Leeds anxious as buyers Gulf Finance House Capital fail to pay: Charles Sale

Leeds anxious as GFH Capital fail to pay on time

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UPDATED:

01:33 GMT, 12 December 2012

Doubts about the proposed takeover of
Leeds United by Bahrain-based bank Gulf Finance House Capital — due to
be completed four days before Christmas — will grow after a scheduled payment date was missed.

The Middle East investors, whose
fit-and-proper-persons test by the Football League for club owners and
directors is ‘ongoing’, failed to transfer a tranche of money to Leeds
last week.

Up for grabs: But who will own Elland Road later this month

Up for grabs: But who will own Elland Road later this month

This will only add to supporters’
concern about the lack of transparency concerning the purchase of the 49
per cent shareholding of 81-year-old owner Ken Bates, who is due to
stay on as chairman until the end of the season before becoming club
president.

However, Leeds are still confident
that the reported 52million sale will be finalised on December 21
without any more hiccups. It is understood they have been reassured by
GFH Capital that the money is in their lawyer’s client account and
Bahrain banking regulations meant the payment schedule had to be
altered.

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