A CHINESE consortium of entrepreneurs and a private equity group could be about to launch a bid to buy Leeds United.
The consortium has been assembled by Leeds United fan Steve Tappin, who is the chief executive officer and founder of consultancy firm Xinfu.
Tappin, who is also the presenter of the CEO Guru series on BBC World, has been holding talks in Beijing this week, and has been reported as saying “there is definite interest in buying Leeds.”
The bid for United is likely to include working capital and could involve a payment for the club of more than £100 million.
In an article in Friday’s Chinese newspaper China Daily, Tappin is reported as saying: “I have had a series of meetings with related parties all this week, and there is definite interest in buying Leeds, but I want to ensure it would be with long-term investment, significant working capital and the right governance so it can be a stable platform for sustainable Premier League success.
“Leeds United is a big club with a very strong fan base and huge potential for investors, particularly if it can be returned to the Premiership.”
Whites chairman Massimo Cellino has previously said he will sell the club if receiving the right offer.
Tappin has been approached by the YEP for comment.
Keep checking back for more updates.
Have you downloaded the free YEP app available on Android and iphone?