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January 31, 2003
(Friday)
Ridsdale: We lost
gamble
PETER RIDSDALE
admitted his big-money gamble to turn Leeds into a
European power has flopped.
The Elland Road chairman revealed he must turn his back on the fans'
demands and act in the best interests of the club's shareholders.
Ridsdale said: "We gambled. We thought it was right and had some
great times in Europe - times that, to my dying day, I will remember.
But at the moment we are not repeating it.
"We are not in the UEFA Cup, we are not in the Champions League and
not in the Worthington Cup.
"So I have to cut our cloth to suit our income.
"I know how the fans are feeling - but I'm paid to look after the
shareholders and the financial side of the club, which I am doing to
the best of my ability.
"We lost money because we bought a lot of players but were no longer
in the Champions League and our wage bill was too big for our income.
"We have had 31 full-time professionals on the books for some time
now and they are paid a lot of money.
"If you look at the team, today is the first day in this transfer
window a player that would automatically be in the team has had an
offer we've accepted.
"Lee Bowyer essentially did a Bosman - he informed the board he had
no intention of staying in the summer and we had an opportunity to
get a small amount of money and his legal fees back.
"Olivier Dacourt is on loan to Roma so, until 24 hours ago, we hadn't
sold anybody in this transfer window.
"Yet a year ago I said we had six players too many at the club.
"You can't choose who you get offers for.
"I have to make sure we do not keep losing money."
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