The move comes after FD Stephen Harrison quit the struggling football club, six weeks after it’s interim results revealed debts of nearly £80m.
E&Y has also been appointed to advise Leeds United on alternatives for ‘restructuring and refinancing’.
The club has sold several key players over the past 12 months, including Rio Ferdinand, Robbie Keane, Robbie Fowler and Jonathan Woodgate, in a bid to reduce costs that spiralled out of control following the club’s failed attempts to qualify for the lucrative Champion’s League tournament.
Former chairman Peter Ridsdale and Harrison have been blamed for the club’s dire financial position, which led to Ridsdale’s resignation and the appointment of Professor Peter McKenzie as his replacement.
Leeds United’s football team is still at risk of relegation to the first division – a situation that could lead to more drastic cost cutting.
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