Leeds United takeover could cost Chinese group £100m

The consortium of entrepreneurs and a private equity group has been assembled by Harrogate-born 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 £100m.

Whites chairman Massimo Cellino has previously said he will sell the club if he receives the right offer.

In the wake of recent Chinese takeovers of fellow Championship clubs Aston Villa and Wolves, Tappin believes interest is there within the country to purchase the Elland Road outfit.

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.