New information has come out on a potential Bahrainian takeover of Leeds United nearly three weeks since Leeds United released their latest statement, confirming an exclusivity and confidentiality agreement with an interested party who was undertaking due diligence. The Bahraini Information Affairs Authority, who had previously denied involvement in a takeover of Leeds, were contacted again today by BBCâs Adam Pope and had the following to say: please log in to view this image Adam Pope@APOPEY An interesting development in the proposed takeover or major investment at #lufc by Bahrain Sheikh Abdulrahman bin Mubarak Al-Khlaifa. please log in to view this image Adam Pope@APOPEY The Bahrain Information Affairs Authority, having told @ BBCLeeds no member of the Bahrain ruling family was considering a move for #lufc please log in to view this image Adam Pope@APOPEY Bahrain IAA now say."It may be correct the person in question is involved in a takeover bid for the club with financial investors." #lufc please log in to view this image Adam Pope@APOPEY #lufc Bahrain IAA added: "This is strictly a private deal & has nothing to do with any official department of the government." @BBCLeeds This comes three days after ITV ran an interview with Gulf Weeklyâs New Editor who said: [Sheikh Abdulrahim] may be heading the consortium, rather than funding it. He is a well respected gentleman and heâs got some very good, influential and wealthy friends. Heâs a very devoted Leeds fan from what weâve heard. We got the impression it would be announced in the next few days. With pessimism growing among fans, this string of stories will be a welcome reinforcement to the rumours of a Middle-East based consortium headed by Sheikh Abdulrahman bin Mubarak Al-Khalifa. Sheikh Abdulrahman showed interest in purchasing Leeds in 2003, when the club were over £70m in debt, but did not follow up on his interest. The member of the Bahraini ruling dynasty is a Leeds fan, and although the Telegraph ran a story his reportedly unpaid £375,000 gambling debt, this is unlikely to cause any issues with Ken Bates making no secret of his cynicism towards potential investors until they prove they have the funds required to purchase or invest in the club.
Two separate sources are saying words to the equivelent of :- We got the impression it would be announced in the next few days. Also, the use of the word takeover is used, NOT investment....
Dont get too excited Ellend he is trying with a consortium and its already collapsed once Chickens and hatching wink wink please log in to view this image
Can't pay a gambling debt, has this bloke got any money, all sounds more worrying to me. Sounds more like he is having a problem raising the funds or am I reading this all wrong?
I think you are. Wayne Rooney's had a gambling debt before, doesn't mean he couldn't pay it. Also it seems he's being backed by other people's (possibly Saudi) money, and they've already provided proof of funds.
I hope its not a case of "Better the devil you know..." I really do hope this comes off but what is the delay.... I know Bates was a bit cheeky when he sold Chelsea... but does it take this long?
Of course it takes this long. This is a multi million punt deal, complicated further by the numerous off shore companies set up by Bates and others to disguise their business activities. Due diligence began approximately three weeks ago seemingly. That is not an unreasonable period of time to spend unravelling Bates companies. There might be some time left in this, but I hope not
Spot on Eire. I wonder how much time those doing the DD work check to make sure they have all their body parts still attached at the end of each day.
So a source not involved in the supposed takeover has told a journalist that he has already spoken to that it MIGHT be
OR a group involved with the government run by the bidder's family have completely changed their tune to pretty much confirm it's him.
Would be true if the family actually knew the bidder "The Bahraini authorities claim not to know Al Khalifa" http://abna.co/data.asp?lang=3&Id=252465
What rubbish will you lads come up with when takeover is done and were back spending. Where will you find negative stuff to post. Im actually looking forward to seeing what you two come up with
The fact that the books have been in the hands of the proposed new owners for three weeks now and nothing has happened suggests to me that the books have probably been 'cooked a little', that Ken is a good cook, although this recipe spells Disaster
Do we really want a gambling addict running our club? Smacks of desperation to be happy with such a situation and has echos of Portsmouth, Notts County and Leicester Can't we just get a sensible business man who know how to use the money we already create to build a good team and a great brand slowly and with solid foundations
