Leeds chairman Peter Ridsdale "sincerely believes" Terry Venables will stay on as manager despite the imminent £9 million sale of Jonathan Woodgate to Newcastle.
The deal was against the expressed wishes of Venables, who last Friday stated he would consider his future at Elland Road if the 23-year-old England international centre-back was allowed to leave.
Venables met with Ridsdale and the club's other directors at the club's Thorp Arch training complex today to discuss the ramifications of Woodgate's potential departure.
It is believed Venables has stated he will remain at Leeds for Saturday's clash at Everton, and possibly beyond until the end of the season, which if he does will earn him new-found respect from Ridsdale.
"Terry Venables did not want to sell Jonathan Woodgate and I respect that and I hope he stays," Ridsdale told BBC Radio 5 Live.
"If he does I will admire him for it because he is a very, very good manager who the players love.
"I sincerely hoped we wouldn't get a bid for Jonathan, in which case we wouldn't have this issue, but the minute that bid came in writing - of this magnitude - I was duty bound to consider it, which is what we've done.
"I have the utmost respect for Terry for standing up and saying what he wants to say, that he didn't want to sell.
"I hope he and I will sitting shoulder to shoulder looking to the future of Leeds United Football Club. I sincerely believe he will stay.