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One of China's wealthiest businessmen was linked with a takeover bid for English Premiership strugglers Leeds United.

Xu Ming, president of the Shide Group, a chemical consortium which also manufactures home appliances in China, was the latest name to emerge in Leeds circles as the club looks for a new owner to help clear a 78-million-pound (US$136 million) debt.

Xu, who is said to have assets in excess of 200 million pounds (US$350 million), is also the chairman of Chinese Division A Dalian Shide, the club which sold Sun Jihai to Premiership rivals Manchester City last year.

He has reportedly been interested in forging a partnership with a European club for some time.

On Monday, Professor John McKenzie said he would step down as Leeds United chairman at next week's annual general meeting.

According to Leeds chief executive Trevor Birch, McKenzie made that move because his business interests in the Far East meant there was a possibility he could be looking to put together a consortium of his own.

McKenzie has decided to step down to ensure there will be no conflict of interest should he represent new investors in negotiations with the club's advisers or creditors during the next few weeks.

Last week Bahrain-based Sheikh Abdul Mubarak Al-Khalifa, a long-time Leeds fan from his school days in England, and two Saudi businessmen were reported to be bidding to takeover the club.

Sheikh Al-Khalifa's offer was reported to include 17 million pounds (US$30 million) for shares and other millions to settle the two major creditors.

McKenzie has put a 60 million pound (US$105 million) price tag on the club.

Xu has, since the beginning of this year, repeatedly expressed interest in buying teams in South Korea, Australia, Italy and the United States, the Chinese press reported.

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