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Dubai-based GFH Capital decides to sell stake in Leeds
March 21, 2013
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LONDON: The Dubai-based owners of fallen English football giants Leeds United have said they want to sell their stake in the second-tier club just three months after taking over at Elland Road.

GFH Capital completed a lengthy sale purchase when they bought Leeds from former owner Ken Bates, previously best known as Chelsea’s chairman before selling out to Russian billionaire Roman Abramovich, in December.

However, GFH are now intent on selling their stake in LUFC Holdings, Leeds’ parent company, for £7 million ($11 million).

“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 December 31 2012, released in February and published by Britain’s Press Association on Wednesday.

“Subsequent to the year end, (GFH) has commenced negotiations relating to the sale of its stake in LUFC Holdings.”

The news will add to the sense of uncertainty surrounding the Yorkshire side, whose manager, Neil Warnock, indicated on Monday he would leave at the end of the season if the three-time English champions were not promoted to the lucrative Premier League.

Leeds are currently seven points adrift of a play-off place with only eight games of the regular season remaining.

Agence France-Presse

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