Leeds United Owners Aim To Raise Club To EPL Without Dropping Major Cash
Dubai-based GFH Capital said it would not spend "crazy money" to restore Leeds United to the Premier League after completing a takeover reportedly worth £52M ($83.6M), according to Keith Weir of REUTERS. GFH has bought the club from majority shareholder and former Chelsea Owner Ken Bates, who "will remain club chairman until the end of the season." GFH exec Salem Patel said, "We're not going to be spending crazy money like some football club owners have. What we want to do is to make the investment sustainable and make the club successful" (REUTERS, 12/21).