GFH extend Leeds talks

  • Last Updated: November 16 2012, 9:16 GMT

GFH Capital has been granted an extension to the exclusivity period relating to their proposed takeover over npower Championship club Leeds.

Ken Bates: In ongoing talks with GFH Capital

Talks between the Bahrain-based investment bank and United chairman Ken Bates have been ongoing for weeks and the two parties now have additional time to finalise a deal.

David Haigh, deputy chief executive officer at GFH Capital, said in a statement: "The fact that we are in such advanced talks means this extended exclusivity window is merely to ensure we can get past the final post without distraction.

"We have come so far and are looking forward to what we hope will be a positive statement about change in ownership of Leeds United shortly."

In April last year Bates announced he had bought a controlling 72.85 per cent stake of the club's shares from a Geneva-based company, Forward Sports Fund, while the club have made pre-tax profits of more than £10million since the summer of 2007.


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