When Terry Venables was appointed as manager, much was expected at Leeds as Venables had previously brought success to Tottenham and Barcelona before taking England to the semi finals of Euro 96. But the looming debt Leeds were now facing meant they couldn't keep star defender Rio Ferdinand, who was sold to Manchester Utd for $30 million. After the season began, striker Robbie Keane was also sold to Tottenham. Despite the rough start, Leeds began well, as back to back wins over Newcastle and Manchester Utd put Leeds top after 6 games. But a 1-4 loss to Arsenal, and later 0-1 to Liverpool, saw Leeds' form begin to drop. Utd were then embarrassingly knocked out the league cup by Sheffield Utd, and despite wins in the UEFA Cup Leeds' spiralling debts meant manager Terry Venables was forced to sell more top players. Lee Bowyer and mid fielder Olivier Dacourt soon left the club, and over time defenders Danny Mills and Jonathan Woodagte, as well as striker Robbie Fowler, were all sold. In the league, Leeds was losing consecutive games to Bolton, Charlton and Fulham. They were now out of the UEFA Cup and were slipping towards the relegation zone. Pressure was mounting on Venables, but was eased at times when Leeds won vital victories, with 16 year old James Milner scoring in consecutive games to secure those victories. Defender Matthew Kilgalion and mid fielder Frazier Richardson were also given debuts, despite reaching the quarter final of the FA cup where Leeds were again knocked out by Sheffield Utd. Venables, frustrated at the continued selling of key players, quit the club, and former Manchester City and Sunderland boss Peter Reid was appointed with 8 games left. With a 2-0 win over Fulham, and then later 3-2 over Arsenal, Mark Viduka in fantastic form saved Leeds from relegation. Utd finished in 15th place. However, only days after the season ended star striker Harry Kewell also left the club. With these accumulated departures, and finances still not under control, the worst was yet to come for Leeds.
Final league table
Kit
remained as Leeds United's kit sponsors, and introduced a new home kit for the season.
First-team squad
Left club during season
Reserve squad
Statistics
Appearances and goals
! colspan=14 style=background:#dcdcdc; text-align:center| Goalkeepers ! colspan=14 style=background:#dcdcdc; text-align:center| Defenders ! colspan=14 style=background:#dcdcdc; text-align:center| Midfielders ! colspan=14 style=background:#dcdcdc; text-align:center| Forwards ! colspan=14 style=background:#dcdcdc; text-align:center| Players transferred out during the season
