But he doesn't square any circles here. He inherited a club that had a "big audience" (12,500) and a decent "product" (runners up to Wigan premiership and cup finalists 1995). Mr. Caddick built his stand and the facilities that provides the income streams.
He inherited a business that had a good product and had a large market to sell it to.
So he was in an excellent position to make a profit which has now sustained Leeds as the games top club over the last so many years.
Leeds weren't in a good way when he came on board, and good management has got them where they are today, although I will accept that the potential and size of the club will help push it further once its been turned around.
If you look at Salford now, MK has said that additional income streams are needed in order for the club to become sustainable, and that being a tenant in someone elses stadium is not going to get you anywhere. The thing is you need the money in order to set up these additional income streams, or to buy/build a stadium.
Chicken and the egg!