Leeds chief attacks frivolous Ridsdale regime

LEEDS UNITED chairman John McKenzie has blamed “irresponsibility and indulgent spending” as the reasons behind the Premiership club’s shocking financial state.

Professor of Economics McKenzie has been left stunned by what he has also described as "the frivolous nature of the expenditure" for a cash-strapped club which just seven weeks ago, and upon his appointment as successor to Peter Ridsdale, announced debts of £78.9 million.

McKenzie has sifted through the accounts and found many startling revelations, including: £5.7m in compensation to former bosses David O'Leary and Terry Venables; £600,000 a year on a fleet of over 70 company cars, with £70,000 spent on one vehicle; £70,000 in one year on private jets for directors/senior management; £70,000 recruitment expenses on a senior management figure who left the club less than six months later.