The Middle-Eastern investment bank, Gulf Finance House, have confirmed they have signed an exclusive agreement to lead a takeover of Championship side Leeds.

The financial future of the Elland Road club has been up in the air since Leeds, on June 26, revealed they had granted exclusivity to a potential investor. On Saturday, current owner Ken Bates broke his summer-long silence by admitting he was in talks with a group from the Middle East.

On Thursday morning, in a letter released to the Bahrain Stock Exchange, GFH confirmed that one of their subsidiary companies, GFH Capital, were the group operating on behalf of the potential purchasers.

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