Friday, 28 September 2012

Are Gulf Finance House Good News For Leeds United?


Leeds fans have reached for the tissues at the prospect of getting rid of Master Bates, and they are certainly not crying tears of affection, but how closely has anybody looked at the new owners? The early rumours suggested Bahrain based oil billionaires, but a simple Google search of GFH shows that they are anything but this.

The company have only existed since 1999 and are an Islamic bank, specialising, in their words, in "unlocking value in some of the world’s most dynamic emerging economies" and using that money "to invest in Islamic financial institutions and infrastructure projects harnessing the enormous potential offered by the region’s dynamic economies".

Interesting. The statement made yesterday did in fact mention Leeds United's heritage but the words "a rich history " were employed. A Freudian slip of the keyboard perhaps. That apart, the statement was all about the money that the merchant bankers (and the rhyming slang is important) aim to make out of the club. The statement read:

“Football teams in England have recently received a significant revenue boost due to the renegotiation of broadcasting rights and it is expected from next season each team in the Premier League will receive a minimum of GBP 60m per season due to the increase in broadcasting right.
LUFC would also benefit from this if it can achieve promotion to the Premier League.”

Now the good news for Leeds fans is that to untap that financial potential, Leeds have to win promotion, but the bad news is that, like Bates, the new owners appear primarily focused on using the club as a cash cow. And where will the money go? Into Islamic projects by the sound of it, some way away from Leeds or even Bradford. Look at their proud portfolio:

"GFH has established some of the region’s leading financial institutions including First Energy Bank, the world’s first Islamic investment bank focused exclusively on the energy sector. Other financial institutions founded by GFH include Khaleeji Commercial Bank in Bahrain, QInvest in Qatar, Arab Finance House in Lebanon, First Leasing Bank in Bahrain and Asia Finance Bank in Malaysia.

Flagship infrastructure projects include GFH’s Financial Harbours in the Kingdom of Bahrain and Tunisia, Energy Cities in Qatar, Libya and India, which are complemented by as well as innovative lifestyle developments such as the Royal Ranches of Marrakech in Morocco. GFH also led the conception and delivery of Jordan’s biggest commercial infrastructure project, the Jordan Gate in Amman."

All a long way from the days of Don Revie, except he also defected to the oil states of course, betraying the whole nation in the process.

This looks like a case of frying pan and fire to me. At West Ham, we know all about merchant bankers - the Icelanders looked like manna from Heaven when they arrived but we soon found out differently.

Portsmouth caught a cold too. Things have not shaken down as people hoped at Liverpool and Villa because the owners want to run the club as a profit centre, not as a hobby or because they love the club. Look at Blackburn last season too. And Leicester's experience shows that even when you throw money at it, results are not guaranteed in the Championship because you can't attract genuine quality, you just end up with former Leeds strikers who looked good in the third tier of English football.

The take over looks good news but it may be too early to be celebrating just yet, especially as the role of Bates in the new regime has not yet been confirmed. The old sod may have the last laugh on Leeds fans yet.

64 comments:

Anonymous said...

We don't care who comes in as long as the Chelsea bxxxxxx goes mot !

Anonymous said...

Thing is, GFH aren't buying the club they are simply intermediaries who are brokering the deal. The people or business buying the club are still incognito.

Anonymous said...

Yesterday it was good now its bad. Amazing what goodle tells you. I can't imagine any investment company in the world still thinks they can make money in football. Sky and BT's new deal does increase the income massively but the wages wipe most of it out. Arsenal posted profits of 36m! Wow! Huge return. My understanding is the bank is fronting the deal on behalf of someone else. By the way, I don't hate ken bates. He saved leeds when others talked about it but couldn't come up with the money. We are stable and profitable now too. Not many clubs can say that.

hammersboring said...

we will see what happens wet spam boy

Anonymous said...

Didn't you get 'Hammered' by Wigan whilst we beat Everton?

Anonymous said...

Best news since i heard your dad had joshed it. Piss off and mind your own damn business,wanker.

Anonymous said...

GFH are the brokers, not the money. Try again.

How did Wet Spam get on against Wigan?

Mwah x

Anonymous said...

Idiot... they are the middle men... cock sucking hammer!

Anonymous said...

For once (ignoring the unnecessary and nefarious dig at Revie) a fair and balanced article, I share your 'concerns' but whatever We Are Leeds & that's better than being a Hammer

Anonymous said...

GFH are not the ones buying the club. They are the organisation that is brokering the deal. This is what we are being led to believe. Obviously if you know something we don't...

Anonymous said...

Your an ar5ehole...

Anonymous said...

Your best artical on us yet,and as a leeds fan for 30 odd years,something about these buyers stinks! They also lost $300 million last year!They just seem into us for the money,im afraid!

Anonymous said...

Show respect and leave don revie out of your ramblings please

Anonymous said...

Mr negative rises again. I read an articlce u wrote stating u were a unbiased pro journo. Do u really still beleive that?!!?!!

Anonymous said...

Dildo

Anonymous said...

YOU WANT A RIGHT GOOD SLAP

Anonymous said...

YOU WANT A RIGHT GOOD SLAP

Hammersfan said...

Brokers or owners, the same applies. The statemnt is all about making money and GFC are an Islamic bank unlocking profit for Islamic purposes - either for themselves or the buyers. Now given Yorkshire CCC would not play a black or Asian player for as long as they could get away with it, this hardly chimes with Yorkshire heritage! Flat capped whippet owners kneeling and praying to Mecca four times a day makes for an amusing image!

I do not mean this in a racist way of course. I have no problem with Islam personally, but I suspect that a sizeable percentage of Leeds "white" fans have had little good to say about Islam until now. Just think guys, if you return to the Prem it will be at the will of Allah!

Anonymous said...

I just hope someone breaks the tosser hf,s fingers,then his neck.

Anonymous said...

Its five times a day u prick .....u no f all dont u . numbskull fcukwit .

Anonymous said...

I usually enjoy reading your little skits, they're quite amusing but please look into the story a little deeper next time, GFH are not buying Leeds United at all, they're merely acting as a BROKER for some other institution FFS, could be worse we could be a potential buy for some ICELANDIC BANK with no cash.

Anonymous said...

Then we got greenwood as an England manager which was an even bigger betrayal.

Anonymous said...

1. They are brokering the deal, so no, your statements do not stand. You made another error and hastily tried to backtrack.
2. You are in no place to make judgements on owners when you have the porn barons in charge and a manager with a questionable link to bung payments.
3. You WERE trying to make out like having a Muslim owner will somehow have a negative impact. This is ridiculous - there is no evidence to suggest this would have any impact whatsoever. Furthermore Leeds have many Muslim supporters if you knew anything about the City or the club you would know this.

Anonymous said...

salam alaikum hf how they going to make money when we have no assets there going to have to speculate to accumulate to get us in prem

Steve said...

Troll. Do you know what a broker is ? Clearly not.
As for ths cricket, another misguided comment, facts probably obtained from a quick google search. Yorkshire CCC proudly boasted thet they picked only Yorkshire born players (upto 1992); it is county cricket FFS. However one exception was an overseas tour in 1962 when the greatest - Sir Garfield sobers - represented the county. These days of course the county includes a good few Yorkshire born players of Asian origin in their ranks, in addition to the overseas players.
Have you ever been to Leeds, its a trully multi cultural city.
Although denying it, your post smacks of racism.

Anonymous said...

You RACIST prick.

Hammersfan said...

0839, I'm sure that is the intention. My point is that this is a money making venture. It could still prove to be good news if you get to the Prem, but the other clubs I quoted, including West Ham, illustrate that take overs are not always what fans expect them to be or hope for. Ask Portsmouth fans!

Anonymous said...

Doh' the bank are working FOR the investors top secure the purchase of the club, not buying it themselves!

Anonymous said...

Ooh aah where's your ma,say ooh aah where's your da?

Anonymous said...

Keep your ignorant views to yourself. Leeds is a very multi cultural city and our fan base reflects that. It is YOU that is alluding to a problem with Islamic investment not the Leeds fans.

Your trolling is sinking to new depths by trying to turn our potential investment in to a race debate.

I think you owe Yorkshire CCC an apology for branding them racist too. You have no idea about the community engagement they have in the BME areas of the County. Perhaps they should report this blog....

Anonymous said...

Just shows the average reading skills of a West Ham fan GFH are not going to be the new owners they just have an agreement to purchase the club for the owner with maybe a few of the directors managing the company for that owner.

Anonymous said...

For one who criticises Leeds fans for their illiteracy you should look at your own grammatical errors especially in the title.
Furthermore you don't appear to know the difference between a broker and a buyer.

Anonymous said...

Apart from being highly offensive to Moslems(particularly the photo insinuating all Moslems ride around on camels) your article rehashes everything that was reported yesterday. With the exception that you've twisted facts round to suit your warped opinion. Personally i think you should be stopped/reported. People have been killed and hurt due to rioting for less than what you have said. You get your little stereotypical dig in about Bradford too. You are low life scum.

Anonymous said...

where do u get your info HF? u kno the same as us at the moment....not a lot.

Anton said...

What you see here is a classic case of... envy and massaging their own ego.

Every response this idiot (male or female) gets (be it good or bad), is just providing them with a little bit of something to lay back and flick their bean over. Sad and amusing.

Anonymous said...

this is very offensive HF.accusing leeds fans of racism?? it was all good fun until now

Anonymous said...

it sounds like u have a problem with islam

Anonymous said...

"i don't mean this in a racist way". You can bet your life when those words are uttered that they infact DO mean this in a racist way. I hope the appropriate people/organisations come after you now. Enough is enough.

Hammersfan said...

How on earth do camels imply all Muslims ride camels. The purchasers are Arabs! And many would see a distinction between Asians and Arabs. Not all Muslims are arabs and not all Arabs are Muslims and not all Arabs ride camels and not all Muslims ride camels either. Why are you getting the hump mate?

Anonymous said...

I've previously found your pathetic articles unworthy of a response, however this particular piece impressed me, actually hovering on the verge of being purposeful. However, I shall proceed on telling you what you already know, as it's obvious your only motive in your writing is a disturbing hatred of Leeds that seems to constantly pester you.
Leeds fans wants bates out; he does not re-invest our profits into the club but instead sells our best assets. With the four or five star players we've lost over the last couple of years, we'd hold a better starting lineup than West Ham currently do. We're a club wasted, and you cannot deny that, regardless of how you see us compare to your Implied almighty southern supremacy.
If a new investor of a championship club wasn't mentioning the potential profits of the premier league, that would be much more suspicious. It's this ambition we have lacked so much lately.
As for your comment about Liverpool, calculate their spendings on Adam, Carroll, downing and Henderson.
Anyway, see you next year.

Anonymous said...

Who gives a shit pal, its time 4 a new era now, all this is just u being jellous of our great club coz u know 4 a fact that Leeds back in the Prem r a by far bigger club than west ham and also I'd say about 90% of other clubs supporters would agree. Almost 10 years out of the top flight its time 4 us 2 get back n shows cnuts like u wot a REAL football fan is. MOT Leeds united pride and soul of YORKSHIRE

Dave M said...

I have just recently finished working for over 3 years in Bahrain and I can tell you that GFH is a financial basket case. Even if they are not the purchasers I can tell you that I would not want GFH anywhere near Leeds and I'm an Arsenal supporter. It will end in tears. You can look up GFH on the Bahrain Bourse.

Anonymous said...

Just four words to say to you

HAMMERS ONE WIGAN FOUR

Anonymous said...

Is that last sentence what passes for humour in your world? Why did you put a photo of camels there in the first place? Clearly the good folk at GFH are not Bedouin yet being the offensive piece of work you are,you insinuate they are. Hope they come after you and close you down. Racist.

Anonymous said...

The irony of a WH supporter questioning the proposed suitability of the potential new LUFC ownership isn't lost on me, nor other Leeds fans. Perhaps we would be better off seeking owners with family reputations steeped in criminal activity or the porn industry. Or perhaps with a record of steering teams to relegation? Yes, that would be much more acceptable....

Anonymous said...

Ha Ha. West Ham Bum Boys 1-4 Wigan. Feeling bitter, Tracey the Upton Park Tranny.

Anonymous said...

some of your posts have gone too far recently HF.One about the BRITISH olympian female boxer was a paticular low. this article here is pure incitement.if west ham and leeds ever do meet again and there is trouble you will shoulder some blame.you need to grow up mate

Old Whijey said...

ref your last comments, how do you know arabs are buying LUFC? no report anywhere has identified the eventual owners; GFH are an investment bank and currently acting as brokers to unknown persons who all invest with them. my guess is the buyer(s) are getting loans from GFH to buy Leeds, thats why they're the ones checking the books etc. both Man. City and Forest are owned by Muslims so where's your issue there? These people are all humans, regardless of race creed or colour, and no-one should try and make comment good or bad based on the racist assumptions you have made. in case you may have forgotten we were the first UK club to have a black player (Albert Johannson) and also one of the first to have Asian players all of whom were subject to racist attacks from other teams fans, especially Chelsea and West Ham. Arsenal and Spurs were the only London teams with decent fans for many years and reading your racially slanted blog that appears still to be the case.

Anonymous said...

You dont mean it in a racist way Hf perhaps in a bigoted way then ?

Anonymous said...

Says the man whose club are owned by bongo mag and porn TV producers - still all wankers together eh!

Anonymous said...

Nice one Islamic institutions eh? Maybe the east end will benefit if thats the case

Anonymous said...

At least The Don was not a thief.
Bobby Moore Bobby Moore
Running from the den
Bobby Moore Bobby Moore
He has sex with men
Queer as they come
Takes it up the bum
Bobby Moore bobby Moore hes know more.....

Thanks for that Millwall

Anonymous said...

Tut Tut Mr Racist.

Anonymous said...

Lol...just about sums it up what most people think mate...cockney twats desperate for hits on his blog...hope he goes the same way if im honest.

Anonymous said...

DADDY DIED OF CANCER....DID YOU CRY BITCH ? I DID WITH LAUGHTER.

Anonymous said...

CUT OUT THE CANCER OF RACISM....

Anonymous said...

im going to hunt you down wet spam boy

Anonymous said...

Turd sniffer

Anonymous said...

Mate.. ITS GFH Capital.... NOT its parent in Bahrain. If you read about GFH capital.. The have people like GE Healtcare and the world bank as investors.... long term sustained investment...

Anton said...

GFH Capital, the Bahrain-based investment company who on Thursday announced they had signed an exclusive agreement to lead a takeover of Leeds, have revealed details of their plans for the npower Championship club.

(GFH Capital's) intentions, if successful in its acquisition, is to move the club back to the Premier League as quickly as possible and help to build a sustainable future for the club, both on and off the field,' they said.
'This is expected to not only benefit the club and the surrounding community, but also the entire city of Leeds.'
Hisham Alrayes, chief executive of GFH, added: 'Like many around the world, people from Bahrain and across the Gulf are passionate about the game of football and notably, English clubs - their successes and hardships are a daily talking point.
'In so many instances this is what bridges the gap between borders and different cultures. We are excited by our intentions for Leeds United and remain fully focused on the specifics of this deal, hoping to conclude a positive outcome as soon as possible.'

Scott Tracey/Tracey ? ... whoever you are... you're just jealous. Simple as. Game over.

Anonymous said...

stop fXXXXXX moaning !

Anonymous said...

One of the first ever black players in the English game played for Leeds...so dont start playing the racist card dickwad x

Anonymous said...

Might whites are on the march

Average Joe said...

Yes I agree there are questions regarding the financing of this deal. Do we have a Middle East Michael Knighton? Not sure that an Islamist Bank is the best for us at Leeds and all this confidentiality does not bode well. Never been a Bates basher (his club, can do what he likes) 'better the devil you know?!)