The past month or so had felt like torture for Ken Bates.
In this test of patience, the 80-year-old Englishman, known for his terrible temper, had to admit defeat to the gentle and graceful Chinese woman. He was ultimately forced to accept what he considered an extremely unreasonable offer.
His original asking price was £25 million, and at worst, he had hoped to sell for £20 million.
You have to understand, many League One clubs now sell for more than £10 million.
When the Swiss Liebherr family bought Southampton, it cost them £14 million—and that was for a League One side.
So, selling Leeds United, a mid-table Championship team, for £20 million wasn't excessive at all.
Not long after their first meeting, Ken Bates asked Cash Harris for updates on Su Qing's position.
The reply was that the Chinese side was holding firm at £15 million.
"Mr. Bates, she's very firm about it," Cash Harris said helplessly.
Ken Bates, a shrewd man, knew it was part of the negotiation strategy, so he didn't panic. He kept waiting.
About two weeks later, Bates contacted Su Qing again through Cash Harris. The response he received was…
"Sorry, Mr. Bates. I've returned to China."
Yes, Su Qing had gone back to complete her resignation procedures.
Even with today's technology enabling remote negotiations, Su Qing remained calm and unhurried, insisting that she was only willing to pay £15 million for Leeds United.
In front of Cash Harris, she even asked him to look for other clubs available at a similar price.
"I hope you understand, Mr. Bates. I'm not obligated to buy Leeds United."
Su Qing's manners were exceptionally refined, but her words left her opponent no room to fight back.
"As you know, I love my fiancé very much. We're getting married this summer. I want to buy a club to better understand his profession, his work, and his philosophy."
"Coincidentally, Leeds United is close to him. That's the club's only real advantage."
"In fact, I've already spoken to Sheffield United. You can check. That shouldn't be hard to verify, since that club is also close to Cheshire, which means I could see my fiancé every day."
"So, I'm only willing to pay this amount for Leeds United."
Su Qing used the most pleasant tone to say the coldest words, rendering all of Bates's plans useless.
But an 80-year-old man wouldn't give in so easily. He still resisted.
Then, in early March, Leeds United's director of football, Gwyn Williams, called to inform him that they had finally recruited a youth training director. The club's board wanted Bates to come to Leeds for a meeting to discuss youth development and planning for the new season.
Gwyn Williams was an old acquaintance from Bates's time at Chelsea. He had coached Chelsea's U18s for nearly 20 years and developed numerous talents. Later, Bates promoted him to the first team to assist Gullit, Vialli, and Ranieri. He was a figure from four managerial eras.
After Mourinho arrived, Williams couldn't stay in the first team and switched to scouting.
When Bates bought Leeds United, he immediately brought in Williams to serve as director of football, a role he still held.
He was also Bates's trusted insider at the club.
As for the youth training director, the situation was quite embarrassing.
After Bates acquired Leeds, he had appointed Welshman Darral Pugh as youth training director. But in October last year, Pugh suddenly resigned to Gwyn Williams, citing three months of unpaid salary.
Since November, the position had remained vacant. Most candidates withdrew after seeing the state of Leeds's academy.
Why?
Because the club didn't even have enough players for the crucial U18 and U23 levels. With delayed wages as well, who would want the job?
This time, Gwyn Williams had to tap into personal connections to find former Chelsea youth player Chris Sulley. But this would be Sulley's first administrative role since retiring in the 1990s.
Still, it was better than nothing.
That's how Gwyn Williams and the board persuaded Bates to return for the meeting.
They called it a discussion, but really, it was about money.
Unpaid wages, next season's transfer budget, and youth development investment—everything needed funding.
How to solve it?
These weren't accidents. This was the same issue every year.
Rich clubs could make bold plans, but poor ones like Bates's Leeds United could only argue over every penny. Bates didn't even dare show his face.
He knew that if he returned to Leeds, he'd be forced to spend money.
Between a rock and a hard place.
In the end, Bates clenched his teeth, stomped his foot, and gave in.
£15 million it was!
…
As a rising star being groomed by the ministry, Su Qing's resignation caught her superiors by surprise. But upon reflection, it wasn't unreasonable. The pressure at the ministry was immense.
Su Qing wasn't just any employee. She was Gao Shen's fiancée, well-known both at home and abroad. If they married, her status would rise even further.
Marrying someone like Gao Shen—why would she need to work in a ministry for experience?
So, her superiors didn't make things difficult. They simply asked her to begin the handover.
After finishing her affairs in China, Su Qing originally planned to go to Shanghai. But then she received a call from Cash Harris—Ken Bates had agreed.
Su Qing canceled her trip and had lawyer Richard Cramer travel from Leeds to London. She flew from China to London and met with Cash Harris and Ken Bates directly.
This time, Ken Bates also brought his lawyer.
Since both parties had agreed on the price, the negotiations went smoothly. But then something unexpected happened.
Su Qing insisted on hiring a law firm to conduct full due diligence on Leeds United. The goal was to verify all liabilities and ensure no hidden debts would surface post-acquisition.
This cost would be covered by Gao Shen.
After completing the audit, the law firm would issue a detailed report. Ken Bates and other shareholders would need to settle all debts and pay all overdue salaries and expenses. Only then could Gao Shen buy Leeds United for £15 million.
Simply put, Gao Shen would pay £15 million, and all debts and unpaid wages would be none of his business.
But Ken Bates had a surprise of his own.
"I've contacted the other shareholders and spoken with the Leeds City Council. They all support the Chinese acquisition of Leeds United. But there's one condition. The deal must include the Thorp Arch training ground, Elland Road Stadium, and the land surrounding it. The land behind the West Stand used to be the first-team training pitch."
"These properties are valued at £20 million in total."
Su Qing's brows furrowed at the news.
All the men present, including the 80-year-old Bates, couldn't help but sigh—this Chinese woman's frown had a beauty that was both unique and captivating.
"I can't give you an answer right now. I need to reassess," Su Qing said, using a delaying tactic.
In fact, according to Gao Shen's plan, the stadium and training base had to be purchased. The price wasn't unreasonable either.
Compared to the £3 million in annual rent, buying them for £20 million made more long-term financial sense. Ownership would allow for renovation and expansion to generate additional income.
But before, Ken Bates hadn't made this a condition.
Now, he claimed it was the request of other shareholders and the city council.
The acquisition of Leeds United would cost £15 million. Now, there was an additional £20 million charge out of nowhere. It felt like a forced upsell.
"Ms. Su, please don't misunderstand," Cash Harris explained. "I can assure you these properties are worth it. The reason we're bundling them in is that they're owned by a private company. Other than renting to Leeds United, they serve no purpose. The £3 million in rent doesn't offset the depreciation and holding costs."
"Fan groups and the city government also prefer that the club owns its own assets. It shows your commitment to managing Leeds United for the long term, doesn't it?"
The deal was already in its final stage. It would be foolish to fall apart now.
"That may be true," Su Qing replied, frowning slightly, "but I still need to reevaluate. After all, this is an extra £20 million we're talking about."
"Alright. I'll talk to the other shareholders and the city government. You take your time. Meanwhile, we can begin the legal due diligence immediately and aim to close the deal as soon as possible. What do you think?" Ken Bates appeared anxious.
Su Qing understood his urgency and nodded. "Alright. But I hope we can sign a non-disclosure agreement. Please do not disclose our identities or any specific details until the deal is complete."
Ken Bates considered Gao Shen's public status and agreed immediately.
The rest was left to the lawyers from both sides to draft the NDA and exclusivity clause.
This also marked the beginning of formal due diligence.
From Ken Bates's attitude, Su Qing could see how desperate he was.
As for the stadium and training facilities, Gao Shen had always wanted them. Now, Su Qing saw a chance to leverage the situation.
Just as Gao Shen had said, people like Bates were cunning and well-connected. Maybe they could extract some benefits or favorable terms from them.
(To be continued.)