Bahraini owners give notice on Leeds United sale

Bahrain-based Gulf Finance House (GFH) have given notice on their plans to sell Leeds United just three months after taking over reports The Guardian.

The Islamic investment bank purchased the West Yorkshire outfit from Ken Bates on December 21 and are now seeking a buyer for the next six months to a year.

"The group has an active plan to sell its stake in LUFC Holdings [the company which now owns Leeds]," the GFH financial statements say.

"Subsequent to the year end, [GFH] has commenced negotiations relating to the sale of its stake in LUFC Holdings."

GFH suggested they paid £22million for Leeds United, with £16m of that going to Monaco resident Bates, and have assessed the club to be worth around £30million.

 
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