Leeds all set to bid for Stam

United were having none of that but eventually closed the deal early in the afternoon after agreeing to pay the sum in one up-front payment.

Ridsdale said: 'The increase in Rio's valuation since his £18m transfer from West Ham clearly signals a significant return on our original investment.

'Subject to him agreeing personal terms and passing a medical, he will be a Manchester United player. Everybody at Leeds wishes him all the best in his future career.'

United manager Sir Alex Ferguson is in Ireland doing charity work today and will continue to have little input in perhaps the most audacious transfer of his career.

Privately, Leeds are furious at the aggressive nature of United's pursuit of Ferdinand but will not publicly accuse them of making an illegal approach for the player. Venables said: 'United seem to think they are entitled to everything. If they get Rio, it will make me more determined to stop them lifting the title.'

As reported in Saturday's Sportsmail, Leeds have been offered Brazil defender Roque Junior by AC Milan and have also shown some interest in Valencia's Roberto Ayala, who continues to try to talk himself into a move to England.

As for Bowyer, he faces an uncertain future after his excessive wage demands ruined his move to Anfield. Liverpool issued a statement last night, which read: 'Gerard Houllier was not convinced Lee Bowyer had the hunger or the desire to play for the club.' Manager Houllier will now increase his efforts to bring in Damien Duff from Blackburn Rovers.