The Guardian:
Leeds United were plunged back into financial turmoil last night with the new board split, forcing the resignation of their football advisor Geoffrey Richmond, and schemes to raise around £15m in loans secured on Elland Road foundering.
New owners may be waiting in the wings and the chairman Gerald Krasner spent yesterday in talks with potential investors but Richmond's departure suggested a club in chaos.
The former Bradford City chairman had expected to be named as Leeds' chief executive but he has been forced out as much by a power struggle in the recently installed board as by hostility from fans.
From The Sun:
The ex-Bradford chairman, 63, has been working as an unpaid consultant after helping Gerald Krasner’s consortium complete a £30m takeover last month.
But two directors, Simon Morris and Melvyn Levi, were unhappy with his growing influence.
Richmond wanted to succeed Trevor Birch as the club’s chief executive this summer. And he was handling all Leeds’ transfer negotiations and contract talks.
Bradford racked up debts of £36m and were plunged into administration while Richmond was in charge.
Leeds insist Richmond has departed due to "personal and health reasons".