Just two and a half months after seizing control of the club, BBC Leeds report that a Yorkshire Consortium will try and buy a controlling stake in the Elland Road club of 51% with a phased full takeover planned.
GFH Capital took over on December 21st last year after a prolonged eight month buy-out saga from existing chairman Ken Bates for a reported £52m, however despite a initial warm reception many fans have cottoned on to fears and media reports that allege GFH do not have the finances to push Leeds back towards the Premiership.
On taking over the club, Director Salem Patel announced the club would not be spending "crazy money" in the transfer market. This morning Mr Patel tweeted an article from the Economist about big spending in the January transfer-window being both difficult and over.
January at Elland Road saw a mixed-bag of fortune, Leeds completed the transfers of Ryan Hall, Michael Tonge on permanent deals and Ross Barklay arrived on loan. However in a dramatic last day Leeds lost Luciano Becchio to Norwich, the departure of our top scorer was slightly compounded by the arrival of Steve Morison in the other direction, veteran defender Stephen Warnock and another striker Habib Habibou on loan.
Cynics argue this is an indicator that little has changed since the days of Bates, Leeds losing their prized assets and picking up cheaper replacements. The future of manager Neil Warnock is another cause for uncertainty, with the 64 year old due to retire in the summer.
The comments of former Leeds Commercial Director, Hull and Derby chairman Adam Pearson midweek caused a bit of a stir when he spoke of his eagerness to return to the game and named Leeds as a club. Pearson presently the Hull RL chairman said "I will definitely get back into football. I would like to go in with a consortium with a club that has huge potential.
"The one that stands out is Leeds."
So far GFH have remained silent at the speculation. Although they have denied during the buy-out process from Bates they were not interested in "flipping" the club eg: making a fast buck, it is understood they hope to bring potential investors on board.
I honestly feel both Patel and his colleague David Haigh,who went to great lengths to tell us about his humble Beeston roots prior to becoming a Tory-supporting, high-flying, Dubai-based lawyer have endured a difficult two-months at the helm and have at times looked like startled rabbits in the headlights as the task of reviving one of Europe's sleeping giants becomes apparent.
There will be those Elland Roadsters who will welcome another takeover bid due to the increased dissatisfaction over GFH's plans. With the ink barely dry on the Bates takeover, surely it would not take another eight-months of pouring over the books?
At the end of the day Messers Patel and Haigh are businessmen over football fans and if a good deal landed on the table for the Islamic investment bank they represent they would surely take it? However it would be interesting to see how Bates would react to the prospect of them making a tidy profit in just a few months?
Maybe the decision to retain his services as Chairmsn will backfire for them?