Post by Darren on Jan 27, 2005 11:25:05 GMT -5
from the sky sports website
New Leeds United chairman Ken Bates has offered his unequivocal backing to manager Kevin Blackwell, after revealing the club's debts are all-but cleared.
Bates was speaking at a press conference where he was officially unveiled as the new owner of the Championship club.
The former Chelsea supremo is determined to restore The Whites to The Premiership and there have been rumours he will bring in a fresh face at the helm.
But Bates insists he has no plans to replace Blackwell and has praised the work the Leeds boss has done under trying circumstances.
"The speculation about the manager has been totally unfounded, mischievous at best, malicious at worst," said Bates.
"I have never contemplated or discussed Dennis Wise coming to be the manager of Leeds. Bryan Robson was another name that cropped up and I never even considered him.
"I have had an awful lot of applications from out-of-work managers and the ever-present agents.
"I came in here with an open mind as far as Kevin is concerned particularly when I understood the magnificent job he has done here, from a standing start in August.
"The fact he has got 40 points and built a young team, too young to win anything, but gaining experience and potential, means he has done a marvellous job.
"He has my unqualified support and we have agreed to work closely together. At the end of the day, the footballing decisions are his and not mine."
Following his takeover of the fallen Premiership giants, Bates outlined how he had already slashed the club's debt and insisted the situation was not as dire as had been reported.
He added: "Leeds' problems to a great extent were overstated. In effect, they are only £17 million in debt, other than current trading to worry about.
"£4.4 million of that was owed to former directors which was put in by unsecured loans and they have immediately agreed to postpone repayment for four years.
"Two directors had contracts and tore them up on the spot without compensation so £17 million has now come down to £12.5 million.
"You take away the special payment to the Inland Revenue of £3.5 million and that brings it down to £9 million.
"When you look at that there is not a great deal of debt. Leeds haven't got any money but they haven't got any debts.
"If you like, Leeds just about had their heads above water, asking to breathe. Now we are on the surface swimming against the tide.
"The next job is to turn it around so we are swimming with the tide."
New Leeds United chairman Ken Bates has offered his unequivocal backing to manager Kevin Blackwell, after revealing the club's debts are all-but cleared.
Bates was speaking at a press conference where he was officially unveiled as the new owner of the Championship club.
The former Chelsea supremo is determined to restore The Whites to The Premiership and there have been rumours he will bring in a fresh face at the helm.
But Bates insists he has no plans to replace Blackwell and has praised the work the Leeds boss has done under trying circumstances.
"The speculation about the manager has been totally unfounded, mischievous at best, malicious at worst," said Bates.
"I have never contemplated or discussed Dennis Wise coming to be the manager of Leeds. Bryan Robson was another name that cropped up and I never even considered him.
"I have had an awful lot of applications from out-of-work managers and the ever-present agents.
"I came in here with an open mind as far as Kevin is concerned particularly when I understood the magnificent job he has done here, from a standing start in August.
"The fact he has got 40 points and built a young team, too young to win anything, but gaining experience and potential, means he has done a marvellous job.
"He has my unqualified support and we have agreed to work closely together. At the end of the day, the footballing decisions are his and not mine."
Following his takeover of the fallen Premiership giants, Bates outlined how he had already slashed the club's debt and insisted the situation was not as dire as had been reported.
He added: "Leeds' problems to a great extent were overstated. In effect, they are only £17 million in debt, other than current trading to worry about.
"£4.4 million of that was owed to former directors which was put in by unsecured loans and they have immediately agreed to postpone repayment for four years.
"Two directors had contracts and tore them up on the spot without compensation so £17 million has now come down to £12.5 million.
"You take away the special payment to the Inland Revenue of £3.5 million and that brings it down to £9 million.
"When you look at that there is not a great deal of debt. Leeds haven't got any money but they haven't got any debts.
"If you like, Leeds just about had their heads above water, asking to breathe. Now we are on the surface swimming against the tide.
"The next job is to turn it around so we are swimming with the tide."
