Leeds close to takeover

Bahrain-based investment bank GFH Capital are poised to complete their takeover of Leeds, the two parties have said.

GFH Capital have provided Leeds owner Ken Bates with the necessary proof of funds to complete the transaction, which has been in the pipeline since May when talks between the two first began. Speaking on Friday, Bates said: "It's been a long road, but we are in a good place. Both sides have been in talks over the last few days to finalise this deal. We are keeping focused and hope to complete very soon. "The inaccurate reporting of certain journalists who will remain unnamed does not help the situation. "Their articles, based upon a lack of knowledge of the intricacies of the deal and the full facts of the positive intentions of GFH Capital, achieve little and lead only to retractions or public apologies at a later date." GFH Capital announced last month that they had signed an exclusive agreement to lead a takeover of Leeds after they had notified the Bahrain stock exchange.