We’re not as poor as Leeds

Last updated : 05 February 2003 By Martyn Elliott

Shepherd has vowed that we’ll never have to indulge in a major player sell off, as the £30million in transfer fees spent in the past 12 months has been securely financed.

"Anyone trying to compare us with Leeds United and Peter Ridsdale is barking up the wrong tree," he told the Evening Chronicle. "Especially when we have just taken one of their biggest assets in Jonathan Woodgate.

"We do have a securitisation loan, but it is chalk and cheese compared to Leeds.

"They borrowed £60million to buy players, and when they fell into difficulties, they have sold those players at substantial losses. Their investment has already gone.

"We borrowed to rebuild the stadium, not to buy players. Our assets are in bricks and mortar and every time a season ticket holder renews his ticket our debts go down - it's self-financing."

In the past Shepherd has been guilty of bringing disgrace on the club, but whatever you think of him as an individual it is difficult to argue that he isn’t doing a good job for us at the minute.