The Straits Times
www.straitstimes.com
Published on Dec 21, 2012
 

Dubai's GFH Capital takes ownership of Leeds United

 
 

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.