The owner of Leeds United FC has been eager to sell off the club since acquiring it in 2014. (Photo : Getty Images)
A Chinese consortium is planning to bid for English Championship soccer club Leeds United FC with an offer estimated to be worth more than 100 million pounds ($131 million)
The consortium, which is believed to consist of several unnamed Chinese entrepreneurs and a private equity group, has been put together by Steve Tappin, CEO and founder of consultancy Xinfu, and has been holding talks in Beijing this week, according to a report from China Daily on Friday.
Tappin, who also hosts the BBC World TV series "CEO Guru", declined to comment on the details of the potential offer.
"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 told China Daily.
"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," he added.
The club, which ranked 13th place in the Championship last season, is owned by Italian entrepreneur Massimo Cellino, whose family trust controls 81.58 percent.
Cellino acquired Leeds United in April 2014 but has had a turbulent period at the helm, even agreeing to sell the club to its fans last year before calling off the deal.
He told the Times in May he would sell the club if he got the right offer.
"If somebody doesn't come in then I have no choice but to run it. A lot of people have called me, but they are just fishing. I don't see the money," he said.
The consortium is expected to make its move before the transfer window closes at the end of August.
The club is likely to have a value of between 50 million pounds and 60 million pounds, and is likely to need an injection of working capital of a similar amount from its new owners.
Chinese investors have been on a shopping spree for professional soccer teams in recent months. Last week, Chinese conglomerate Fosun acquired Wolverhampton Wanderers while Aston Villa was purchased by Tony Xia's Recon Group for £76 million in June.
