Gulf Finance House Says it is Arranging Purchase of Leeds United
Bahrain-based Gulf Finance House’s GFH Capital Ltd. unit has signed an exclusive agreement to lead and arrange the acquisition of the parent company of English soccer team Leeds United, the company said in a statement.
Leeds, a three-time English champion, plays in the Championship division, one level below the Premier League. It was relegated from the Premier League, soccer’s richest domestic competition, in 2007 after suffering financial difficulties.
“It is expected that from next season each team in the Premier League will receive a minimimum of 60 million pounds ($97 million) per season due to the increase in broadcasting rights,” the statement said. “LUFC would also benefit from this if it can achieve promotion to the Premier League.”
No further details were provided by the company, which cited a confidentiality clause. Leeds chairman Ken Bates five days ago said the team was in advanced negotiations about potential investment.
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