I thought Lerner promised to stand down?

A grey area... I think he said he wanted somebody to take over running the club. That could be somebody taking over as chairman. Equally, it could mean the CEO becoming effectively the person who runs the club.

Which is effectively what has happened. Whether that was what Lerner intended, or whether he's modified his position, is an open question.

As he's the person who writes the cheques (or not) I can't see him backing out completely.

I am grateful for what he did for the club but livid at most he has done.

Relegation and we are stuck with him I fear.