Leeds United Football Club - More Cuts May Be Necessary
Leeds United are still looking to reduce the club's once crippling wage bill despite having managed to slash it by half in less than a year.
The wage bill has over the past two years dropped from £57m to £41m last year and now, after recent departures that have seen Mark Viduka, Dominic Matteo and Alan Smith leave, stands just over £18m.
Danny Mills pending move to Manchester City will still leave that figure above £18m, a figure that is the board's maximum limit and as such more departures from Elland Road are still likely.
The current board are still having to compensate for the mistakes of the past.
"We will have to trim the squad slightly more," confirmed United chairman Gerald Krasner.
"That is largely because we are still having to subsidise the wages of some players we have got rid of. A player may have been on £40,000 a week here but may only receive £20,000 or £25,000 elsewhere, and we have to make up that shortfall on his contract. There were 18 players on more than £1m a year when we first arrived.
"Unfortunately in most cases there is no other way of reducing our wage bill, some supporters do not seem to realise that.
"The simple fact remains that if we do not start to live within our means there will be no future for Leeds United."
Despite the need to reduce the wage bill of the playing staff, the man who dictates where those savings are made is manager Kevin Blackwell.
Events of last week when Michael Duberry's transfer to Wolves was called off by Blackwell, even though a move would have saved the club money, emphasise that.
"We are completely backing Kevin as to how he thinks in terms of our resources. Kevin is our football specialist, he liases with us and we act upon his wishes.
"One thing we have learnt not to do is interfere in the football side of things."
The chairman spent the weekend responding to reporters and reassuring supporters after stories that the club were looking into the possible sale and lease back for Elland Road.
Time and time again, the club have made it clear that whatever avenue the club go down to raise finance, football will be safeguarded at Elland Road.
Said Krasner: "From day one we made it clear that we were looking at two options; remortgage the ground or do a sale and lease back with a minimum 25 year lease and a buy back clause.
"That position has not changed one iota.
"Leeds fans are entitled to be angry if they think we will not be playing football at Elland Road but we have always said that whatever happens, football stays at Elland Road. It is not in the club's interests to accept a shorter lease than 25 years, that is the minimum.
"In the talks we're having there is also a clause to buy back the ground. That's at any point during the lease, not necessarily at the end of it."
Leeds United are still looking to reduce the club's once crippling wage bill despite having managed to slash it by half in less than a year.
The wage bill has over the past two years dropped from £57m to £41m last year and now, after recent departures that have seen Mark Viduka, Dominic Matteo and Alan Smith leave, stands just over £18m.
Danny Mills pending move to Manchester City will still leave that figure above £18m, a figure that is the board's maximum limit and as such more departures from Elland Road are still likely.
The current board are still having to compensate for the mistakes of the past.
"We will have to trim the squad slightly more," confirmed United chairman Gerald Krasner.
"That is largely because we are still having to subsidise the wages of some players we have got rid of. A player may have been on £40,000 a week here but may only receive £20,000 or £25,000 elsewhere, and we have to make up that shortfall on his contract. There were 18 players on more than £1m a year when we first arrived.
"Unfortunately in most cases there is no other way of reducing our wage bill, some supporters do not seem to realise that.
"The simple fact remains that if we do not start to live within our means there will be no future for Leeds United."
Despite the need to reduce the wage bill of the playing staff, the man who dictates where those savings are made is manager Kevin Blackwell.
Events of last week when Michael Duberry's transfer to Wolves was called off by Blackwell, even though a move would have saved the club money, emphasise that.
"We are completely backing Kevin as to how he thinks in terms of our resources. Kevin is our football specialist, he liases with us and we act upon his wishes.
"One thing we have learnt not to do is interfere in the football side of things."
The chairman spent the weekend responding to reporters and reassuring supporters after stories that the club were looking into the possible sale and lease back for Elland Road.
Time and time again, the club have made it clear that whatever avenue the club go down to raise finance, football will be safeguarded at Elland Road.
Said Krasner: "From day one we made it clear that we were looking at two options; remortgage the ground or do a sale and lease back with a minimum 25 year lease and a buy back clause.
"That position has not changed one iota.
"Leeds fans are entitled to be angry if they think we will not be playing football at Elland Road but we have always said that whatever happens, football stays at Elland Road. It is not in the club's interests to accept a shorter lease than 25 years, that is the minimum.
"In the talks we're having there is also a clause to buy back the ground. That's at any point during the lease, not necessarily at the end of it."
