Over the weekend Ken Bates indulged us with a little more information regarding the takeover for us to mull over.
He claims that he is not to blame whatsoever for the current delay in the deal being completed and that it is in fact GFH Capital’s lawyers that are the cause of the hold up.
This was quickly rebuffed by GFH, who stated that the deal was in a ‘good place’ and that they expected it to be completed.
Bates is playing a strange game with everybody.
He often tells us all how the majority of the stories and rumours surrounding the takeover are well wide of the mark, yet insists on carrying on with his own misleading and somewhat hard to believe comments.
With all of this back and forth tit for tat, you couldn’t really blame the fans for being anything more than a tad confused about where we’re currently at. After all, the majority of us have jobs and families to be seeing to, we don’t all have the time to sit refreshing every website looking for any morsel of information.
Of course, some of us have done the opposite, and have sacrificed many a work hour and earned argument points with the family on a daily basis. With me being one of those poor, addicted souls, I’m now going to attempt a quick breakdown of what has happened over the last few weeks, and try to explain where we’re currently at.
Originally GFH Capital approached Leeds with a takeover bid that had the backing of a middle eastern consortium. Ken Bates didn’t like this, and spoke to the consortium directly.
They then broke off from GFH, who were originally merely brokering the deal, in an attempt to come up with an agreement with Bates.
As it stands that hasn’t happened, and now GFH, who without financial backing are not the big players many expected to takeover at Leeds, are attempting to purchase the club on their own. This should not worry Leeds fans too much, as even if GFH buy the club with the aim of making a profit, they would still have to invest to ensure promotion.
Of course, the consortium could still come up with an alternative deal if they act quickly, though nobody knows how much time they have to play with. Not only that, but GFH could well have lined up some other financial backers, so all is not lost.
So in summary, Leeds are subject of a bid from GFH Capital and they also have interest from the original consortium that were previously backing GFH.
What is important to remember is that the end goal is to see Ken Bates leave Elland Road. The sooner that happens the sooner we can progress. In the meantime, Neil Warnock has been performing magic tricks over the last few weeks, with the team currently sitting just outside the playoffs with the top spot only a few points away.
The team have been playing with a new found spirit lately and long may it continue, as if we can keep in touch with the top teams and reach the January transfer window with some financial backing to ensure we can add to the squad, this season really is there for the taking.
Twitter – @giddy_goose