When is a takeover update, not a takeover update? I don’t suppose anyone has ever felt the need to draw up a list of criteria for what such a thing should include, but if they did, I’m sure Leeds United’s latest statement would fall some distance short of the mark.

For those that haven’t seen the update already, we’d generally provide a link so you can take a look for yourself, perhaps quoting a small section, but not so much as to make it pointless visiting the original publisher’s page. After all, they’ve taken time to produce original content so deserve the hits themselves and, more importantly, this site would be entirely pointless if it was simply copying the content the others.

Such etiquette is hard to maintain however when the “update” features just two lines of absolute nothingness;

GFH Capital have announced that they are in exclusive negotiations with Leeds United in respect of the proposed acquisition of the Club.

The relevant agreements are being processed by the respective legal teams and information supplied to the Football League as required under their regulations.

That’s literally the entire update. Two lines and 45 words that tell us absolutely nothing we hadn’t heard before. GFH have an exclusivity agreement, it’s all in the hands of the lawyers, the Football League have been informed. The End.

Were Leeds United hoping we wouldn’t notice the absence of new information? That we’d be fooled into thinking we’re now completely informed, run out to buy tickets for the next match and sit quietly while the takeover dragged on for another six months?

Some people have suggested you need to read between the lines for this update to make any sense. I’m not sure what they mean by that exactly, but since there’s only two lines, I’m doubting much could fit between them.

If this update was intended as anything more than a desperate attempt to distract the fans from the failings of the current ownership (and the poor performances said ownership’s aversion to spending has resulted in), the only purpose it serves is to confirm GFH’s exclusivity is still intact despite reports of it’s nearing expiry and that they still, six months on, intend to complete this deal.

Still “imminent” then I guess…

40 Responses

  1. Lost in Kabul

    I refuse to read or listen to anything that comes from KB Media. He has bled our club dry, and now wants us to thank him.

  2. Matthew

    Your article made me chuckle but I don’t actually agree with your main point that there’s nothing new. Stating that documents have been sent to the football league I think is a big step!

    • Matthew

      That’s actually a different Matthew to the one who has commented here for a long time(Me), see the IP address.

      I agree with you TSS :)

      • Matthew

        Actually both of you are imposters, don’t listen to them TSS ….I’m the real matthew around here….. Soz couldn’t resist. Char

  3. snipenose

    i do believe it says they have come to an agreement reading between the lines and that its all been processed.don.t worry you,ll still be able to have plenty of commments on GFH like have they any dosh etc etc etc ,just be nice if for once everything works out.wouldn,t it be great putting sky sports on and headlines coming on that man u (scum)had missed out on another player cos leeds had out bid them,i know its early days but we can all dream,one thing for sure ken wasn,t ever going to get us back where we want to be!!!

  4. bastardo

    I believe they may be squashing the rumors around the interest of other parties. Least we still have a take over on the cards instead of sinking with ken Bates lack of funds (not that there ever were any)

  5. Bluesman

    Well it says a lot really. It says that Leeds are now in the final throws of the takeover and that the interested party are looking for the agreement to be sanctioned by the FA. It always indicates that Bates’s term at LUFC is coming to an end. It also says that they are still being secrative and should be saying a lot more. They are taking the fans fro granted. Will they have the cash to support the club and will they take on loans to fund the rebuilding of the mighty whites? Lets hope so.

  6. Matthew

    All that is important is simply that Bates has to leave, no money is being speant on the playing squad and all the money is being speant elsewhere, he’s borrowing against the clubs future and that simply has to stop.

    We need owners that can take us forward. GFH need to complete this takeover stuff or move aside for someone else with actual money to speand, they’l get their money back from any other new owner anyway.

  7. Lorralorimer

    It is a total joke. As are GFH by the sound of it. The phrase ‘Out of the frying pan, into the fire’ could sum up the situation. There’s never been a more depressing time to be a Leeds fan.

    • Matthew

      What gets me is this whole we’re working hard behind the scenes thing. How long does it take to give Ken Bates the money he wants? The guy wants to sell, give him what he wants so the bearded beep will leave the club far alone.

      It’s ridiculus, if money isn’t an issue why the beep is it taking so long? GFH its time to show your hand and rescue this club, if you cant, let someone else take the reigns.

  8. Lorralorimer

    If GFH have put in £2m already, can anyone tell me what (or who) that money has been spent on?

    • Tyler75

      At a guess and in no particular order:
      – new deals for Ross and Aidy
      – Dioufy, Tonguey and Austin-y
      – A full blood transfusion for Uncle Ken so he can go on tormenting us well into his 90’s
      – Legal bills run up in lost court cases by aforementioned tormentor
      – gold plating for the taps in the bogs of the ‘luxury’ East stand suites
      – a new michelin starred chef for the Bates’ yacht

    • mikelufc

      Naffall to do with the playing staff.

      There is only 1 solution and that is for a total block by the poor blind (stupid) fans who are continuing to fund this farce.
      No money coming in means rapid drastic action from the club and owner, fund it themselves or sell NOW! for what they can get for it.
      The paying fans have brought it on themselves and on the rest of us.
      Thanks fellas! NOT!!!

      • mikelufc

        And now we hear that GFH are indeed taking over but Ken stays as chairman until end of season then he will become president !!!
        Anyone who continues to financially support the club from now on is in my opinion an idiot.

      • Rich

        “Nothing has changed, I will continue as chairman until the end of the
        season when I look forward to handing over to my successor and become
        president and sitting back perhaps, taking a bit more time off and
        enjoying what has been eight years of very hard work.”

        When the takeover took this stupid amount of time I was suspicious something like this was happening again.

      • henrymouni

        I assume President is an honorary title, with no say in the running of the club.

        More an ambassador (oh my God!) for the club.

        Spreading goodwill, and raising our profile in the World at large!!

        Just the man for the job!!!

        I also assume the President cannot write in our program!!!

        Seriously, I hope we have funds TODAY for NW to bring 3 top class loanees, with a view to a permanent deal in January, if the do well.

      • henrymouni

        I know what you are saying Mike but, we have our new owner, with money to invest.

        It makes sense to keep Ken on to the end of the season, so they can learn the ropes.

        The important things is that GFH will own 100% of the club, so Ken’s time is short.

        “GFH Capital are backed by the right resources, including a VERY WEALTHY individual. There have been a lot of rumours and wild statements, but we have had to be measured and considered to ensure we don’t fall into the trap others have done.”

        Lets smoke the peace pipe and get back to supporting the team, for our own good, not Ken’s.

  9. Old Goat

    Whether the FL information is for the Fit & Proper Person(s) clearance or anything else wouldn’t you think they’d have already filed it provisionally months ago.
    Said for ages, this has Duncan Revie Mk II written all over it. Looks to me like they’re scratching for money and will have had to offer attractive terms to get over the line financially. We’ll end up having money siphoned out to pay for this just as surely as we have under Bates.
    Even if the deal goes through, those who think we’re going to overrun the transfer market and go straight up are going to be disappointed.
    Very pessimistic

    • Tyler75

      If they haven’t got the finance now, they are an investment company and there certainly appears to be enough interest around for them to either broker investment deals or sell us on at a profit – which of course unencumbered by the byzantine Bates bureaucracy, would be a much more straightforward process.


    its sad to see the demise of our great club bates said years ago he wanted LEEDS gone and he,s not far off getting his wish get out of our club you parasite. WE ARE LEEDS don.t let this vile man divide us.MOT

  11. Derbyshire White

    Looks like the new team only has the money for one shot at promotion to the gravy train and we’re back in administration if that doesn’t happen next May.

  12. Anthony Dickinson

    Look North reported it as being ratified by the Football League … (hmmm can’t help but like the “rat” in ratified) how long does the Football League take to ratify investment/to deals? I assume that FL ratifing it must still be take over. And to involve the f/l in those 45 lines plays more public because if it’s more spin then FL will get upset with Ken and hit us again.

  13. LSD&2Es

    This does set the clock at 10 days though doesn’t it, as per the FL rules for announcement to take up directorship

  14. mrbigwheels

    Warnock will resign over this… so that will give the entire answer… to the sorry saga.

    • mrbigwheels

      A day later and it seems he has made up his mind unfortunately. He says he knows a little more than us but he will know enough. Mrs W has already moved back to Cornwall, I think that says it for me. We are struggling to understand what is really going on but although we can all ‘keep fighting’ to a certain degree, momentum and motivation keeps slipping away from many of us when one considers what could have been several months ago……….. Thank you Mr Bates, I will take solice and lift my head when you leave for good.

    • mikelufc

      I do hope so but fear vhe is not sufficiently moral.

      He is in it for himself too.

  15. Col

    I’d rather we take our chances on a bunch of dodgy chancers who haven’t got a pot to piss in. If cash is squeezed out of the club then we’re no worse than we are at the moment. Leeds has been damaged massively for the last 10 years or so and it’s going to take an enormous task to rebuild it to its former glory.

  16. Northern Leeds Lad

    Have to admit this sounds positive news, best scrap of anything worthwhile re TOMA for as long as I can remember. The measure of the statement will be the FL will throw this out on its a++e if they are not convinced this is in the best interests of football and Leeds United. My reasoning is we should hear a further update which is more positive and informative by Monday or Tuesday next week, if the FL are satisfied proposed new owners are ‘Fit and Proper’ persons to run a football club in the appropriate way. Bates would not pass this test today IMO !

    LUFC always MOT

  17. Reiver

    We’ve years of misery ahead of us if the GFH take-over goes ahead. They appear not to have two half-pennies to rub together and have had to sell off the family silver to broker this deal. They’re just looking to make a fast buck, as Bates has done, and sell the club on for profit. It may be years yet before we see genuine investment

  18. henrymouni

    The big question is, are they buying the ground and training ground as well?
    I always felt this may have been a big reason for the delay.
    You would hope that the ‘fit & proper’ boys have done a better job than with many other clubs in recent times.
    Won’t be long now!!!!
    Interesting interview with Jason Pearce yesterday.
    He said that NW had lined up other players, including Ward, who was going to come, but the money was suddenly not available for anyone else!
    I think the team would be looking a lot different now with a bit of support at the time.
    Mikail-Smith was another one very close to signing, when the plug was pulled.
    It is a credit to NW that he stayed with us.

    • Lee B

      “…this may have been a big reason for the delay…”

      I have my own theory about this.

      In the beginning (the takeover, not Genesis – although it feels like there’s not a lot of difference between them time-wise) GFH-C were brokering a deal between LUFC and a ‘third party’ (whoever they may be).
      KB didn’t like it and broke off talks. GFH-C then came back and said ‘OK, we’ll do the deal ourselves’. The rest has been documented (albeit mostly in the form of rumours).

      I suspect that GFH-C are now “going it alone”, at least officially, but are unofficially still brokering the deal for the original third party. Once GFH-C have completed the T/O, a new T/O process will begin for the third party to acquire LUFC from GFH-C.
      I think this may be the reason for the long delay. Anything KB says has to be ratified by GFH-C lawyers before being sent to the third party’s lawyers, and any subsequent alterations have to be re-ratified before being returned to KB lawyers and LUFC lawyers (which also, I suspect, are a different bunch).

      If all this is true (I have no idea – just speculating), then there would be 4 groups of lawyers involved in the process, all dealing with the issues sequentially.

      No wonder it’s taking so long (if all true)…

  19. Phil Handley

    Just a thought. With GFH being an investment broker and looking like they don’t have any money themselves, could the be offering touting for inward investment from clients with the promise of an increased return after success. Almost dragons den style

  20. Andrew Grainger

    All this stinks and I don’t trust it any more than Tony Blair with a jar of snake oil and a snake saying hellooooo, I’m your new friend, drink this, It’ll all be ok. This is a joke being worked bt a bastard who hates us and is here to destroy us


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