Terry Venables last night made his first statement of intent as Leeds United's new manager by instigating talks aimed at preventing Rio Ferdinand's proposed £35 million transfer to Manchester United. Before cutting short a holiday in Spain, Venables contacted Ferdinand's agent Pini Zahavi and intends to speak to the unsettled England defender over the next 24 hours.

Venables will be unveiled as David O'Leary's successor at a press conference at Elland Road tomorrow, having beaten a furious Steve McClaren to agree a two-year contract worth an annual salary of £1.2 million.

In an exercise guaranteed to ingratiate himself with the Leeds supporters, many of whom have criticised his appointment, Venables will try to dissuade the club from selling Ferdinand to such a formidable rival.

Peter Ridsdale, the Leeds chairman, has made it clear that, in the wake of O'Leary's extravagant four-year tenure, the club need to make a £15 million profit in transfers this summer. However, the former England coach believes this can be achieved by selling fringe players such as Gary Kelly, Stephen McPhail, Michael Duberry, Jason Wilcox and Seth Johnson.

Before starting his search for a house in Yorkshire, Venables also plans talks with Lee Bowyer. His adviser, David Geiss, said yesterday that Bowyer was still on the transfer list and his situation remains unchanged.

He is willing to meet Venables, however, and it may be that he can persuade one of Leeds' most valuable assets to reconsider leaving the club just as a move was becoming more likely. Liverpool, who have long been rumoured as Bowyer's likely destination, approached Leeds last week with an inquiry about the midfielder.

Venables (59), is more optimistic about winning over Ferdinand and, at a meeting in London yesterday, Ridsdale asked the player's advisers to delay making a decision until he had spoken face-to-face with the new manager. Venables must then decide whether to retain the services of Brian Kidd, Eddie Gray and Roy Aitken or install his own backroom staff.

"The whole business had been conducted like a whirlwind. I can hardly believe it has been finalised so quickly," he said. "If people are surprised, it's no more than myself. I simply didn't anticipate this. But I am excited by the thought of it, genuinely excited."

It is a stark contrast from the situation facing McClaren, who has been left in an invidious position at Middlesbrough that threatens to compromise his relationship with the chairman Steve Gibson and the chief executive Keith Lamb.

While there was no direct contact between himself and Ridsdale, the Leeds chairman had held detailed negotiations with representatives of the Middlesbrough manager with a view to exploiting a get-out clause in his contract that allows him to join another Premiership club if compensation of £1.2 million were agreed.

Contrary to reports that McClaren had turned down the job, Leeds had actually been informed he was willing to leave Middlesbrough. The Teesside club would have been powerless to prevent his departure and a deal had been provisionally agreed until members of the Leeds plc board had second thoughts over the weekend. Ridsdale was informed that there were reservations about McClaren's close links with Manchester United, while it was also pointed out that Venables would not cost a penny in compensation.

Unbeknown to McClaren, Ridsdale boarded a private jet to the east coast of Spain where he had preliminary talks with Venables on Saturday morning at his villa in Javea. However, it was only on Sunday afternoon that the club's directors decided he had replaced McClaren as their preferred candidate. Ridsdale then contacted Leon Angel, business adviser for Venables, to confirm what the former Tottenham and Barcelona manager described as an "irresistible" offer.

All that was left then was for Venables to inform ITV he wanted to cut down his television work and for Ridsdale to contact McClaren's camp, late on Sunday night, to inform him that his services were no longer sought.

How it affects McClaren's relationship with Middlesbrough remains to be seen and his hastily issued statement, declaring his loyalty to the club, was clearly a damage-limitation exercise aimed at diffusing any animosity from their supporters.

Ridsdale was also keen to cover up the extraordinary chain of events, preferring instead to hail Venables as the outstanding candidate. "I firmly believe we have the best, the very best," he said. "I do think Terry is special. You talk to anybody in the game and they are almost unanimous in their verdict."

Nevertheless, there was a warning from O'Leary: "All Terry has got to do now is win something. He's been left a top-four club with very talented, young players and he needs to win some silverware. I just hope he manages to keep the players he needs."