The 20-year-old defender has played a huge part in Fleetwood's promotion push this season which unfortunately, saw them finish just five -points off the last automatic promotion spot but comfortably into the play-offs.
So far this season, he has made 40 appearances for The Cod Army and on Monday night helped Fleetwood condemn his hometown club, York City, to defeat in the first round of the League Two play-off semi finals.
In light of such form, the Yorkshire Evening Post has reported Massimo Cellino is ready to offer the youngster a new contract to keep him at the club until 2017. However, with strong competition for places at Elland Road in the full-back positions, we take a look at three questions which may arise in light of this contract signing and what you, the Leeds fans, have been saying on Twitter.
What does this mean for Aidy White and Stephen Warnock?
At the minute, Leeds United have two relatively highly-paid and experienced left-backs on their squad list. Nevertheless, with the new Italian owner exercising harsh budget cuts then it will come as no surprise if either White or Warnock are allowed to leave in the summer.
Therefore, it does make sense for Cellino to tie down Taylor, a relatively inexperienced academy prospect, as that will now allow him to try and move on his high-earning defenders.
Is Charlie Taylor good enough?
The 20-year-old whilst still unproven at Championship level does at least promise a certain pedigree as proven with his England under-19 caps and influence in a top four finishing side, albeit a League Two top four finishing side.
It does remain unlikely the 20-year-old will be thrown in at the deep end and, at least for the first-year, will likely be back-up to either Warnock or White.
Does this signify Leeds' willingness to persevere with young players?
The productivity of the academy was one of Cellino's biggest worries with Leeds United, and he made little secret of it. Within weeks of having his name above the door at Elland Road, he brought in Benito Carbone to help him increase the amount of first-team players the academy produces.
Along with Taylor, the likes of Mowatt, Dawson and Poleon could also benefit from the new regime as it does look increasingly likely Cellino plans on building Leeds around a nucleus of talented young academy players.
Here's what Leeds fans had to say on the contract...
So, on this day of news, I am going to take a positive view, that MC has paid off the mortgage and given Charlie Taylor a new contract #lufc— Ian McMullen (@cadillacjukebox) May 13, 2014
Really pleased that Charlie Taylor is getting a new contract, looks a good player! #lufc— Liam Rotherforth (@Frith83) May 13, 2014