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Leeds United clear up ownership issue as Bates takes control

Ken Bates has become the controlling shareholder of Leeds United Football Club although no details of the sellers have been revealed.

The npower Championship side has been under speculation as to whether its ownership complied with Football League and Football Association regulations with the identity of the previous owners unknown.  But chairman Bates has now acquired 72.85% in the club’s holding company Leeds United Football Club Limited.

A statement on the club’s site said:  "LCH has five unconnected shareholders, four of these hold 27.15% collectively with no one of these holding more than 10% of the issued shares.  FSF Limited (a company incorporated in Nevis) holds 102,000,000 or 72.85% of the issued shares.  On the 26th April 2011, FSF Limited was acquired by Outro Limited.

"Outro Limited is wholly owned by Mr K W Bates and is registered in Nevis, West Indies.  On this basis, Mr K W Bates is deemed to be the controlling shareholder of LUFC."

The issue was further complicated when the FA admitted they did not know who actually owned the club, a problem which the Leeds board believe has now been solved.

"This change in ownership structure makes Ken Bates the controlling shareholder of Leeds United and delivers the transparency sought," the statement added.

"The revised details have been submitted to The Football Association, The Football League and the Premier League in accordance with their regulations. Further to the submission of these details both the Football League and the Premier League have confirmed that the new ownership structure satisfies their regulations. The board do not anticipate any issues in securing approval of the Football Association in due course."

 

Scott Hobro

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