Leeds United Takeover: Chinese Consortium Eyes Purchase of English Soccer Club for $132M
Charissa Echavez | | Aug 01, 2016 10:10 AM EDT |
(Photo : Getty Images) Leeds United could be the latest Western club to come under Chinese ownership.
A Chinese consortium could take over English Championship soccer club Leeds United in a deal worth around $132 million, according to reports.
A Chinese consortium led by Harrogate-born Leeds United fan Steve Tappin, who is the founder and CEO of consultancy firm Xinfu, is behind the plan to acquire the Elland Road club.
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Leeds United, which is currently owned by Italian businessman Massimo Cellino whose family's trust owns 81.58 percent of the team, said he is willing to sell the club after experiencing a difficult period in charge.
Tappin, who is also the presenter of the CEO Guru series on BBC World, is more than excited to go into business but declined to divulge details of the potential offer, he told China Daily.
"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," Tappin said. "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."
The club, which finished 13th in the Championship last season, was bought by Cellino in April 2014. Leeds United is currently preparing for the upcoming season and has signed up a new manager Garry Monk and a host of new faces. The team will begin their Championship campaign with a trip to QPR next Sunday, according to Express.Co.
TagsSteve Tappin, Leeds United, Soccer, Massimo Cellino, Championships
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