Thursday, May 28, 2015Thursday, May 28, 2015
News
 

Dubai's GFH Capital takes ownership of Leeds United

Published on Dec 21, 2012 7:56 PM
 

LONDON (REUTERS) - Dubai-based GFH Capital have completed the takeover of former English football champions Leeds United, seeking to make the second-tier club a power in the game again.

In a deal worth a reported £52 million (S$103.2 million), GFH have bought the club from majority shareholder Ken Bates, a familiar figure in the English game who was previously owner of Chelsea.

Bates, 81, is not severing all ties with Leeds. He will remain club chairman until the end of the season.

Agreement was first announced a month ago and the details were finalised on Thursday evening, the club said in a statement on its website.

 
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!