Chairman claims Leeds takeover close to agreement

The proposed takeover of Championship Leeds United is poised for completion, according to chairman and owner Ken Bates.

Bates told the club's website that Middle East-based private equity group GFH Capital has now provided proof it has the funds to close the transaction.

Bates said: "It's been a long road but we are in a good place. We hope to complete very soon."

However, in a joint statement, GFH deputy chief executive officer David Haigh warned there were still issues to be addressed.

He said: "With the money in place we are poised to make this deal happen, pending agreements and arrangements which are in the interests of the future of Leeds United - we need to make sure all the finer detail is addressed before trading signatures."

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