Former Leeds United chairman Gerald Krasner speaks to ITV ahead of crunch Premier League weekend

Former Leeds United chairman Gerald Krasner led a consortium at the club in 2004. Credit: PA

A former Leeds United chairman says the club are in a better position than they were under his stewardship should they get relegated this weekend.

Ex-Whites chairman and administrator Gerald Krasner led a consortium at Elland Road in 2004 in a reign that saw the club relegated from the Premier League.

This weekend Leeds face the same fate unless they can leapfrog both Leicester City and Everton to climb out of the relegation zone on the final day of the season.

Speaking to ITV News, Krasner said: "Leeds United are in a better financial position today than 20 years ago.

"Although there will be a financial effect it may not be anywhere near as bad as it was then.

"Financially, parachute payments today are different class to what they were 20 years ago."

Gerald Krasner on the day he sold Leeds United to Ken Bates in a £10m takeover in January 2005. Credit: PA

Childhood Leeds fan Krasner was present for one of the darkest periods in the club's history. He then sold the club to Ken Bates.

"We came into Leeds in January at the bottom of the table and the first match was Manchester City. We beat them 1-0.

"It was a very sad time but it had been coming long before I got involved. My job was more to save it from getting worse."

A fan from 13-years-old, Krasner said: "I remember the Revie days. I was a product of growing up then. Relegation wasn't a word that ever got mentioned so it was a shock.

"Things had to be done very quickly to save the club plunging even further."

On Leeds' prospects this weekend and beyond, he said: "We need a long-term manager. The fan base they've got, they'll come back optimistic next season whatever happens on Sunday."

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