UNITED SAVE 1.75m

Last updated : 29 January 2004 By Editor
Leeds have accepted a final payment of £1.5m to conclude the
Rio Ferdinand deal. This upfront payment saves United £1.75m
on the amount outstanding, and also helps Leeds as they
scramble to find that £5m needed by Friday to avoid
administration. The figure saved should just about cover the
wages we’re paying him during his suspension.

In a statement to the Stock Exchange, Manchester United
announced: 'Manchester United has agreed to pay to Leeds
United FC, via the FAPL (Premier League), tomorrow
£1.5million in full and final settlement of the deferred
conditional sums due on the Rio Ferdinand transfer totalling
£3.25 million. A levy of £75,000 is also payable to the FA
Premier League.'