Leeds United owner Andrea Radrizzani claims that the club were trying to agree a lucrative new contract with striker Chris Wood in the four weeks leading up to his transfer to Burnley and has quickly moved to reassure concerned supporters that the money earned from that lucrative sale will be reinvested into the playing squad.
The Whites had initially blocked two bids for last season's Championship top scorer, although their firm resistance was finally broken over recent days as they accepted a third club-record offer believed to be worth £15m ($19.3m). Burnley were seeking to replace Andre Gray, who joined Watford for £18.5m earlier this month.
New Zealand vice-captain Wood subsequently declared himself unavailable for selection for a 2-0 victory over Sunderland at the weekend and completed his return to the Premier League on Monday (21 August), penning a four-year deal to become Sean Dyche's sixth signing of the summer to date.
The loss of a prolific forward who notched 44 goals in a two-year spell at Elland Road just 10 days out from the close of the transfer window has understandably caused some consternation that it could damage the promotion hopefuls Leeds' impressive start to life under Thomas Christiansen.
However, Radrizzani, who completed his buyout of controversial Italian compatriot Massimo Cellino back in May, insists that the profits will be used to further strengthen a squad that has already welcomed no fewer than 12 new additions over recent weeks.
"For the past month we have tried to negotiate a new three-year contract with Chris Wood," he said in a statement released via Leeds' official website. "We offered the player strong financial terms including reasonable exit clauses, lower than the fee we demanded for a transfer this summer, should the club not reach the Premier League in a certain time frame.
"However the player's preference was to leave Leeds United and as he only had one year left on his contract after this season we had to protect the club and ensure we did not sell Chris below our valuation.
"We want players at Leeds who consider us a big club and we want players who are committed to our vision to return to the Premier League. Supporters can rest assured that monies generated from the sale of Chris Wood will be reinvested into adding to the 12 signings we have made already. Thank you for your continued support."
Attention has quickly turned to sourcing an adequate replacement for Wood, with Sky Sports reporting that Leeds have already approached Championship rivals Middlesbrough regarding a deal for Rudy Gestede.
A possible return to West Yorkshire for Aston Villa outcast Ross McCormack has also been mooted, while Leeds and Celtic are both said to hold an interest in Arsenal's Chuba Akpom.