Ridsdale leaves Leeds
Thursday, April 17, 2003
Article summary
Former Leeds United AFC chairman Peter Ridsdale has left the club after resigning as a non-executive director.
Article body
'Business interests'
In a statement to the London Stock Exchange, new chairman Professor John McKenzie said: "Peter has other business interests that he wishes to pursue and we have agreed that it is in the best interests of both parties that he stands down from the board of Leeds United and of the football club."
Decline in fortunes
McKenzie succeeded Ridsdale at the end of last month after an announcement by Leeds of first half pre-tax losses of €25m. Ridsdale had been synonymous with Leeds's decline in fortunes over the past 18 months. From challenging for the Premiership title at the start of 2002, they are now in relegation danger and are on to their third manager in less than a year, Peter Reid having replaced Terry Venables, who in turn had succeeded David O'Leary.
Player sales
With the club €114.5m in debt, a succession of leading players have had to be sold including Rio Ferdinand, Jonathan Woodgate and Robbie Keane. Ridsdale became chairman in 1997 having previously been managing director of a retail chain that sponsored the club. A Leeds fan since childhood, Ridsdale presided over a period that saw Leeds reach the 1999/00 UEFA Champions League semi-finals before falling foul of their mounting debt.
