Leeds United are bracing for losses of £73m next month

VaselineMay 27, 2024

0 2 minutes read

Leeds United are bracing for losses of £73m next month

Leeds United suffered a 1-0 play-off final defeat at Southampton on Sunday afternoon, dealing a major blow to the club’s finances ahead of the summer transfer window.

The Whites entered the season as one of the favorites to seal a return to the Premier League. By early April, it looked as if Daniel Farke would guide the Yorkshire side to automatic promotion, possibly even lifting the Championship title following Leicester City’s slump in form in February and March.

However, a 2-1 defeat away at Coventry City kicked off a disastrous end to the campaign. The Whites have managed just one win in their last six league games and despite beating Norwich City 4-0 on aggregate in the play-off semi-finals, Farke’s men would have missed out on the first leg by losing the final at Wembley, resisting. a third consecutive defeat to Southampton this term.

Leeds United are bracing for losses of £73m next month

This narrow loss at the weekend could have troubling financial ramifications for Leeds United in the coming months. Football finance expert and Price of Football podcast host Kieran Maguire revealed last month that the club still have £190m of outstanding player loan debt which will need to be dealt with before any new arrivals come on doors at Elland Road. .

The play-off final is worth between £135m and £265m, but those tasty fruits will now be devoured by yesterday’s winners. As a result, this transfer debt will have to be compensated.

Maguire issued a further update on the situation following the clash in the English capital, stating that £73m of the £190m owed to the club will need to be paid by the last day of next month. However, the bottom line is that Maguire claimed the club’s owners, 49ers Enterprises, would provide funding to pay that figure.

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Unfortunately for Leeds United, the club will spend another season in England’s second tier despite high hopes of returning straight to the top flight. As a result, parachute payments will be reduced from the 2024/25 campaign, meaning there will be less money to play in the transfer kitty.

Having Premier League football insurance would have helped Leeds balance their books and pay off their outstanding outstanding loan of £190m, but this will now have to be sourced elsewhere, which could prevent Farke’s ability to strengthen the squad this summer.

VaselineMay 27, 2024

0 2 minutes read

The writer’s vision

Vaseline

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