"I'm sure it will give the fans a lift. They've been terrific this year and couldn't have given us more support."
Gray also paid tribute to Trevor Birch, who has been succeeded as chairman by takeover consortium leader Gerald Krasner.
"Birch has been working very hard since he joined the club to put things right, so I'm pleased for him.
"You look at the position the club found itself in and we spent money we never had. That's something the new board will have to look at."
Consortium advisor Geoffrey Richmond revealed that Leeds' highest-earning player earns £3.5m a year, and that contracts worth £11m will expire at the end of this season.