A Bahrain investment company says it has signed an agreement to oversee the takeover of storied English football club Leeds.

GFH Capital Limited, a 100 percent subsidiary of Gulf Finance House, said on Thursday it had signed an exclusive agreement to ''lead and arrange'' the acquisition of Leeds.

The club has fallen on hard times since almost collapsing in 2001 after overspending to reach the Champions League semifinals. Once a powerhouse in the topflight, the club is 12th in the second-tier League Championship.

GFH did not provide any further details about its plans or identify who is behind the takeover.

Gulf investors have increasingly put their money into European football clubs, with billions of dollars being poured into Manchester City and most recently Paris Saint-Germain.