Robbie Keane, Gary Kelly, Michael Duberry and Oliver Dacourt are all poised
to leave, according to Bose's sources.
`Before the Ferdinand deal, the Leeds board had decided that they needed to
raise £15 million. The sales could now bring in œ40 million, however only £5-
10 million will go to Venables for the two or three players he wants,' reports
Bose.
`Leeds's debts are mostly due to the œ60 million, 25-year loan note they
secured through sale of future gate receipts to fund a new stadium. Capital
and interest payments cost the club œ4 million a year. The remaining £17
million accrued through David O'Leary's player purchases.
In the early years of O'Leary's regime, Leeds bought players through a
financing scheme pioneered by Ray Ranson, the former Manchester City
player, when he worked for the late Matthew Harding's Benfeld Greig
insurance firm.
This sale-and-leaseback arrangement is similar to a mortgage. The club
transfer the right to use a player to Barclays, in return for a cash payment, and
then lease him back for a quarterly fee. When the player is sold, the club pay
off the lease and keep the profit. Barclays protect themselves against the club
defaulting by taking out insurance.
Leeds have never disclosed who the players are but Telegraph Sport has
learnt that they are Michael Bridges, Duberry and Dacourt.'