O'Leary defers Leeds pay-off

O'Leary is owed £2m by Leeds

David O'Leary says he will delay payment on the £2m severance he is owed by Leeds in a bid to help his former club out of a financial crisis.

O'Leary receives a monthly payment following his sacking last year.

Terry Venables and Peter Reid have a similar deal, but O'Leary says he will defer payments to every six months.

"You can't cut your ties with a club where you worked for a number of years and not feel something for them when things are going wrong," O'Leary said.

O'Leary retains strong feelings for the club and the fans and will now be paid £500,000 next month, with three more similar payments to follow.

"The supporters at Leeds have always treated me fantastically well," O'Leary said.

He added: "I still keep in touch with people at the club and friends of mine are supporters so I feel the way they do about what has happened.

"I have always said that I took no part in the financial side of things at Leeds.

"I recommended we might sign a certain player because he would benefit the team but it was left to others to decide whether the money was available or not.

"People there are working very hard to put a rescue package in place and I wish them well in everything they do."