GULF WEEKLY
Sports News
Looking at Leeds Posted On » July 11 - 17, 2012 (Volume:10 / Issue 80)
LEEDS UNITED last night moved a step closer to a change of ownership after it was confirmed the club, which plays in the second tier of English football, have entered ‘a period of exclusivity’ with one interested party believed to be led by a Bahraini supporter, writes Stan Szecowka.
Officials have been in discussions for several weeks with a host of would-be suitors over a possible buyout.
Among those bidding to get involved in one of the fallen giants of European football have been groups from the US and Canada, plus serious interest from at least one consortium with links to the Gulf region.
Various names, including members of Bahrain’s ruling family, have been bandied about by international media and online fan forums but no-one has confirmed being involved.
The group of Middle Eastern investors, with links across the region, are expected to complete a takeover of Leeds United this week, according to the latest reports.
It is believed to be headed by Shaikh Abdulrahman bin Mubarak Al Khalifa, a lifelong supporter of Leeds who was previously linked with a failed takeover of the club in 2003. Back then he told reporters: “I fell in love with the club when I was 11-years-old when Leeds played Chelsea in the 1970 FA Cup Final. Leeds mean everything to me, I was born to support them. Those who are closest to me, my friends and my family, know what Leeds United mean to me.â€
Friends of Shaikh Abdulrahman say he is currently visiting Europe and is not available to comment.
United’s complicated ownership structure – Ken Bates owns 72.85 per cent but mystery surrounds who has control of the remaining shares – plus neither its Elland Road stadium nor Thorp Arch training ground being under the club’s control, means putting a timescale on a deal being concluded is difficult.
Manager Neil Warnock, however, who took Queens Park Rangers into the English Premiership when the side was sponsored by Gulf Air, is likely to be buoyed by the news that the drawn-out saga is edging closer to a conclusion.
The club statement read: “Leeds United can confirm they have granted an exclusivity period to enable a potential investor to carry out the appropriate due diligence.
“It is anticipated this will be a fairly straightforward process. A confidentiality clause prevents the club from making any further comment.
“However, our discussions with them have left us very comfortable that they have the financial resources to support the club and that they will have no issues in satisfying the requirements of the Football League’s Owners and Directors Test, unlike many of the previous approaches we have had to endure.â€
Leeds United Supporters’ Trust chairman Gary Cooper told BBC Radio Leeds he understands the consortium bidding to invest in the club is from the Middle East.
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