Is ER Sharia compliant?
Saturday, 20th Oct 2012 16:41

The Middle-East based National journal has questioned whether or not GFH's deal to buy Leeds United will be compatable with Sharia Law.

The National point out that under Sharia Law, the consumption of alcohol, pork products and betting is forbidden.

Obviously it's quite easy to get a pint, a hot dog and have a bet under the concourse on a Matchday. The club also has outlets such as Billy's Bar and the Pavillion as a source of revenue.

Shiek Bilal Khan, a scholar for law-firm Linklaters told the National that GFH must obtain a fatwa to improve the deal and the presence of "non-compliant assets" could complicate the deal.

Harris Irfan, a Sharia adviser of Cordoba Capital told the National that non-Sharia compliant income would have to account for less than 5% of income and this income would also have to periodically be "cleansed" via "zakat" or in other words a donation to charity.

A spokesman from GFH told the National."Scholars have a tolerance level with regards to non-compliant income and as part of our due diligence we were very careful in order to assess the full implications of investing in Leeds United Football Club.

"A plan has already been implemented to ensure the club stays within guidelines going forward."

The article also points out that the Elland Road catering operation was outsourced to a third party back in June, around about the time GFH entered into due diligence with Leeds and the on site betting operation is run by sportingbet not Leeds United directly.

It didn't Howver mention that our wonderful chairman Ken Bates has recentky refrained from using terms such as "Shiekh Rub a Dub" and no longer uses AD after quoting dates in his programme columns, which he started doing about a year ago as he was fed-up with political correctness and pandering to non-Christians.

Yesterday it was reported that GFH had invested around £2m in the club already in return for "mortgage shares" back in June but some rumours trebled that figure to nearer £6m. The reports did seem feasible given that in late May Leeds seemed to be rummaging thorough old-coat pockets and down the back of the sofa for the cash needed for Joel Ward, who completed a move from Portsmouth to Crystal Palace instead.

Not to mention Ross McCormack's new deal, after it was believed Leeds had agreed a fee of £800,000 with Palace when it seemed all hope of keeping him was gone.

So it seems the deal will eventually go thorough and given the mysterious web of ownership and GFH's Islamic dues, maybe it is no surprise that it has taken nearly five months to get this far? however I am hopeful it will conclude by the end of the month.

Whether we will be munching on falafels, sipping mango Lassis and watching fat blokes from the Kop in replica shirts try and win more modest prizes at half-time remains to be seen!

Photo: Action Images

Please report offensive, libellous or inappropriate posts by using the links provided.