22 Nov 2012

Dubai group buys Leeds United

11:47 am on 22 November 2012

Dubai-based GFH Capital has signed a deal to buy former English football champions Leeds United, the latest foreign group to invest in one of the clubs with hopes of promotion to the lucrative Premier League.

Leeds were one of the top names in English football in the 1970s and won the old first division in 1992 but are now struggling in the second-tier Championship.

Leeds majority shareholder Ken Bates, the former Chelsea owner, will remain as chairman until the end of the season and will then become club president.

Leeds have not won in their last seven league games.