The David O’Leary and Peter Ridsdale era at Leeds United was one of pure excitement that came crashing down to an emotional and unsustainable halt, as debts of over £80m accumulated.
Leeds and Ridsdale gambled. They went big and spent a fortune at the turn of the century, spending £50m on new players like Rio Ferdinand, Olivier Dacourt and Mark Viduka in the 2000-01 season.
It was a gamble that required Champions League qualification to pay off. But a fourth-placed finish at the end of the 00-01 season, despite reaching the semi-finals that year, meant Leeds failed their objective.
Another £20m was spent on Seth Johnson and Robbie Fowler, but it proved to no avail. Nigel Martyn thinks Leeds overspent on Fowler, who was not the same player he was at Liverpool when joining Leeds.
England midfielder almost joined Leeds for a bargain £5m
Then, there was Kieron Dyer. In the summer of 1999, Dyer completed a £6m move to Newcastle United, and would go on to play 250 times for The Toon. But he would rather have moved to Leeds, instead.
Speaking to Open Goal in 2024, Dyer says West Ham had offered Ipswich £3m, while Leeds and Arsenal bid £5m. He was told he was joining Newcastle but if he had the choice, Dyer would have preferred Leeds.
“If I’d known what I know now and all the managers I’d spoken to, I know Arsenal wanted me as a right-back, Harry Redknapp was playing three at the back [at West Ham],” Dyer remembers, 25 years on.
“Ruud Gullit [at Newcastle] and David O’Leary [at Leeds] saw me as a midfielder. I know Leeds and Arsenal bid £5m. I get pulled in by the manager’s [George Burley] office. ‘We’ve accepted a bid from Newcastle’.
“You don’t get time. This is no disrespect to Newcastle, I had an amazing time there, but if I had thought about it, I would have held tight for Leeds and Arsenal to up bids. Arsenal would’ve been the dream.”
Dyer not the only England midfielder Leeds almost signed
Dyer would go on to endure numerous injury issues after his time at Newcastle, but there is no doubt that at one stage, he was considered one of the brightest talents to have come through in England in years.
If Ridsdale and Leeds had got their way, there would have been more incoming signings. After Fowler, Leeds were close to a £7m deal for Steve McManaman after he fell down the Real Madrid pecking order.
Ultimately, Leeds failed to get Dyer or McManaman and in hindsight, it might have been a good thing they didn’t given Leeds failed to qualify for the Champions League in 2002, and administration began.
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