UNDER FIRE McKENZIE STEPPING DOWN - Sporting Life

Sport News and Results from Sporting Life  Professor John McKenzie was described as "damaged goods" following his decision to step down as Leeds plc chairman. McKenzie has confirmed he will not be standing for re-election at next Tuesday's AGM to ensure there is no conflict of interest should he represent potential new investors in negotiations with the club's advisors or creditors regarding a buy-out. McKenzie, who took over the troubled helm following Peter Ridsdale's resignation at the end of the March, is to retain his role as non-executive chairman, although it is understood he will also relinquish that position at a later date. Dr Bill Gerrard, a professor of sport management and finance at Leeds University Business School and an outspoken critic of the United regime in recent months, feels McKenzie's departure comes as "a relief." Although McKenzie, who is Leeds' largest individual shareholder with four million shares, has been able to slash £20m annually off the club's costs, Gerrard believes the 65-year-old still has a lot to answer for. McKenzie came close to quitting following the Harry Kewell transfer fiasco over the summer in which Leeds pocketed just £2.5m from a £5million deal with Liverpool. Kewell's agent, Bernie Mandic, picked up £2million for his part in the move, while the remaining £500,000 was paid into the player's employee benefit trust. Shareholders are also understood to be irate at the fact McKenzie has paid himself £380,000, with more than half that up until September next year, despite the club being around £80million in debt. McKenzie earns a basic salary of £80,000, added to which is a £100,000 wage for his non-executive position, topped off by £200,000 for what is described in the annual report for 2003 as 'a consultancy fee'. "Professor McKenzie would have been absolutely slaughtered at the AGM by the shareholders next week," insisted Gerrard on Sky Sports News. "He is damaged goods. His reputation precedes him and there is a huge amount of hostility regarding his remuneration in the annual accounts. "You have to remember this is a club teetering on the brink of administration and he has been paid up until September 2004. "When that was disclosed I think that was the end of Professor McKenzie as a member of the Leeds United board. "The focus would have been totally on his remuneration, and on the Harry Kewell transfer and the disclosure he only got £2.5million net. "Questions would also have been asked as to why did nothing happen with the creditors from May until November when Trevor Birch (chief executive) came in." There has been speculation regarding McKenzie fronting a Chinese consortium due to his business contacts in the Far East, however, he insists he has yet to take part in any "substantive discussions." Allan Leighton, who resigned as deputy plc chairman 11 days ago, is also understood to be putting together his own consortium, although no statement of intent has so far been issued. Sheikh Abdulrahman bin Mubarak al-Khalifa from Bahrain, backed by two Saudi Arabian businessman, is the only person so far to make his interest known, although there has still not been a firm offer. It remains to be seen whether McKenzie can come up with his own rescue plan, with the clock ticking as Leeds have five weeks to avoid the prospect of administration. McKenzie though appears determined to find someone with the club at heart. He said: "It is essential that we ensure, not only that new funds are available, but also that the club is subsequently only in the hands of owners and managers who care deeply about Leeds United Football Club and who can provide the fans with the success their tremendous loyalty and support so richly deserves. "To generate these funds it will be necessary to bring potential new investors into the club and negotiate on their behalf with the club's advisors and creditors. "To date there have been no substantive discussions with me, but clearly any possible future involvement in negotiations on behalf of potential new investors could cause a conflict of interest if I were to remain chairman of Leeds United plc. "Consequently, I have decided that, in order to support the club and its fans in the best way I can, I shall not seek re-election to the plc board at the annual general meeting on December 23. "Rather, I shall spend time over the next few critical weeks seeking to ensure that the best possible levels of funding and the most appropriate form of ownership is secured to take this great club forward."