• Joe Cole and Florent Malouda will not start at Preston
• Midfielders kept in the wings for the title campaign

Carlo Ancelotti will rest Joe Cole and Florent Malouda for their FA Cup fourth-round tie at Preston North End having identified the next month as key to determining the destiny of the Premier League title.

Cole, who has started three games in a row for the first time since recovering from a serious knee injury, and Malouda were instrumental in inspiring the 7-2 demolition of Sunderland last weekend but will begin on the bench at Deepdale with Wednesday’s visit of Birmingham City in mind. The England midfielder remains no nearer to agreeing new terms at Stamford Bridge, though Ancelotti is “100% clear” Cole will still be at the club next season.

Chelsea will benefit from his freshness in a cluttered fixture schedule ahead, with the manager’s midfield options stretched by Michael Essien missing up to six weeks after tearing the meniscus in a knee while training with Ghana at the Africa Cup of Nations. In midweek the club slipped into second behind Arsenal on goals scored and Manchester United have an opportunity to take over the leadership by beating Hull Cirty . Ancelotti believes the month ahead could prove decisive in the championship pursuit.

“Arsenal have a strong period ahead – with games against Aston Villa, Manchester United, us and Liverpool – and it will be a big month in the title race,” said the Italian. “Any game can be difficult but the most important will be when we play against them on 7 February. They have a real possibility to win the title, of course. They and Manchester United have different qualities but [provide] the same difficulties. The table is very interesting at the moment because we have one point covering three teams.

“But it’s a perfect position for us to be in. To stay [joint] top of the list. We’ve been there since the start of the season. Now we’re in a very difficult period and we have to try and keep that position until the end. It will not be easy but I think we can arrive at the end of the season top. There’s far less pressure at the top of the table than for those teams with five, six or seven points less. I’d have more pressure further down the table.”

If the removal of Cole and Malouda, to be replaced by Deco and Daniel Sturridge, could constitute something of a risk given their recent form – Ashley Cole will also be absent nursing an ankle injury – then Ancelotti will retain John Terry, Frank Lampard and Nicolas Anelka at Deep- dale to limit the possibility of an upset. Essien’s injury will not alter Chelsea’s policy of not recruiting anyone during this transfer window. The club was already resigned to the Ghanaian’s absence at the Africa Cup of Nations before his knee injury.

The midfielder will, however, miss that critical game with Arsenal at Stamford Bridge and faces a race to be fit in time for the first leg of the eagerly awaited ­Champions League tie against José Mourinho’s Internazionale at San Siro. “[The scan showed] he had a tear in his meniscus and he will be out for four to six weeks,” Ancelotti said. “But we don’t need to buy. He wasn’t going to be here anyway in January. It’s not good news but I think we will do well still without him.”

Yet the club has no intention of planning for life without Joe Cole, whose current contract expires at the end of the season. “I don’t have any news on the contract of Joe Cole but he will stay at Chelsea next year,” added the manager. “I’m 100% clear. The club want to keep him and he has told me he wants to stay. He’s a very important player. It’s normal that you have a discussion about things like this [contracts]. The club wants to save and the player wants to earn more money. That’s normal.”

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• Cup not a distraction to promotion push
• Spurs will be targeting ‘chance to win silverware’

Simon Grayson believes tomorrow’s trip to White Hart Lane will prove a far more difficult challenge for Leeds United than their FA Cup tie at Manchester United. Jermaine Beckford humbled Sir Alex ­Ferguson’s side in the third round at Old Trafford but Grayson is anticipating that ­Tottenham Hotspur will be far more focused on ­getting a result.

“The expectancy level is obviously slightly higher, but Tottenham are one of the group of teams who, as well as aiming to qualify for the Champions League, will be targeting this competition as a major opportunity to win silverware,” said the Leeds manager. “They played earlier this week and again next Tuesday, so I expect they’ll make some changes, but probably not as many as Manchester United made. They’ll be close to their strongest.”

Grayson appeared genuinely amused when it was put to him that given Leeds, who are leading League One, have failed to win any of the three games they have played since the victory at Old Trafford, an ideal outcome in the fourth round match might be defeat with honour. “You try telling that to the chairman. Tell the [4,500] fans we’ll be taking to White Hart Lane, or the 9,000 we took to Old Trafford, that the Cup is a distraction.

“If we lose but come off with no regrets about the way we played, then so be it, sometimes you have to say they had that extra quality – but winning would be better.”

Having missed out on promotion in the play-off semi-finals last season, plenty of Leeds supporters would swap progress in the Cup for a league win, but Grayson insists performances have not fallen off. “Results have suggested we have not totally focused, but I’m more than happy with how we have played. We’ve conceded a couple of sloppy goals, which we’ve not been doing in the early part of the season, but we’ve created good chances and just haven’t had the breaks.

“You go through patches when you get results you possibly don’t deserve, which was sometimes the case in the first part of the season, and over the past three games we probably deserve better results than we’ve actually had. You have to live with that.”

Leeds will approach the game in the same relaxed but determined way they approached the tie at Old Trafford, he said. The former Leeds players Robbie Keane and Danny Rose could feature against their old club, though Aaron Lennon’s groin injury means a third misses out.

“We’d love for the likes of Keane and Lennon to still be in our team, but that’s football,” said Grayson, a little wistfully. “We went through that episode of selling our best players just to survive, and other clubs benefited, but we have to move on. Other players are coming through who will take the club ­forward, and this is another chance for them to show what they’re all about.”

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• Tottenham keen to attract striker but pay an obstacle
• Dutchman reportedly seeking £100,000 a week

Harry Redknapp has admitted that Tottenham Hotspur are keen to bring the former Manchester United striker Ruud van Nistelrooy back to England but warned that meeting the Dutchman’s reported wage demands could “kill the club”.

Van Nistelrooy suffered a serious knee injury in November 2008, two years after his £19m transfer from United to Real Madrid, and after a long rehabilitation doubts linger about the 33-year-old’s ­ability to recapture past glories.

He has failed to regain a regular place at the Bernabéu, making only two appearances for Real this season. He remains a highly sought-after name, however, with Stoke and West Ham also keen on him and, according to reports in Germany, the Bundesliga side Hamburg going so far as to agree a fee with Real for his transfer. That fee is believed to be relatively modest but he is reported to be looking for an 18-month contract worth in the region of £100,000 per week.

Redknapp said Tottenham’s chairman, Daniel Levy, had spoken with Van Nistelrooy’s representatives but suggested it was unlikely the player would be brought to White Hart Lane unless he agrees to a pay-as-you-play deal.

“I think that is the only option,” Redknapp said. “Don’t get me wrong, I’m a big fan of his, I’ve always admired him – I’ve met him a couple of times in the past and he’s great guy as well as a fantastic player – but it’s a massive gamble. You can’t be going: ‘Here you are, here’s whatever amount of money,’ to a 30-something-year-old and then he can’t play because he’s injured or something. There’s got to be a bit of give and take in whatever kind of deal you do with him. Play and you’ll make your money, if you don’t play, well, at least it’s not going to kill the club.”

Signing Van Nistelrooy would also depend on Tottenham’s ability to sell one of the current strikers, most likely Roman Pavlyuchenko, who has become a seldom-used misfit at White Hart Lane. Redknapp said he has yet to receive any bids for the Russian during this transfer window and ruled out allowing him to leave on loan.

Though he maintained he is “happy with what I’ve got at the moment”, Redknapp is aware that fulfilling the club’s ambition of securing a Champions League spot this season may entail strengthening his squad and admitted that other potential transfer targets are under close observation. Twice this month he has flown to Italy to watch matches and he acknowledged that “we’ve looked at” Palermo’s Danish centre back Simon Kjaer.

He rubbished reports linking him with another Serie A-based central defender, Juventus’s Giorgio Chiellini, and Real Madrid midfielder Mahamadou Diarra, but disclosed that after today’s FA Cup tie against Leeds United he will again fly overseas – “probably Holland” – to “follow more leads”.

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• No shortage of investors for MU finance bond
• Seven-year scheme gives owners breathing space

Manchester United today successfully completed their controversial refinancing as expected, raising £504m that will be partly used to repay the onerous hedge fund loans taken out by the Glazer family to buy the club.

It is understood that the bond issue, which has provoked a furious backlash from some fans as it laid bare a business model that has saddled the club and their owners with debts of £716.6m, was twice over-subscribed.

The success of the MU Finance bond issue, combined with the fact that the interest (yield) that must be paid on it was within the hoped for range of the five banks that managed it, suggests that the club’s argument that they could continue to grow revenues, invest in the squad and meet debt repayments was accepted by investors.

The Manchester United chief executive, David Gill, has over the past fortnight led a global roadshow across Asia, Europe and the US to sell the idea to investors, arguing that the club’s iconic brand and global commercial potential made them a safe bet despite the large debt they are carrying.

While some traditional funds were unable to touch the bond because it was unrated, and some fund managers argued the club’s debt made it too risky at the price, the issue was still oversubscribed by a factor of two.

The money has been raised in two tranches – £250m at 8.75% and $425m at 8.375%. It will be used to pay off the £509.5m that United owe to four banks at an interest rate of just over 5%.

The seven-year scheme will give the Glazers further breathing space to pay back the money they loaned to buy Manchester United and, crucially, allow them to use money from the club’s cash flow to service their high interest £202m “payment in kind” debt that has been secured on their shareholding in it. The original loans had already reached £202m and were rolling up at 14.25% a year, a rate due to increase to 16.25% this summer.

But, although the Glazers will now be able to reduce their own onerous hedge fund loans, it leaves the club carrying a debt that must be repaid at a higher interest rate over a longer term.

The small print of the 322-page bond prospectus circulated to shareholders last week provided for the Glazers to channel up to £127m, including a one-off payment of £70m out of money raised from matchday income, TV contracts, sponsorship deals and transfer fees, to their parent company in the first year.

Supporters were also alarmed at provisions that will allow the Glazers’ parent company to take control of the Carrington training ground and sell it on a lease-back basis as well as the fact that much of the revenue raised by the club was being used to service debt. Accounts for the Glazers’ parent company show that, even allowing for a profit of £80.7m on player transfers, the parent company made a profit of only £6.4m due to the need to service debts.

The details of the bond issue have angered fans’ groups who say it proves the extent to which the Glazers have taken money out of a profitable club simply to pay for their purchase. Six family members have taken £10m in loans at preferential rates and the bond issue makes provision for £9m a year in fees and management costs.

Some fund managers had said a double-digit return would have been more in keeping with the risk profile but it is believed the club’s strong brand, a buoyant market for new issues and the fact that some of the hedge funds involved had already invested in the club’s debt helped the Glazers and Manchester United executives get the scheme away.

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Controversial columnist’s offensive online messages rasie questions over potential Independent editorship

It began as a series of tasteless, vulgar conversations about race, religion and sex on a football fan website, but it could end with Rod Liddle, the former Today editor turned controversial columnist, being denied the chance to edit the Independent.

Liddle felt compelled to explain in the Jewish Chronicle today why he posted a comment on the fan forum Millwall Online complaining that he couldn’t smoke at Auschwitz. In his article for the paper, Liddle described as “absurd” suggestions that he is antisemitic.

He has used Millwall Online, which has no official links to the south London club, to say: “It’s fucking outrageous that you can’t smoke in Auschwitz. I had to sneak round the back of the gas chambers for a crafty snout. Also, I wasn’t convinced by the newish Auschwitz Burger Bar and Grill.”

Liddle used the Chronicle to claim: “My point … was that I felt it had been stripped of its awfulness and bleakness … festooned with no smoking signs and disabled access ramps.”

His intervention came at the end of a week when his credentials as a possible editor of the Independent had been called into question.

Alexander Lebedev, the Russian billionaire who last year acquired a controlling stake in the London Evening Standard, is in negotiations to buy the Independent from its Irish owners. He is thought to have lined up Liddle, who writes for the Spectator and the Sunday Times, to replace the incumbent editor, Roger Alton.

Liddle has posted dozens of messages on Millwall Online using the pseudonym Monkeymfc, including, allegedly, derogatory comments about Somalis, insulting references to the ITV newsreader Mary Nightingale and racist comments.

Liddle has admitted that he posted most of the comments, although he fiercely denies writing one that suggested black people were less intelligent than white people or Asians.

He told the Guardian: “All of these things are twisted out of context to make me look like a cunt. I may be a cunt but I’m not a racist cunt.”

He said the language he uses on the site was “not the language of the Guardian editorial pages” but said he was still using the site as a way of communicating with some of his closest friends.

He also pointed out that he routinely argued with racists on Millwall Online.

For a self-styled iconoclast who earns a living by writing provocative prose, however, he seems to have been shaken by the reaction to his comments.

“There are a few people in the metropolitan liberal left who think it’s not enough to disagree with me, and that I should be sullied and slurred,” he said.

Liddle’s profanity-laced remarks were immediately seized upon by critics who claimed that he was the wrong person to edit the Independent.

A Facebook site entitled “If Rod Liddle becomes editor of the Independent, I will not buy it again” has attracted more than 4,000 members.

The Spectator’s editor, Fraser Nelson, defended his star columnist: “If you look at Rod’s journalism over the years it is fairly clear that he abhors racism. His beef is with multiculturalism.”

He described the criticism Liddle has been subjected to as “Rod hunting”.

A spokesman for the Sunday Times decline to comment, but it is thought that Liddle’s job there is safe.

‘Monkeymfc’ speaks

Rod Liddle has been attacked for comments he posted on a Millwall supporters website under the moniker Monkeymfc. This is what he is quoted as saying and his response:

What “Monkeymfc” wrote about black people: “On average a little under 10 per cent thicker than whites; 15 per cent thicker than east Asians. I thought everyone knew, too.” What Liddle says: “Someone’s hacked in [using Liddle’s password].

Monkeymfc on Swindon’s black footballer Kevin Amankwaah: “**** off you spearchucking African ****.” What Liddle says: “I was quoting what had been allegedly said to a black player from another team and JUSTIFYING why that player then said something very nasty indeed in return.”

Monkeymfc on blogger Jo Owen. He wrongly assumes he is a woman: “Stupid bitch. A year eight sociology lecture from someone who knows fck all … Someone kick her in the cnt”. Liddle [in reply to a blogger]: “I don’t remember saying it and it certainly doesn’t read like me, but it’s quite possible that at some point I might use that terminology to make a certain point, perhaps the opposite to the one you imagine.”

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• Club claim Paul Duffen breached duty as director
• Allegations that agents paid for business deals

Hull City today accused the club’s former chairman Paul Duffen in the high court of personally accepting “bungs” from agents in return for making sure the club did business deals with those agents.

That claim was made in a court action in which Hull are suing Duffen for damages, for the alleged bung money to be paid to the club, and for the return of money and property they claim Duffen “acquired” for himself while he was a director. Duffen accepted that a legal charge be placed on a property he owns, in favour of the club, to secure the money claimed, although he denied all the allegations made against him.

In their claim to the court, City allege that agents, who are not named, paid bungs to Duffen via Reef Securities, a company registered in the Bahamas with an office in Guernsey.

“In breach of his employment contracts and fiduciary duties to [the club] as … director,” the claim states, “certain monies were paid by third-party football agents to [Reef Securities] on [Paul Duffen’s] behalf, in return for which [Duffen] procured that [the club] contract with the agents for business.”

The claim also alleges that Duffen: “Used [the club’s] monies for his own personal expenditure”, and that “property, monies and other rights [were] acquired by [Duffen] through his use of [the club’s] money in breach of authority and breach of trust”.

A further allegation is that Duffen “was very frequently absent from the stadium, which was his designated place of work” while he was the chairman.

The document states that Duffen did not simply resign as a director on 26 ­October last year, as announced at the time, but that his resignation followed “his suspension”.

This court action, thought to be the first by any English football club alleging that one of their employees or directors have accepted bungs, follows the turmoil in the autumn when Duffen resigned. The club’s accounts, filed ­several months late, included a statement from the ­auditors that Hull had to find £16m additional funding within a year if they survive in the Premier League, and £23m if they are ­relegated. The accountants warned: “These matters represent a material uncertainty that may cast significant doubt over the company’s ability to ­continue as a going concern.”

The former chairman Adam Pearson returned to the KC Stadium, having been appointed as chairman by City’s owner, the Essex-based property investor ­Russell Bartlett, and immediately appointed accountants to undertake a thorough investigation of the club’s financial affairs. The new chairman warned that the wage bill had risen far too high and too many players had been signed under Duffen’s period in charge, during which Hull had won their promotion to the Premier League in 2008 and survived in the top flight last season.

In December, Pearson said Hull had ­contracts committing them to paying agents “over £4.5m” during a 12-month period. It was, however, not known until yesterday that City had instigated proceedings against Duffen, accusing him of taking bungs from agents and using club money for himself and to acquire property.

Duffen denied all the claims, with his barrister, Lexa Hilliard, saying that the agreement for him to have a charge over his property “is not to be taken in any way at all as an admission by Mr Duffen of any of the allegations made against him”.

Duffen has claimed that Hull owe him money for the early termination of his contract as the club’s chairman, although the club denied that any legal proceedings had been issued.

City’s lawyer, Clive Zietman, of the firm Stewarts Law, said: “The club will be ­vigorously pursuing this claim.”

Duffen is required to file his defence next month.

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Venue Old Trafford

Tickets Sold out

Last season Man Utd 4 Hull 3

Referee S Bennett

Sportingbet odds Man Utd 1-8 Hull 14-1 Draw 6-1

Manchester United

Subs from Foster, Kuszczak, Neville, Owen, Anderson, Giggs, Scholes, Nani, Welbeck, Fábio, Rafael, Gibson, Macheda, Obertan

Doubtful Foster, Macheda

Injured Hargreaves (knee), O’Shea (thigh), Vidic (calf)

Hull

Subs from Duke, Fagan, Barmby, Altidore, Garcia, Halmosi, Kilbane, Mouyokolo, Sonko, Cairney, Zaki

Doubtful Marney, Zaki, Zayatte

Injured Ashbee (knee), Bullard (knee)

Unavailable Cousin, Olofinjana

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Leeds will have fond memories of this season’s edition of the Cup, no matter what happens next, but, having disposed of Manchester United in round three, they have the taste for upset glory. Simon Grayson’s League One leaders will travel to London with great expectations. Tottenham have stuttered in the Premier League and Harry Redknapp has admitted that Manchester City are now the favourites to break up the established Big Four. The Cup assumes greater significance at White Hart Lane. David Hytner

Venue White Hart Lane

Ref A Wiley

Odds Tottenham 1-4 Leeds 8-1 Draw 17-4

Head to head Tottenham wins 35 Leeds wins 31 Draws 28

Tottenham

Subs from Alnwick, Corluka, Bentley, King, Pavlyuchenko, Rose, Giovani, Defoe, Huddlestone

Doubtful Huddlestone, King

Injured Assou-Ekotto (ankle), Cudicini (wrist/pelvis), Hutton (groin), Lennon (groin), Woodgate (groin)

Leeds

Subs from Higgs, Doyle, White, Grella, Hughes, Michalik, Jones, Kandol

Doubtful Higgs

Match pointers

Tottenham have not conceded at home in any competition for 447 minutes. Leeds have failed to win in three league matches since their third-round victory over Man Utd.

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Lee Barnard, who swapped Southend for Southampton yesterday, is likely to watch at least the start of this game from the bench, the Saints’ assistant manager Dean Wilkins describing his potential impact as “a mouth-watering prospect”. Roy Keane won the Cup three times as a player, and has not given up hope of a fourth medal this year. “You’ve got to dream,” he said. “I used to dream of winning the FA Cup as a kid. Dreams do come true, believe me.” Simon Burnton

Venue St Mary’s Stadium

Ref A Hall

Odds Southampton 6-4 Ipswich 8-5 Draw 11-5

Head to head Southampton wins 20 Ipswich wins 25 Draws 18

Southampton

Subs from Fonte, Forecast, Holmes, Saganowski, Gillett, Papa Waigo, Pulis, Barnard, Hammond

Injured Jaidi (eye), Murty (ankle)

Suspended Schneiderlin

Unavailable Seaborne, Otsemoboor

Ipswich

Subs from Lee-Barratt, Murphy, Bruce, D Wright, Martin, Couñago, Quinn, Priskin, Edwards

Doubtful Murphy

Match pointers

Ipswich suffered their biggest ever FA Cup defeat (7-1) at Southampton in 1961. Southampton have won all three of the previous cup meetings between these sides.

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Roberto Mancini’s multi-millionaires will doubtlessly find the environs of Glanford Park something of a comedown from beating Manchester United on Tuesday night, and with the second leg at Old Trafford next week, expect the Italian to field an under-strength team. However, that may include Robinho and Shaun Wright-Phillips. Scunthorpe do not quite have that depth and were beaten 5-1 at Eastlands in the Carling Cup earlier this season, but are a stronger side at home. Paul Chronnell

Venue Glanford Park

Ref K Friend

Odds Scunthorpe 13-2 Man City 7-20 Draw 100-30

Head to head Scunthorpe wins 0 Man City wins 5 Draws 0

Scunthorpe

Subs from Murphy, Togwell, Milne, Sparrow, McCann, Jones, Forte, May, Morris

Doubtful Jones

Manchester City

Subs from Given, Sylvinho, Barry, Tevez, Kompany, Bellamy, Zabaleta, Vidal, McDermott

Doubtful Onuoha

Injured Bridge (knee), Johnson (knee), Lescott (knee), Santa Cruz (calf), Vieira (calf)

Unavailable Adebayor, Touré

Match pointers

Manchester City have won all their five meetings with Scunthorpe, scoring 26 goals in the process. The hosts have not reached the last 16 of the FA Cup since January 1970.

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