GFH Capital wants Leeds all to itself
According to GFH Capital, it wants to buy the football club Leeds for itself and is not acting on behalf of a third party. The bank plans to acquire all 100% of Leeds City Holdings Limited's equity in an all-cash deal. In case of a successful bid, the chairman and owner of the club - Ken Bates - would sever all ties with the club. Even though discussions about the transaction have started about half a year ago, it is still not certain where the bank would find the cash to finance the deal. The sum is estimated at about $81m. The bank's parent - Gulf Finance House - claims to be short of finance.