Leeds acting-chairman Trevor Birch today promised to consider an independent inquiry into the running of the club over the last five years.
With John McKenzie stepping down as plc chairman at the annual general meeting at Elland Road, albeit remaining on the football club board as a director, Birch has now assumed overall control and a new job title.
Initially appointed as chief executive, Birch will be in temporary charge until at least January 19th, the deadline agreed with creditors while a buyer is sought for the club currently £78million in debt.
Birch's appointment as a director was overwhelmingly agreed by shareholders, who understandably voiced their anger and frustration at how the club had managed to find themselves in such a financial mess.
One shareholder described the Leeds board, primarily harking back to the era under Peter Ridsdale, as "inept" and "incompetent", while another claimed they were now "the laughing stock of the football world".
Such accusations prompted a suggestion that Leeds should implement an independent inquiry to discover why the club stand on the brink of administration.
"Shareholders have a right to be angry," said Birch, who it has been revealed is the highest-paid director in the history of the club as he is earning £500,000-per-year, although he is continuing to work without a contract.
"On the face of it, it (the club's financial record) is difficult to defend as the results speak for themselves.
"But John came in, steadied the club and steered it through turbulent waters. The reality is the ship is still afloat.
"It may well have sunk if John had not implemented pretty difficult decisions in terms of taking cuts out of the business.
"In terms of an inquiry, all my efforts are concentrated on the club, and I'm not sure who would take it on and how it would be financed.
"But it's something to look at once Leeds United is safe. For now, we are totally geared towards saving the club."