Tuesday, 16 October 2012

Insight: Leeds United suitor looks to have little financial muscle | Reuters

Having seen an Abu Dhabi billionaire's money help Manchester City become English soccer champions last year, Leeds United supporters dared to dream of something similar at Elland Road, the ground the club was forced to sell to stay afloat.

But the Dubai-based investment firm negotiating to take over Leeds, one of English soccer's most famous clubs, appears to have little financial fire power to complete the deal, accounts of its Bahrain parent firm Gulf Finance House show.

The Bahrain company, meanwhile, has previously taken big fees from projects that rarely see completion, according to an internal document from 2010 reviewed by Reuters and verified by four former insiders.

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