Leeds United, the UK football club has sold a 10% stake to the International Investment Bank of Bahrain. The owner of the FA club is based in Dubai and the sale comes after his acquisition of the team three months ago.
The club plays in the Championship League was bought by GFH Capital of Dubai. Rumors floated that the equity firm was seeking a new owner but was squashed when GFH categorically stated it was looking for fresh investments.
According to Deputy Chief Executive of GFH Capital David Haigh, "The introduction of IIB is in keeping with what have always been GFH Capital's aims for the successful, sustainable and long term ownership of Leeds United FC."
The deal includes the appointment of IIB CEO Aabed Al-Zeera to the board of directors of the football club's holding company, Leeds City Holdings Limited.
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