Leeds United- Broke Again

GFH INVESTMENT FALLS THROUGH

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The proposed multi-million pound investment from Dubai-based investment firm GFH Capital has fallen through. A joint statement from the parties concerned read:

"The proposed investment in Leeds United ha fallen through. This is due to financial incapacity on GFH Capital's part. The proposed investment would have been a full takeover. However, GFH Capital have had a loan application for the takeover rejected"

LEEDS UNITED RECEIVE WINDING UP ORDER

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Leeds United's loan taken out for the redevelopment of the East stand has multiple overdue payments. The bank have threatened to take legal action against the club if this loan isn't paid off.

This comes as bad news for Leeds United as the club have recently announced they are spending more than they receive and their balance is practically empty.

If they continue to be unable to pay off their debts, the club could be forced to enter administration for the second time since their relegation from the Premier League in 2004.