught to drive by someone who's been disqualified for reckless driving
I only found out about the last one when he died. Its a title, nothing more nothing less. Haigh & co will not let Bates interfere with anything, its there money/investment not Bates. You dont build up a personal wealth like these guys have by letting people walk over you. Bates probably wanted power for the Chelski clash & this was a compromise to force the deal through. He didnt last long as President for Chekski did he? Believe me I want him as far away from ER as possible, but this is a means to an end.
Bates wont be of any help. He cant exactly show the new lot how to siphon monies into his other accounts and charge them as an advisory fee can he!
Warnock expecting at least 1 loan signing before 5pm deadline. Maybe even 2, he's meeting GFH on Saturday. Sounded more upbeat today and said takeover has opened curtains
