It’s now believed however that the previous consortium bidding for an outright purchase of Leeds United has been cast aside as Ken Bates tries to maintain a stake in the club.
Yorkshire Evening Post sports editor Phil Hay believes members of the previous consortium – who were fronted by GFH Capital – have teamed up with a new party to offer Ken Bates an alternative proposal. It’s believed the newly formed alliance is of Saudi Arabian origin.
Writing for the Middle Eastern newspaper The National, Duncan Castles claims the new bidders seek to buy half of Ken Bates majority shareholding now, followed by the remaining shares when he chooses to retire.
This newly proposed deal will allow Ken Bates to retain some control of Leeds United Football Club for as long as he likes, while also delivering the investment so desperately needed at the club.