Our present managing director David Haigh is leading the consortium that will buy a majority stake in Leeds United from his own company.

The Yorkshire Evening Post has confirmed that the consortium will acquire a 75 per cent stake in the club, with the remainder of the shares staying in the hands of the present owners, GFH Capital and Bahrain’s International Investment Bank.

It’s a done deal, as the new group of investors have already signed a share acquisition agreement with GFH Capital, and are just waiting for the Football League to ensure they pass the ‘Fit and Proper Persons Test’ and rubber stamp the deal.

There have been doubts for some time as to whether GFH had the resources to take the club forward, but they have been keen to retain at least a minority stake in the club to claim their share of the revenues that would come flooding in if we should get back into the Premier League. And I suppose we shouldn’t begrudge them that after the time and effort they put into ridding us of Ken Bates.

The consortium hope to complete their purchase in time for Brian McDermott to improve the squad when the next transfer window opens in the new year, and I’ve been told that the sums of money that the group have available could completely transform the club. As well as making funds available to the manager they could also redevelop the stadium, though it would cost over £15 million to buy the club back from present owners Teak Commercial Ltd.

So we could be heading into a bright future. Let’s hope it all works out for us this time!

Photo: Action Images

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