Bates, 80, announced yesterday that GFH Capital will complete a 100 per cent takeover of the club on December 21 and that he will remain as chairman during a transitional period until the end of the season.

GFH deputy chief executive David Haigh, a lifelong Leeds fan, will take a place on the board immediately, with three more of the Middle East consortium’s representatives to join him before Christmas.

A new club chairman will be appointed by the new owners at the end of the season when Bates will become club president.

GFH have already transferred money into the club and will be making further funds available to manager Neil Warnock.

“We’re very pleased the deal has finally been done and that six agonisinglylong months for supporters can be put to an end,” said Leeds United Supporters’ Trust chairman Gary Cooper.

Ken Bates

“GFH Capital have spoken a wonderful game and made some very ambitious statements with regards to what they want to do with the club and we’re looking forward to seeing them put their plans into action.

“But there is one ‘but’. Why the continued involvement with Ken Bates? We’re not questioning the transitional period at all, that makes absolute sense. But my members are already asking me, going forward, why does the club need or want Ken Bates as president? His tenure at the club has not been one of success.

“He’s like Marmite, you either love him or loathe him and he has proved very divisive at this club.

“He has done his best to discredit supporters’ groups, he has called fans morons and dissidents and he has sold all our best players. He’s a hell of a character, but he has done nothing to endear himself to the supporters.”