Last Updated: Wed, 21 Nov 2012 17:14
Leeds fans have expressed their disappointment that Ken Bates will be staying on as president following the completion of the takeover.
Bates, 80, announced that GFH Capital will complete a 100 per cent takeover of the club on December 21 and that he will remain as chairman during a transitional period until the end of the season.
GFH Capital deputy chief executive David Haigh, a lifelong Leeds fan, will take a place on the board at Elland Road immediately with three more of the Middle East consortium's representatives to join him before Christmas. A new club chairman will be appointed by the new owners at the end of the season when Bates will become club president.
GFH Capital, who first entered into talks with Leeds in May, have already transferred money into the club and will be making further funds available to manager Neil Warnock, who will have the new owners' full support.
"We're very pleased the deal has finally been done and that six agonisingly-long months for Leeds United supporters can be put to an end," Leeds United Supporters' Trust chairman Gary Cooper told Press Association Sport. "GFH Capital have spoken a wonderful game and made some very ambitious statements with regards to what they want to do with the club and we're looking forward to seeing them put their plans into action.
"But there is one 'but'. Why the continued involvement with Ken Bates? We're not questioning the transitional period at all, that makes absolute sense."
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