Leeds ran up debts, amounting up to £100m and over, between 2000 and 2003 under Ridsdale and former club directors Allan Leighton, Stephen Harrison and Richard North.
All their roles were investigated by the government's Insolvency Service but no evidence of any malpractice was found and there are no plans to initiate disqualification proceedings.
Most of Leeds' debts amounted due to a huge spending spree on players and wages.
Ridsdale infamously declared "United had lived the dream" before quitting the club in disgrace in April 2003.