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Just four days ago Leeds announced on their official website that the club had not spoken to Venables about the position but in a statement to the Stock Exchange today they revealed: "Leeds United Plc announces the appointment of Terry Venables to the position of manager with immediate effect.
"He has today signed an initial two-year contract.
"Terry Venables has almost unrivalled football management experience, including spells at Tottenham Hotspur, Barcelona, England and Australia.
"In making this announcement Leeds United would like to place on record their thanks to ITV for releasing Terry from his existing Premiership and Champions League contract.".