However, he has already conceded he may be forced to sell the Ferdinand if Manchester United come up with the money.

Ridsdale yesterday rejected an official transfer request from Ferdinand, but that situation could change if United - or any other club for that matter - offer between £30m (€46.6m) and £35m (€54.5m).

Ferdinand, 23, is due back for pre-season training with Leeds this morning, and he will meet the club chairman to discuss his future at Elland Road.

Ridsdale revealed that Leeds have already turned down one bid from Manchester United, believed to be for £20m (€31.1m), for their centre-back.

He told PA Sport: ‘‘We received an offer some weeks ago but that was rejected out of hand as we felt it to be derisory.

‘‘But we are a public company, I am merely an employee and I have a duty to shareholders to maximise the value of our assets.

‘‘If we receive any reasonable offers for any of our players, including Rio, we will consider it and debate it but that is not the position at the moment.

‘‘He has asked to be put on the transfer list at a time when there has not been an acceptable offer and that has been rejected.’’

Leeds are due to set off on a tour of the Far East on Saturday, and Ridsdale insists there is no reason why Ferdinand should not be on the plane.

‘‘There is no reason why that should change at this moment in time,’’ he said.

‘‘I have spoken to Rio. He has asked for a transfer, we have answered the question frankly and expect him to honour his contract.

‘‘I’ve no doubts he will going on the tour. He is still a Leeds player.’’

For all of Ridsdale’s fighting talk, Ferdinand’s move to Leeds’ deadly rivals appears imminent.

The 23-year-old is already talking about Leeds in terms of the past, and a senior source at Leeds plc confirmed that Schroders, the investment giants who are the major shareholders in the club’s parent company, would not stand in the way of a sale.

The situation again highlights the fact that player power rules in professional football.

Even if a player is under contract, if he is in demand and wants a move then nothing can stop him.

Ferdinand himself was quoted on Sky Sports News explaining his decision, saying: ‘‘For the past three days I have been torn apart. I love Leeds and the people of Leeds.

‘‘The club took a huge risk on me and I will never forget that.’’

Ferdinand’s agent Pinhas Zahavi went so far as to say his client would be ‘‘very happy’’ to join Manchester United because he wants to play for a ‘‘bigger and better club’’ than Leeds.

Zahavi told BBC Sport Online: ‘‘If they say no, then he will stay. He is a loyal soldier. But he would be very happy to join Manchester United.

‘‘He wants to play in a bigger and better club. He wants to play in the Champions League.

‘‘Going to the World Cup has given him the appetite to participate in a very high level of football. He wants to be competing for titles and medals. But I must reiterate that he is very happy at Leeds. He is not unhappy and he feels at home. If Leeds say he cannot go then he will honour the contract.’’

Ferdinand’s announcement is the moment Manchester United boss Sir Alex Ferguson has been waiting for. He can now press his club to find the cash to make his first signing of the summer - though that could also signal the exit door for misfit Argentinian midfielder Juan Sebastian Veron.

Ferguson views Ferdinand as the one player who can restore United to the pinnacle of the Premiership and challenge for the top in Europe again too.

Old Trafford chief executive Peter Kenyon said last week that Ferguson had spent the summer

‘‘thinking about strengthening his defence’’.

Ferdinand's decision to ask for a transfer will be a major disappointment to new Leeds boss Terry Venables, who was hoping to build his team around England’s best defender.

Venables’ only solace will be that he will at least have some serious money to buy new players.

If Ferdinand, Olivier Dacourt and Lee Bowyer are all sold Venables should be able to cough up the £15m (€23.3m) demanded by Ridsdale to balance the books and spend the whole of the fee they receive for Ferdinand on replacements.