Now Leeds United owners deny plans to sell up

THE ownership of Leeds United is again subject to intense speculation after it emerged Gulf Finance House (GFH) have formally announced they have begun negotiations to sell the club for £7million more than they paid.

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A statement issued by GFH Capital said: “Gulf Finance House (GFH), parent company of Leeds United FC owner GFH Capital, published its financial audited report that stated it was looking to sell its stake in the club.

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“To clarify and as previously stated, GFH Capital is looking for investment in part of its share in the club, not its entirety.

“GFH Capital has been transparent since acquiring Leeds United and is continuing to look for strategic investors in part of the club that can invest in Leeds United, alongside GFH Capital, to ensure a long term, sustainable future.”

The statement followed reports that Bahrain-based Gulf Finance House had given formal notice that they had started talks to sell the club, which they only purchased on December 21.

GFH state in their financial accounts for the year to December 31, 2012: “The group has an active plan to sell its stake in LUFC Holdings Limited, and accordingly, the asset and liabilities acquired were classified as held for sale and presented in the consolidated statement of financial position.

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

A consortium involving Yorkshire businessman Steve Parkin - thought to have been at the forefront of a failed bid to purchase a majority stake in United last month -have been linked with a fresh offer.

The ownership speculation threatens to bring 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.

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