The man accredited with resurrecting Australian football may well be heading to Elland Road to work his magic on League One’s finest.

Never again?

The story – which came to light yesterday – reveals that Frank Lowy has had his people carry out due diligence work on Leeds United FC with a view to a complete takeover of the club. With a personal fortune estimated to be in the region of six billion dollars he’s most certainly welcome too!

79-year-old Lowy, who made his fortune as co-founder of the Wesfield Group is currently chairman of Football Federation Australia and also influential in the countries bid to host the World Cup. It’s been suggested that his interest in Leeds United may have risen from the history of Australian players that have played for the club and that he may wish to use LUFC as a base to develop the countries players further.

Since Lowy has yet to comment on the claims, you can’t get too carried away, but since serious businessmen generally conduct their affairs behind closed doors, speculation is pretty much all we have to go on. The Australian press are citing a close source and a due-diligence survey conducted on Lowy’s behalf as their proof and I’m tempted to believe them since I suspect either Lowy or Leeds United would have dismissed the speculation otherwise.

As with every billionaire, Lowy does have a few skeletons in his closet, but these shouldn’t deter Leeds United fans too much. The fact of the matter is, that every successful and rich person will face their fair share of court cases and his personal list is nothing compared to Kenneth’s.

Time to cross our fingers (and toes) I guess and hope a deal actually goes through. Clearly, FSF and Ken Bates don’t have the funds to restore the good times at Elland Road and their secretive structure remains a major concern. After so many years of pain, I think we’re more than deserving of a little joy!