Leeds owner sells 10 percent stake to Bahrain bankAP , Associated Press
Mar. 28, 2013 12:02 PM ET
LEEDS, England (AP) — The Bahraini owner of Leeds has sold 10 percent of the English football club to a bank from the Gulf island.
GFH Capital has diluted its stake three months after buying Leeds for $33 million. It did not disclose details on Thursday of the deal with International Investment Bank.
Uncertainty has surrounded GFH Capital's ownership of Leeds since its takeover in December.
Parent company Gulf Finance House said in its recently released 2012 accounts that it "commenced negotiations relating to the sale of its stake" in Leeds, which it described as a "high yielding investment opportunity."
But statements on the Leeds website have stressed that the owners are only searching for other investors as they seek a return to the Premier League.
"We believe that a consortium of like-minded investors provides the best ownership model for a club which belongs among the elite of English football clubs and global sporting brands," GFH Capital deputy CEO David Haigh said.
Leeds is 10th in the League Championship.