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HomeWorldDubai owner of Leeds Utd says mulling more stake sales

Dubai owner of Leeds Utd says mulling more stake sales

The Dubai-based owner of English football club Leeds United said that it is currently evaluating the possibility of selling further stakes in the team, after it offloaded a 10 percent shareholding.

Last week, owner GFH Capital sold the stake in the second tier Championship side to Bahrain’s International Investment Bank (IIB) for an undisclosed amount, having itself only bought the club in December.

In a statement to Dubai Financial Market on Monday, GFH Capital said that it had “received several offers from a number of investors, which are currently being studied and evaluated”.

The statement to the bourse added that the share sale to IIB was part of GFH’s plan “to bring together a consortium of like-minded investors for the successful and sustainable ownership” of the club.

The team are currently placed 11 in the Championship and have spent much of a tumultuous last decade yo yo-ing between divisions as the club struggled with financial difficulties.

In December, Leeds United Football Club posted an operating loss of more than GBP£3m.

The figures showed that turnover was also down 4.9 percent in the year to June 2012.

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