Bates said: "Leeds would improve the Premier League gates. We are the third biggest city in the country. There is London, Birmingham, then Leeds. Manchester is fourth not third.
"We have no debts and we pay our bills before they are due. Money doesn't bring you success. Go through the history of football, forgetting the oligarchs and the Bollygarchs.
"If you've got a guy worth £10,000-a-week and you pay him £3million-a-week, he's still a guy worth £10,000-a-week. He doesn't become a better player."