Ming dynasty could save debt-ridden Leeds

A CHINESE tycoon has emerged as a prospective buyer to help save debt-ridden Leeds from falling into the hands of the administrators.

Leeds are currently up for sale to the highest bidder, and chief executive Trevor Birch now has exactly five weeks to find a white knight to ride to the club's rescue.

With Leeds £78m in debt, Birch has been given a deadline of January 19 set by the club's creditors to resolve the current crisis.

Deputy plc chairman Allan Leighton has already resigned from his post in the belief he is forming a consortium, while chairman John McKenzie confirmed on Monday he is not standing for re-election at next Tuesday's AGM.

The 65-year-old professor has stated this is due to the fact he may now bring potential new investors into Leeds and negotiate on their behalf with the club's advisors and creditors.

Birch revealed on Sunday that due to McKenzie's business interests in the Far East, there is a possibility he could be looking to put together a consortium of his own.

That may well be led by Xu Ming, president of the Shide Group, which is primarily involved in chemical building materials, petrochemicals and home appliances in China.

Ming is also chairman of Chinese Division A side Dalian Shide, with the club seven-times national champions in the 10-year history of the league competition, and who sold Sun Jihai to Manchester City for £2m in February last year.

In April 2001, Ming and a delegation from his club, visited Newcastle United, handing Craig Bellamy the PFA Young Player of the Year award for that season ahead of a 3-0 Premiership victory over Charlton at St James' Park.

It is understood Ming, who is this year rated as the 11th richest man in China with assets of more than £200m, would like to form a partnership with a top European club, and it would appear Leeds affords him the perfect opportunity to do so.

Given such wealth, any bid from Ming would surely outweigh that of Leighton and Sheikh Abdulrahman bin Mubarrak al-Khalifa of Bahrain, who is understood to have the support of two Saudi Arabian businessmen.

Leeds, meanwhile, have agreed another loan extension with Arsenal for winger Jermaine Pennant, who will now remain with the Whites for a fifth month. Although Pennant played for Leeds against the Gunners in the 4-1 Premiership defeat on November 1, he will not be allowed to face his employers in the FA Cup third-round tie at Elland Road on January 4.

Midfielder Eirik Bakke is edging closer to a return following an agonising season on the sidelines.

Bakke has been out since operated on by renowned American knee surgeon Richard Steadman in the summer, with the Norwegian suffering from patella tendinitis.

The 26-year-old returned to light training last week and yesterday played in a friendly with Chesterfield.