Thursday, March 21, 2013
Leeds United owners looking to sell club for a profit - just three months after purchase
The Bahrain-based group completed a protracted sale from former Leeds owner Ken Bates in late December for a "bargain" price, but are now in negotiations to sell their stake in LUFC Holdings, the club's parent company, for £7 million more than they paid.
"The group has an active plan to sell its stake in LUFC Holdings," Gulf Finance House said in their financial statements for the year ending Dec 31 2012, released in February. "Subsequent to the year end, [GFH] has commenced negotiations relating to the sale of its stake in LUFC Holdings."
The news brings more instability to the club, whose play-off hopes are hanging by a thread, sitting seven points adrift with eight games to play while manager Neil Warnock has indicated he will leave in the summer if the club are not promoted.
"The group has an active plan to sell its stake in LUFC Holdings," Gulf Finance House said in their financial statements for the year ending Dec 31 2012, released in February. "Subsequent to the year end, [GFH] has commenced negotiations relating to the sale of its stake in LUFC Holdings."
The news brings more instability to the club, whose play-off hopes are hanging by a thread, sitting seven points adrift with eight games to play while manager Neil Warnock has indicated he will leave in the summer if the club are not promoted.
