Leeds are still recovering from the debris of the Ridsdale era but he sees a bright new future for the club under Bates.
"I am very confident that if Ken has got into this he has done so because he is going to make a success of it," Ridsdale said. "I am assuming that someone like Krasner with his background hasn't sold something to somebody who does not have ability either personally or through his contacts to take Leeds forward.
"What Leeds have got is a good football man, he has made the odd mistake like me, but I believe Leeds will be better for it and he is better for it.
"There are teams in the Premiership with three times the debt of Leeds. Ken knows what the numbers are and has gone into this with his eyes wide open and I think Leeds fans should be looking to a new future. He wants to consolidate."