Leeds United chairman Ken Bates has told fans not to place the blame for the drawn-out takeover of the club at his door. Bates opened negotiations with Bahrain-based Gulf Finance House (GFH) in June but, despite a series of statements and counter-statements from both parties, a deal remains unsigned. According to Bates, the delay is nothing to do with him, with the former Chelsea owner claiming he is ready to sign over a club he took control of seven years ago. “I’d like to be able to say something but there is a confidentiality agreement which seems to be a bit one sided,” he said today. “It makes it difficult to say anything. The real problem is their lawyers because this is a straightforward deal, by anyone’s standards. I don’t know what the delay is, they appear to try and make complications when there is no need to do so. “I understand the share purchase is 171 pages long and I question if they are acting in their client’s best interests. GFH want to complete a deal and we are happy to do a deal with them, but when last-minute things are slipped in, it makes things very difficult. “By GFH’s standards this is not a big deal, so I say to Leeds fans, don’t blame me.” --------------------------------------- The hold up seems to be GFH wanting no debts, Bates doesn't want to pay off selected creditors with his £50m. Bates says he will walk immediately and wants to go, I always worry when he is so keen, could GFH have a valid reason for adding clauses?
Of course they do. Bates is a compulsive liar. Any excuse he has is bollocks, any clauses are to protect gfh from bates bullshit
Always follow the money. If GFH have none or cannot access it to buy him out Bates will be staying... simples
I wonder if GFH have chatted to Roman A. and learned how many fingers he had left after shaking "Mr. Chairman's hand."
