GFH issue statement on Leeds United plans

Leeds United owners GFH have issued a statement in which they aim to clarify their position with regard to their plans for the club.

By The Newsroom
Wednesday, 20th March 2013, 3:07 pm

With speculation mounting that they were looking to sell the Elland Road club on for a profit just three months after taking over, the Gulf-based group have reiterated that they are looking for investment, but are not wanting to sell up all together.

The statement reads: “In March 2013, Gulf Finance House (GFH), parent company of Leeds United FC owner GFH Capital, published its financial audited report that stated it was looking to sell its stake in the club. To clarify and as previously stated, GFH Capital is looking for investment in part of its share in the club, not its entirety.

“GFH Capital has been transparent since acquiring Leeds United and is continuing to look for strategic investors in part of the club that can invest in Leeds United, alongside GFH Capital, to ensure a long term, sustainable future.

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“Since GFH Capital took ownership of Leeds United, it has fulfilled its promise of investing in the club, with around £10 million having already been injected into the club; to strengthen the squad and for other working capital purposes. Additional financial support will continue to be provided as required.

“Through cutting ticket prices, reducing 2013/14 season ticket costs and the introduction of half-season tickets, attendances have risen at Elland Road as GFH Capital continues with its goal of re-engaging existing fans and attracting new supporters to the club, plus the recent international soccer schools and ‘Take it to the Kids’ initiatives.

“To date, GFH Capital has fulfilled the plans pledged and its strategy for the club remains the same; to build a group of strategic investors to put Leeds United in the best position both on and off pitch for the long term.”