Leeds sporting, the publicly-quoted parent company of Leeds United, has awarded 5.86 million share options to first team manager David O'Leary. This is thought to be the first time that a Premiership club has given its manager share options. Mr O'Leary has been granted the 5.86 million options at the current price of 14-1/2p sterling - or £850,000 sterling (€1.4 million). These options can be exercised between December 2003 and December 2007.

The options are the equivalent of 1.7 per cent of Leeds' current issued share capital. The options are an incentive for Mr O'Leary to stay with Leeds.