Venables lands £2m Leeds job

TERRY VENABLES, the great survivor of English soccer, made a dramatic return to the top flight today when he was named manager of Leeds United. He replaces David O'Leary, who was sacked 10 days ago.

Venables has signed a two-year deal believed to be worth £2m. But Leeds have also had to buy Venables out of his lucrative three-year deal with ITV as a pundit that was worth at least £500,000. The club's stock jumped 7.4% to 7 1/4p in early trade.

It marks a sensational return to management for the former Barcelona, Tottenham and England boss whose last job was as coach of Middlesbrough two years ago when he stepped in to assist Bryan Robson and kept the team in the Premiership.

Venables, 59, will be introduced at a Press conference at Elland Road on Tuesday. Leeds chairman Peter Ridsdale said: 'Leeds United would like to place on record their thanks to ITV for releasing Terry from his existing Premiership and Champions League contract.'

The Dagenham-born former England manager is on the crest of a wave, after a successful stint as a World Cup TV pundit. In a career spanning 40 years, his business failures and financial difficulties have been forgotten by most fans. Venables is known chiefly as the tactical genius who led Barcelona to their first Spanish title for 11 years.