Leeds takeover moves closer

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Ken Bates' seven-year spell as the owner of Leeds would appear to be coming to an end after the investment bank, Gulf Finance House, confirmed it had signed an "exclusive agreement" to lead a purchase of the Championship club.

The Bahrain-based company confirmed in a letter to the country's stock exchange on Thursday morning that GFH Capital, one of their subsidiaries, was to "lead and arrange" the purchase of Leeds City Holdings, who own the football club, although there was no mention of who they were acting for.

Their acknowledgement confirms a growing train of thought that they were the brokers Bates has been dealing with all summer. Leeds announced on June 26 they had entered an exclusivity agreement with unnamed investors, but details have been hard to come by since.

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