Venables acknowledges that such a switch may seem attractive to Ferdinand, but insists the England centre-half has a lot to look forward to if he remains in West Yorkshire.

"We know he wants to win things, we know he wants to be at the top," Venables told the News of the World. "Well, I'll tell him he is at the top playing for Leeds United.

"This is a great club, a huge club - that's underlined by the reception I've received this week - and I do not want him to go anywhere else. I believe he belongs here.

"If a player joins a club that's constantly winning things, it's like latching on to someone else's achievements.

"Rio has a chance here of being involved in something that's new, and that's far more exciting - shaping the entire future of this club.

"That's the way players become legends. I want Rio's name to always be associated with a great Leeds team and it's my job to make that happen."

Venables has acknowledged that Ferdinand has not asked for an increase in wages to stay at Leeds.

But he believes the former West Ham star should go even further and pledge his allegiance to the club which paid over £18m (€28m) for him.

"Rio's still very young and there's still plenty of time for him to do other things," added Venables. "But sometimes it's pay-back time.

"People may not believe this of me, but I believe if you spend a lot of money on someone, like Leeds did on Rio, then they are entitled to pay-back time. By that I don't mean money, I mean honouring the contract.

"I do not want him to go anywhere. He has a contract and I think it's fair that contract is honoured - otherwise what's the point in having them?"