It’s been more than 6 months since GFH Capital officially took over the Elland Road reigns. In that time, a lot has changed, some of which has been largely successful, while others have been less so.
After a grueling summer, where most Leeds fans were left frustrated at the length of the takeover negotiations, the hand over was complete on the 21st December. The process had already hindered Neil Warnock’s attempt at promotion. Ken Bates was ousted from his roll as chairman (officially on the 30th June) and a new board took shape. from then on, it looked like our new Dubai owners would splash the cash and push us back to the big time.
It now seems that much of what fans expected of GFHC never fully materialised. At the end of the day, who could be worse than Ken Bates? The bar was set high for the new owners, and even though company CEO David Haigh and Salem Patel were quick to say that they weren’t going to be spending “silly” money in January, fans were still left underwhelmed by transfer dealings, none more so than Neil Warnock. A large shortfall in cash left the owners limited to what they could offer the then Manager. Failing to capture Birmingham winger Chris Burke was thought to be because of the cash shortfall.
Then came the confusion surrounding GFHC’s future intentions. At first the parent comapany, GFH, stated that the club was for sale. GFHC then suggested that their philosophy was to create a group of like-minded investors to take the club forward. This strategy was put to practice when they announced a 10% sale of the club to a Bahrain company IIB, their founding member is now on the board at Leeds. Another 3% was sold to now vice-chairman Salah Nooruddin. After a disappointing run of results, Neil Warnock was relieved of his duties, and Brian McDermott took over the reigns a couple of weeks later.
So, have there been many good points about the takeover so far? For a start, prices for season tickets, matchday programmes and other things have decreased substantially, which is a refreshing change from the Bates era. Student prices have been introduced, and the whole system of buying the actual ST has been reworked. Hospitality has also been refreshed. Most of the current ST holder have renewed, and more have since bought them, making the numbers climb above 11,000. Averaging all of the prices in each section of the stadium, sales figures so far will be around the £4.2 million mark. A large chunk of that will be used to pay back a loan on the East Stand development.
Another positive point not noticed by the majority so far this summer, is transfers. Under Bates and Warnock, the club brought in many new faces, most of which were above the age of 30, and most had an air of pit worker rather than brazilian samba dancer. What we have been linked with so far, whether it be free agent or under contract, has been much more exciting. Players like Tommy Rowe, Reece Wabara, Matt Smith (signed), David Wotherspoon and Matt Mills are of a higher class than those signed last season. Fans may moan that £3million signings aren’t being made, or lower league players simply aren’t good enough for us, but we have to remember that GFHC employed Brian McDermott for a reason. Not only is he a good manager, he also has a good eye for players who have the potential to succeed. They are hungry, determined to better themselves. The transfer policy has been changed completely by GFHC and McDermott, and there certainly won’t be any Journeymen singed by McDermott this summer.
The question looming over us however, is the age-old question.Do GFHC have the funds to succeed? This forms part of one of the negative points surrounding GFHC. A lot of fans have been voicing their despair at the apparent lack of funds our owners have. Nobody truly knows the financial situation, except the owners themselves, and Brian McDermott. From rumours gathered so far, a lot of people believe we will only sign free transfers this summer, and we “can’t even afford Tommy Rowe.” The lack of communication between board room and fan base is partly to blame for this. An open board could certainly dampen wild expectations, but it can also make us more realistic to what we can look forward to. The recent story about Barry Fry’s comments regarding an approach for Peterborough captain Tommy Rowe has enraged fans, only because his comments have been taken out of context by the media. Fry said that Leeds would not be able to afford him, in reference to his own valuation of the player. Speaking to Radio Leeds, Fry said he had “no idea” about the financial situation at Elland Road. This should have been the end of it, but unfortunately when something gets out of hand, it snowballs. A statement from the club, or even a quick chat with Brian McDermott would have sufficed. I suspect the next time McDermott is on the radio or on LUTV, he will be quick to tell us all straight about the situation.
We will all have to wait and see about what the summer will bring for out great club, but overall we can be satisfied that the right Man is in the job, Brian McDermott.
Viduka's Quartet 