Leeds United Message Board
I have just read this Reuters report:
and a lot of things don't ring true.
If Bates was convinced that GFH had proof of funds - how was it supplied?
This report looks pretty damning with regard to GFH and it's subsidiaries, and I now begin to wonder if this has been a Master Bates ploy to ease the pressure on himself. Considering the amount of time this takeover has lasted anything is possible, but whichever way you look it does not look good for our future.
More than anything I feel sorry for Colin and the team as this report will certainly put a dampner on things and almost certainly if the takeover doesnt happen Colin will almoest certainly walk as he will have been duped by Bates.
Maybe I am missing something but I don't think so - just Bates playing very stupid again!
- 1 Reply to Alan H
I've noticed that our profile pix have gone missing too; but only on the footie boards. If you visit, say, a Yahoo! news board the pix are shown. It is weird - but so is Yahoo! I guess Easy's pic is shown because he is posting from Germany and not subject to Yahoo! UK cock-ups.
Bryan, there has been something ‘fishy’ in just about every business Ken Bates has been involved in and I can’t see that changing for Leeds United. His takeover, management, administration, purchase, and running of our club have all stunk, so it is no surprise that his dealings to ‘sell’ (or get ‘investment’ in) LUFC also smell of graft.
However, Bates would not deal with a potential ‘buyer/investor’ that did not have money.
A lot has already been said about the current finances of GFH. The Reuters article repeats what we have heard previously. Yet it contains two interesting paragraphs:
“Since current GFH chairman Esam Janahi founded the firm in 1999, it has announced numerous schemes in the Gulf region and elsewhere, but has completed just one major project.
That was Bahrain Financial Harbour, which was sold to Emar Bahrain, an investment vehicle used by Bahraini Prime Minister Khalifa bin Salman Al Khalifa, after it ran out of money in 2010. Bankers with knowledge of the deal said Al Khalifa initially granted the project land for 1 Bahraini dinar ($2.65) for a 50 percent stake in GFH.”
The fact that Khalifa bin Salman Al Khalifa (said to be the wealthiest individual in the Kingdom of Bahrain) owns 50 per cent of GFH is, perhaps, enough for me to believe David Haigh’s claims that the deal will not have funding problems.
As regards your comment about “Bates playing very stupid again”, I won’t argue with you; it is in his nature to hog the limelight at any cost – as long as it is at another’s expense.
- 2 Replies to Andrew
Not quite right Andy.
Read the article again and you will see that Khalifa bin Salman Al Khalifa did not get a 50% stake in GFH, but in BFH (Bahrain Financial Harbour)
That said, however, I don't believe that GFH would be embroiled with Bates unless the were able to prove the funds were available, and that those funds will have come from Khalifa bin Salman Al Khalifa, with whom they must have a serious relationship.
Fingers crossed anyway.