BBC SPORT | Football | My Club | Leeds United | Leeds takeover completed
Leeds to stay put
Leeds United will not be forced to sell Elland Road, according to the club's new chairman.
Supporters had feared the stadium was set to be knocked down, with a supermarket built in its place.
But on Monday Gerald Krasner said: "Elland Road will continue to be the home of Leeds United Football Club as long as I am chairman."
On Friday Krasner led a local-based consortium in a £30m takeover of the Premiership club.
He revealed the club had been £100m in debt before Friday's takeover and had been on the verge of selling the ground.
"This club was facing insolvency, this club was facing extinction," said Krasner.
Despite the takeover, Krasner said he expected it to take three to four years to resolve Leeds' financial woes.
"This is not the end of the pain," he said. "We came off life support on Friday and we are now in recuperation."
And he and fellow board member Peter Lorimer apologised to fans for the difficulties faced as a result of the growing debts.
"Their loyalty is amazing," said Lorimer. "And we must also apologise to the shareholders, who will have lost a lot of money. I'm looking forward to trying to build some broken bridges."
The former Leeds player also hit out at the club's mismanagement by former officials at Elland Road.
Lorimer was appointed to the new Leeds board on Friday.
And on Monday he said: "This is a football club which has been guilty of gross mismanagement.
"It's amazing how quickly this team became a laughing stock. They have been in bottom three for most of season and were almost bankrupt."
Leeds' players, who agreed to a wage deferral to help the club's plight, will now receive all back-dated pay.
· Leeds chief executive Trevor Birch is set to leave the club in the wake of Friday's takeover.
Krasner said Birch would only stay at the club for a few months before "pursuing pastures new".
"Trevor had always said he had come in to do a job, which was to save Leeds United Football Club, which he has done," said Krasner.
"I asked him to stay on as a consultant until the end of the season, which he has agreed to do."
Leeds to stay put
Leeds United will not be forced to sell Elland Road, according to the club's new chairman.
Supporters had feared the stadium was set to be knocked down, with a supermarket built in its place.
But on Monday Gerald Krasner said: "Elland Road will continue to be the home of Leeds United Football Club as long as I am chairman."
On Friday Krasner led a local-based consortium in a £30m takeover of the Premiership club.
He revealed the club had been £100m in debt before Friday's takeover and had been on the verge of selling the ground.
"This club was facing insolvency, this club was facing extinction," said Krasner.
Despite the takeover, Krasner said he expected it to take three to four years to resolve Leeds' financial woes.
"This is not the end of the pain," he said. "We came off life support on Friday and we are now in recuperation."
And he and fellow board member Peter Lorimer apologised to fans for the difficulties faced as a result of the growing debts.
"Their loyalty is amazing," said Lorimer. "And we must also apologise to the shareholders, who will have lost a lot of money. I'm looking forward to trying to build some broken bridges."
The former Leeds player also hit out at the club's mismanagement by former officials at Elland Road.
Lorimer was appointed to the new Leeds board on Friday.
And on Monday he said: "This is a football club which has been guilty of gross mismanagement.
"It's amazing how quickly this team became a laughing stock. They have been in bottom three for most of season and were almost bankrupt."
Leeds' players, who agreed to a wage deferral to help the club's plight, will now receive all back-dated pay.
· Leeds chief executive Trevor Birch is set to leave the club in the wake of Friday's takeover.
Krasner said Birch would only stay at the club for a few months before "pursuing pastures new".
"Trevor had always said he had come in to do a job, which was to save Leeds United Football Club, which he has done," said Krasner.
"I asked him to stay on as a consultant until the end of the season, which he has agreed to do."
