But the way overcame that 15 point penalty by winning their first five games of the season to wipe the slate clean was remarkable ... if not genius.
Suddenly Leeds were on a mission ... then along came Newcastle and snatched the little dynamo from under Ken Bates' nose.
The slide started and Gary McAllister took an age to settle in and get results, and that was the turning point of (what could have been) Leeds' rise back to the top.
Why Wise, who has his coaching badges and is/was tipped for the very top in management, gave it all up to become a talent scout at Newcastle still has many mystified.
A good talent scout? Well he is just getting started in the job, but his two alleged high profile deals have gone arse-over-tit.
Credited with the "amazing" way he conducted business to shift Shola Ameobi to Stoke City for £5m went up in smoke, with the Potters pulling the plug when they got promotion, and leaving the Mags with egg on their face.
And now Wolves, of all teams, have beaten Newcastle for Bournemouth striker Sam Vokes.
Vokes has completed his medical and signed a four-year deal with the Championship club, who missed out on a play-off place to Watford on goal difference.
According to reports from St James' Park last week, we had the deal in the bag. Not so!