Businessman Steve Tappin believes that Leeds United are ripe for Chinese investment and has talked up the potential of the Whites.

Tappin has been working hard on trying to put together a group of Chinese investors to take control of Leeds, the club he supports.
 



As yet, Tappin has not launched a takeover bid for the Whites, but he feels that Leeds must surely be next on the investing block for Chinese billionaires, who have taken control of Aston Villa and Wolverhampton Wanderers recently.

Pointing out that the Chinese love clubs with history, Tappin wrote on Linkedin: "There has been speculation in the media of Chinese interest in both Liverpool and Hull, which makes complete sense given the above.
 


"However, I believe the biggest prize in the English football league for the Chinese has got to be Leeds United", he added.

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Tappin stressed that in 2001, Leeds were sitting in fifth spot in football's rich list, ahead of some of the biggest clubs in the world.

And he feels that when comparing where Leeds are today to where their rivals on the rich list are, it is clear to see the huge potential at Elland Road if the club can be driven forward with the right level of investment.

"By the year 2001, the club was 5th in the Deloitte Football Money League, with revenue ahead of clubs such as Real Madrid, Barcelona, Liverpool and Chelsea", Tappin explained.

"In the past 16 years, a succession of owners has mismanaged and underinvested in the club.

"There are no exact figures on this, but one source put Leeds at the bottom of net investment since 2004/5, with a staggering £97m outflow from the club, although Leeds went into administration so there may be slight "apples and pears" comparisons with other clubs.

"Based on approximate steady state revenue of £30m, Leeds will be worth c.£45-60m (applying a Championship club revenue multiple of 1.5 or up to two times revenue multiple for a Premier League potential).

"Yet again, no net investment from the club during the recent transfer window and the sale of a prize young talent Lewis Cook.

"Further capital to bring in the best would be needed to allow Leeds to go to toe to toe with the likes of Wolves and Aston Villa – in total, potentially, worth up to £100m.

"The potential of this sleeping giant is massive", Tappin insisted.

"To demonstrate this, Leeds’s old rivals, Liverpool, worth less than Leeds in 2001, is according to Forbes now worth $1.56n which is nearly a staggering 20 times the Leeds valuation!"

At present, Leeds are majority owned by Italian businessman Massimo Cellino, while Middle Eastern bank GFH are minority owners.

Cellino has flirted with the idea of selling up, but now appears to be looking at bringing on board investors, with MP&Silva founder Andrea Radrizzani mooted.