David O'Leary has threatened to hit back at Leeds after claims he squandered transfer funds while at the club.

O'Leary, who was sacked on Thursday, is unhappy at suggestions he was fired because he wasted money on signings.

The Irishman argues he spent a net �60m during his time at the Yorkshire club and that most of his signings were successful.

"I've heard that the sacking could have had something to do with the players and that amazes me," he said.

"I've spent �60m and I don't think that was squandered. What concerns me is the spin put on it.

"I got the sack for reasons I can accept, but I will come out in anger if spin is put on it that is wrong.

"The club have spent �60m and have come a long way.

"As long as the club stick to the reasons I'll keep my silence and go peacefully.

"If I see some spin to suit the image of the club then I will have something to say. They have a great spin doctor at the club."

Leeds are yet to name a successor to O'Leary and chairman Peter Ridsdale insists a decision has not yet been made.

Yet O'Leary claims to already know who the club's next manager will be, and although he refused to reveal who it is, he wished him luck.

"Whoever gets the job good luck to them because they'll be joining a great club," he said.

"I'd like to thank so many people at Leeds. It has been tough but it's a great place to live.

"I've loved being here and the fans have been great. I'll remain friends with a lot of people at Leeds - if they stick to why I got the sack."