Since the incorporation of colleges in 1993, when they became quasi-businesses, there's been plenty of financial troubles on which an aspiring football chairman can cut his teeth.
Professor McKenzie was once on the board of the London and South East Regional Council for further education (LASER). Like Leeds, Laser wasn't bankrupt but had its cashflow problems. Leeds fans may be distressed to know that it ceased to exist.
Email us: FErret@tes.co.uk