The signing of Oldham striker Matt Smith was announced on 10 June but 18 days later the Yorkshire Evening Post reported that McDermott would have to start selling players to free up space for newcomers with GFH having little or no funds available for transfers. El-Hadji Diouf, David Norris, and Adam Drury were all made available for transfer with a view to cutting the £15 million wage bill. McDermott confirmed he had already received enquiries for one or two players.

Steve Morison left on a season-long loan to former club Millwall, allowing McDermott to secure an old favourite, 30-year-old Reading striker Noel Hunt, on a free transfer.

Also arriving on a three-year deal was highly rated Crewe midfielder Luke Murphy, for whom United paid £1 million, making him the club's first seven-figure transfer since Richard Cresswell joined from Preston in 2005.

United kicked off the season playing hosts to Brighton. The game drew a crowd of 33,432, the first time the 30,000 mark had been exceeded in the Championship in almost 17 months and the highest league gate for three years, a telling increase of around 10,000 on the previous year's opener against Wolves.

It was the first match since the departure of Bates, something the crowd celebrated with chants directed against the 'Chelsea bastard'. There was a 'new dawn' feel to the affair, but the supporters were hushed by an early goal from Leonard Ulloa. There were sighs of relief when McCormack equalised within five minutes.

The game was drifting to a draw when Murphy snatched a debut winner with virtually the last kick of the game in the fourth minute of stoppage time. Smith knocked down a long ball for Murphy to drive home, the goal standing despite strong suspicions of handball.

United failed to build on a promising start in the derby against Sheffield Wednesday on 17 August, requiring an equaliser from McCormack on the hour to cancel out the Owls' first half goal.

The goal was delicious; receiving the ball 40 yards from goal, the Scot scuttled forward with the defence stretched. He slipped the ball perfectly round a defender, left him for dead, and coolly slotted a strike past the goalkeeper.

The sublime contribution emphasised McCormack's value to a team that was distinctly average. McDermott was quick to acknowledge the quality of his star man and the difference he made to the team.

McDermott and McCormack formed a powerful bond in their time together, each recognising the value of the other and the importance of loyalty. The manager was consistent in his advice to the board. Middlesbrough launched a persistent attempt to sign McCormack. Three times in a fortnight the Teessiders came in with a bid (starting at £1 million, then £1.3 million, and ultimately £1.5 million) and three times the bid was rejected on McDermott's say so.

However, the board was adamant that some players must be sold in order to balance the wage budget. During his celebration of the goal against Wednesday, it seemed as though McCormack was cupping his ears towards the East Stand, from where the directors watched the match.

Manchester United centre-back Scott Wootton arrived and debuted in a Capital One tie at Doncaster; 18-year-old midfielder Alex Mowatt was also given a first start. It was a memorable night for both men.

Wootton snatched a poacher's goal after 41 minutes. Academy graduate Mowatt was enjoying a decent debut and provided the searching cross to the far post which Smith guided into a gaping hole in Doncaster's box. Arriving with a late run, Wootton nodded home off the underside of the bar. There was also much to admire in his calm defensive display.

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Former United striker Billy Paynter scored for Doncaster with his first touch after coming off the bench, but late goals from Smith (his maiden effort for Leeds) and McCormack secured victory.

There was more good news when McCormack agreed an improved four-year contract, but August wound down with United's unbeaten start at an end. QPR defender Clint Hill scored the only goal of the Elland Road clash with the Championship heavyweights after 75 minutes.

United had matched the Londoners for most of the game and they came close to snatching a point when Austin's stoppage time strike from 30 yards rattled the bar.

A Varney goal secured victory against struggling Bolton at the Reebok on 14 September, edging United into the Play-Off places and McDermott crowed, 'The mindset of the players has probably changed since I came to Leeds. There was a little bit of something back then - fear's too strong a word, but that sort of thing. What we've got now is fearlessness. There's anticipation about wanting to go out and play and the anxiety's gone.'

United were on the big national stage on 25 September, paired with Premier League Newcastle United at St James Park in the Capital One Cup.

After the previous season's Cup exploits, there were hopes of more excitement, but United never got out of the starting blocks, losing 2-0.

They lost by the same score at Millwall on 28 September, a third Championship setback in a row. McDermott desperately needed the same loyalty from the board that he had shown when emphatically distancing himself from the vacant role as manager of the Republic of Ireland. What the manager received was a tepid show of support from Salah Nooruddin, tweeting that the club was looking to reinforce, while opining that the squad was good enough to have seen off Millwall.

McDermott had shown some indecision as the going got tough and struggled to settle on his best formation and selection. Against Millwall, he deployed Varney as lone frontman with Mowatt, McCormack, and Tonge supporting from deep. It made no difference and United were horribly outfought by another team with the Indian sign over them. It was clear where the problem was, they had managed a single goal in five games and the failure to find a proper replacement for the departed Becchio was sorely evident.

United scored late to beat Bournemouth 2-1 but then lost 3-1 at bogey club Derby County, under new manager Steve McClaren. They recovered to hammer Birmingham City 4-0 at Elland Road on 20 October with one of their most comprehensive performances of the season.

McDermott was now operating with three centre-backs (Wootton, Lees, and Pearce) and deployed Byram and Warnock as wing-backs in a five-man midfield.

It certainly worked for McCormack and Smith, scorers of three of the goals, and the two were beginning to form a productive partnership.

In the wake of the victory, United recruited Nottingham Forest striker Dexter Blackstock, the club's 75th loan signing since 2004, and signed Hearts central defender Marius Žaliukas, a Lithuanian international, on a short-term contract.

Blackstock came on as a 72nd minute sub in the derby at Huddersfield on 26 October and scored almost immediately to make it 2-2, but Jon Stead won the game for the Terriers when he added their third a few minutes later.

The striker seemed set for a healthy future at the club but managed just four games before both his loan spell and his season were ended when he sustained a knee injury in training. He returned to Forest on 10 December.

By November, GFH Capital had sold more than half of its shares. IIB had bought 10% and Nooruddin possessed at least 10% through his Envest vehicle; he also owned 5.71% of GFH Capital's share.

Gulf Finance House had already booked a $10.4m profit on the Leeds deal in its 2012 financial statements but there was speculation that the club were closing in on a 'multi-million pound investment', with global drinks giant Red Bull said to be waiting in the wings.

LUST was preparing its own bid and a 'wealthy interested party' had offered to match pound for pound any monies raised by them. LUST also declared their support for a bid by TogetherLeeds, a group involving Lucas Radebe, Adam Pearson, Welcome to Yorkshire chief executive Gary Verity, and ex-Manchester United employee Mike Farnan, though their £7 million offer for an 80% stake was rejected out of hand.

Pearson denied involvement, but Radebe confirmed he was part of a consortium which had submitted a 'preliminary indication of interest', saying, 'Leeds United has a special place in my heart. Ever since I retired, I have been considering ways to get involved at the club. Working at board level with an equity interest would be the pinnacle. It is my dream scenario.'

But the smart money was on David Haigh's Sport Capital company, the vehicle for a consortium of businessmen, including Enterprise Insurance managing director Andrew Flowers, a lifelong United fan.

Enterprise, who were in their third season as the club's main sponsor, extended their sponsorship agreement on 2 September 2013, with the shirts due to carry the Enterprise brand until June 2017.

Enterprise had advanced working capital, on 22 October 2012 agreeing a 7% fixed rate secured loan note of £1.5 million, repayable in 2015.

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In November 2013, Haigh confirmed that Sport Capital was providing a 'seven-figure investment' to support McDermott's transfer plans. The accounts confirmed the amount as £1,775,000. At the end of the month, GFH Capital granted a period of exclusivity to Sport Capital, which had signed a share acquisition agreement for 75% of the capital, with GFH retaining a significant stake.

Sport Capital had been funding the club during the transitional period and would continue to do so until the takeover was completed, expected before the end of 2013. The only barrier to progress seemed to be Football League approval of the offer.

Haigh claimed that they planned to buy back the Elland Road stadium and were negotiating the return of Max Gradel.

According to Flowers, 'a lifelong Leeds United fan', Sport Capital was working hard to ensure that due diligence was completed as quickly as possible and echoed Haigh's promise that funds were in place.

Haigh also announced a partnership with NFL's San Francisco 49ers. A delegation from the American Football pioneers met senior club officers to discuss key areas of the business, including sponsorship and commercial opportunities.

As a result of the news, Gulf Finance House share prices increased almost 15% to a two-year high and confirmed in a statement to the Dubai Financial Market that it had signed an agreement with a consortium of British investors for a partial sale of its shares in the club.

But there was a hint of discord when GFH representatives refused to sanction the proposed transfer of Ashley Barnes from Brighton, a deal that had been reported to be 'as good as done'. United had the cash in place to pay an up-front fee of £500,000 and were confident of persuading Barnes to reject Burnley's offer in favour of signing a contract at Elland Road.

Sport Capital's emergence as owners in waiting suggested that GFH's influence had waned significantly but the dispute over Barnes raised questions about worrying divisions at the highest level.

Despite GFH confirming that they would retain a 10% shareholding, the Sport Capital deal was floundering with the parties at odds over 'unspecified issues relating to the terms of the sale'.

Neither side would offer any comment since a statement released by Sport Capital that the buyout had taken 'longer than we anticipated', though they vowed to work towards a 'successful conclusion sooner rather than later'.

Part 2 Life During Wartime - Part 3 Manager Eater - Results, table and transfers