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Negotiations break down between Sports Capital and GFH over Leeds United buy-out

Bdaily previously reported that Gulf Finance House was to sell shares to a British consortium, now named as Sports Capital.

However, the possibility of a takeover was put in question when Andrew Flowers of Sports Capital revealed that a revised offer had been rejected by current owners GFH Capital, after a due diligence check prompted the British consortium to change their offer.

Sports Capital is under the current managing director David Haigh and Andrew Flowers, managing director of main sponsors Enterprise Insurance.

Sport Capital has also questioned GFH’s decision to open talks with controversial Italian Massimo Cellino, the owner of Cagliari FC.

According to Sky Sports, Brian McDermott said: “I am desperate to see an end to uncertainty over the ownership situation. It is all about the stability of the club going forward and we need the right people in place at the top. This is probably one of the most difficult spells I’ve had as a manager.”

This was posted in Bdaily's Members' News section by Clare Burnett .