Leeds chairman Professor John McKenzie is resigning in order to put together a rescue package for the debt-ridden Premiership club, according to a newspaper report today. McKenzie's departure from the Leeds boardroom will be made public on Monday, The Sunday Times said.
McKenzie is standing down so as to avoid any allegations of a conflict of interest - he stands to gain personally if a white knight for the troubled club is found as with four million shares he is the largest shareholder at Elland Road.
McKenzie is targeting his Far Eastern contacts to raise the required cash to rescue the club which is £78 million in debt. The club has been given until January 19 by its creditors to find a buyer or major investor.
Bahrain-based Sheikh Abdul Mubarak Al-Khalifa, a long-time Leeds fan from his school days in England, and two Saudi businessmen, are already in talks about a possible takeover.
And former deputy chairman Allan Leighton is also believed to be putting together a consortium and resigned from the board last week to avoid a McKenzie-style conflict of interest.
The 65-year-old McKenzie took over from Peter Ridsdale at the end of March. Leeds, second from bottom, are engaged in a desperate fight to avoid relegation.
Filed by James Boylan
