Gulf Finance House (GFH) has agreed to sell a 75 per cent stake in English football club Leeds United (LUFC). The Manama-based investor will retain a 10 per cent stake.

GFH, the parent company of LUFC’s majority shareholder GFH Capital, said it is selling the stake to a consortium of British investors. The consortium is understood to be led by Leeds managing director David Haigh.

The value of the deal, which is subject to approval from the governing body of English football, the English Football Association, was not disclosed.

“GFH expects a positive impact on the financials as a result of the deal,” the firm said in a statement.

The company’s share price rose in the days leading up to the initial announcement on 15 January that it was in talks to sell a partial stake in the club. The Dubai Financial Market-listed firm’s share price went up nearly 20 per cent over the past week, reaching AED0.79 ($0.22) at market opening on 20 January.