THERE are those who will snipe and say that Leeds United have been gambling with their future for the three years since they reached the semi- finals of the European Cup, but the £5 million pledged yesterday from casino developers Stanley Leisure has allowed the Yorkshire club to claim that their debt is now reduced to “just over £30m”.

Leeds’s attempts to restore financial stability were boosted as they sold off disused land adjacent to their Elland Road ground. The deal, which will allow Stanley Casinos Limited to build a casino complex with a hotel, restaurant, bars, leisure facilities and designer shops on the newly acquired site, is subject to the reform of the United Kingdom’s gambling laws. Such plans will not have any impact on Elland Road remaining the club’s home, although a sale-and-lease-back arrangement of the ground has not been ruled out.

The board last week agreed such a deal for the club’s Thorp Arch training ground, negotiating a 25-year arrangement that lopped another £4 million off debts that had stood at more than £100 million under the chairmanship of Peter Ridsdale and John McKenzie.

“This deal is yet another significant stepping stone towards reducing the club’s debts,” a club statement said. “We have now received £5 million from Stanley Leisure, which means we have managed to reduce Leeds United’s debt burden from £103 million the day the current board took over, to just over £30 million — a figure that continues to fall almost by the week.

“Stanley Leisure would bring a high-quality operation to the site, providing a major boost to the Elland Road area, while also bringing investment and job creation. Elland Road was selected as a prime site as it continues to attract one of the largest crowds in the Championship to every match. The strength of the Leeds United brand had a contributing factor to securing the deal.”

Although the funds are unlikely to filter through to Kevin Blackwell for teambuilding, the Leeds manager did yesterday make an increased offer of £600,000 to Preston North End for David Healy, the Northern Ireland forward. Preston declined but Leeds’s ability to make such a bid suggests increased confidence in their finances.

Michael Duberry, the defender reportedly paid more than £20,000 a week, has recently been loaned out to Stoke City, completing the exodus of high-earners that saw Paul Robinson join Tottenham Hotspur for £2.5 million, James Milner sign for Newcastle United for £4 million, Mark Viduka leave for Middlesbrough for £4.5 million and Alan Smith go to Manchester United for £7 m illion.