LeedsÂ’ plight is a warning to the Premiership trio
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THE Champions League semi-finals are a place for biggest names in Europe. Manchester United, Chelsea, Liverpool and AC Milan – four top-notch sides in this year’s latter stages. But six years ago Leeds broke that mould by reaching the last four, making them the talk of Europe. A breathtaking run of results – including wins over Milan, Lazio and, in the quarter-finals, Deportivo La Coruna – took them within a whisker of the 2001 final. Leeds eventually lost to Valencia – and that marked the start of their sharp decline. Three years later they were relegated from the Premiership and they are currently fighting to avoid the drop into League One.
If they’re not careful, memories of the San Siro and Bernabeu will soon be replaced by the nightmare of trips to Port Vale and Bournemouth. More importantly, Leeds’ plight is a warning to the Premiership trio left in this year’s competition – all of whom have endured unsettling takeovers in the past few years. It would be wrong to suggest United, Chelsea or Liverpool are in danger of combusting. But Leeds’ financial woes demonstrates how quickly the good times can evaporate - and quick. A look at the Yorkshire side’s squad for their semi-final first leg against Valencia at Elland Road – which they drew 0-0 before succumbing in Spain – speaks volumes.
It included current England internationals Paul Robinson, Jonathon Woodgate, Rio Ferdinand and Alan Smith – the latter two will turn out for United against Milan tomorrow. Leeds were also able to call upon the likes of Mark Viduka, Harry Kewell, Lee Bowyer, Olivier Dacourt, Nigel Martyn and Ian Harte – all of them in the prime of their careers.
But the star-packed squad was dismantled almost as quickly as it was put together as the club began its slide towards financial oblivion. Chairman Peter Ridsdale borrowed £60million in the assumption Leeds possessed the quality to qualify for the money pit of the Champions League year after year. But when that plan failed – Leeds never featured in the competition after losing the second leg in Valencia 3-0 – and the club sunk like a stone.
Burdened Ridsdale’s great expectations, they plummeted into the Championship with debts of over £100million. Defeat for 10-man Leeds at Southampton on Saturday edged them ever closer to English football's third tier - something that would have been unthinkable in the heady days of Ridsdale's big spending. And that thought will be even harder to stomach when they tune into this week's semi-finals. Europe's biggest stage is a million miles away right now.
Leeds glory men
Here is the Leeds' side that faced Valencia in the Champions League semi-final first leg at Elland Road - but where are they now?
Nigel Martyn: Retired after stint with Everton
Danny Mills: Outcast at Manchester City
Ian Harte: In his third season with Spanish side Levante
Rio Ferdinand: Joined Man United for British record £30m
Dominic Matteo: Playing with Stoke in the Championship
Lee Bowyer: Braced for a second relegation with West Ham
Olivier Dacourt: Serie A title winner with Inter Milan
David Batty: Retired in 2004 after series of injuries
Harry Kewell: Struggling with injuries at Liverpool
Mark Viduka: Set to leave Middlesbrough this summer
Alan Smith: Back to his best at Manchester United
Subs: Paul Robinson (now at Tottenham), Gary Kelly (Leeds), Jonathan Woodgate (Middlesbrough), Stephen McPhail (Cardiff), Jason Wilcox (retired), Eirik Bakke (SK Brann), Jacob Burns (Wisla Krakow). -
i presume this warning is served only to chelsea.
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dun so bad la.. but chelsea at this point if become like leeds will be very jia lat..one way is when Roman is bored then he leaves chelsea
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chelsea are the only team facing that possibility.Originally posted by lolxzxz:dun so bad la.. but chelsea at this point if become like leeds will be very jia lat..one way is when Roman is bored then he leaves chelsea -
I don't think Peter Kenyon will allow that to happen... He is a more able man than the old Leeds Chairman Peter Ridsdale in managing...
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Aaron Lennon too...
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anyone remember how much they paid for seth johnson?
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I seem to remember ONLY Liverpool & ManUtd are in debts by hundreds of millions
United esp, 600million becum 650mil so fast. Buy refs is it?
If not careful, gonna be 700mil. 
Wonder who's gonna be like Leeds now!
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£7 million in 2001. Made around 50 appearances in four years at Leeds. Made a solitary appearance for England, against Italy in November 2000...Originally posted by monoslayer:anyone remember how much they paid for seth johnson?
Released by Leeds in August 2005. It is believed they did this due to clauses in the deal signing him stating that they must pay a further fee to Derby after starting 50 league appearances and due to his large (then) £38,000 a week wages which Leeds couldn't afford after their financial crisis.
You will be able to see him again if Derby County comes up to the EPL next season... -
Its a different case... To begin with, they are both not artificial sustain with owner's money... And unlike Chelsea who are losing yearly, they are actually generating profits yearly. They have long term sponsorship deals with major companies. Huge support not just at home but across the world too making the marketing of their products much easier too. They also have huge followers to their weekly matches therefore generating extra and stable revenue for the club.Originally posted by innosaint:I seem to remember ONLY Liverpool & ManUtd are in debts by hundreds of millions
United esp, 600million becum 650mil so fast. Buy refs is it?
If not careful, gonna be 700mil.
Wonder who's gonna be like Leeds now!
Chelsea on the other hand... Depend on hand-outs from Roman... Have huge salaries to upkeep (Not just the players which was in Leeds case) but also their backroom staff, highest paid manager moanrinho and also their highest paid CEO Kenyon... To top that all up, they can't even fill their 42,000 stadium weekly where Pool is already building a 60,000 one cos they have fans ready to subscribe to their season tickets...
So, the debts of Arsenal, Man u and Pool isn't that serious otherwise we won't see people rushing to buy them...
In chelsea's case, If Roman don't want chelsea, i don't know who would want to take over if they have to be responsible for all those long term liabilities as well... -
one of the most notable flops i can remember.Originally posted by zocoss:£7 million in 2001. Made around 50 appearances in four years at Leeds. Made a solitary appearance for England, against Italy in November 2000...
Released by Leeds in August 2005. It is believed they did this due to clauses in the deal signing him stating that they must pay a further fee to Derby after starting 50 league appearances and due to his large (then) £38,000 a week wages which Leeds couldn't afford after their financial crisis.
You will be able to see him again if Derby County comes up to the EPL next season... -
this will never happen cos now teams get the money first before spending unlike leeds who spend money first and hoping to get returns by qualifying for ucl. furthermore, they now have investors who ar brilliant at making money.
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i dont think Chelsea will have any financial problems unless Roman leaves Chelsea and in comes a new Chairman who does not have enough to spare for transfer fees
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you have no ideaOriginally posted by glacer:i dont think Chelsea will have any financial problems unless Roman leaves Chelsea and in comes a new Chairman who does not have enough to spare for transfer fees