‘Championship-bound forever’ – Leeds fans react to Kieran Maguire’s message
Leeds United fans are fearful for the future after their official accounts for last season’s Championship campaign were released.
Daniel Farke’s side have completely fallen out of form in recent weeks, seeing their five-point lead at the top of the Championship reeled in and since overtaken following just one win in their last five matches.
Leeds’ latest debacle came against Swansea City as two Illan Meslier errors saw them surrender the lead twice in a 2-2 draw, resulting in United dropping to second and level on points with third-placed Burnley.
Meslier’s position in Farke’s starting XI is therefore under immense scrutiny, as fans fear the risk of missing out on promotion to the Premier League if the error-strewn Frenchman stays between the sticks.
Calls for Farke to be dismissed – either immediately or at the end of the season regardess of its outcome – have surfaced in the wake of Leeds’ collapse in form, with automatic promotion the be-all and end-all.
Leeds United accounts shared after promotion failure
Leeds‘ first campaign back in the second tier last term was one of transition – with new ownership, a new manager and new-look squad – and despite reaching the play-off final, the ultimate outcome was failure.
On 1 April, Kieran Maguire posted on X to share the results of United’s accounts for the 2023/24 season, running from July 2023 to 30 June 2024, showing a significant level of losses across the board.
Football Insider revealed that Leeds did manage to cut their wage bill by £62million over that 12-month period, having seen their losses increase from £33.7m to £60.8m due to the sheer drop in TV revenue.
Leeds could see their matchday income help recover a 33 per cent reduction in revenue having hiked up ticket prices significantly at Elland Road, but the division they’re playing in will shape their future more than anything else.
Leeds United 23/24 accounts published: 🔑figures
Revenue £128m ⬇️33%
Wages £84m ⬇️42%
Amortisation £60m ⬇️27%
Underlying loss £70m ⬇️10%
Player sale profits £34m ⬇️54%
Loss before tax £61m ⬆️80%
Player purchases £38m
Player sales/departures £69m
Transfer fees paid for total… pic.twitter.com/6qFxQwuZLf— Kieran Maguire (@KieranMaguire) April 1, 2025
Leeds fans fear the worst after financial update – ‘We’re in trouble’
Football Insider revealed on 31 March that Leeds are well-placed to complete a deal for Rangers star Nicolas Raskin if promoted, but that’s far from the thoughts of the Elland Road faithful at the moment.
Even with both Leeds and Rangers set to be owned by 49ers Enterprises come the summer, fans aren’t confident in the US group’s capabilities, with some fearing a full Red Bull takeover if promotion isn’t won.
Despite the 42 per cent reduction in wages, Leeds fans fear the ramifications of a squad being paid £84m collectively remaining in the Championship, with parachute payments reducing further next term.
Promotion has become even more paramount in the eyes of a worried Leeds fanbase with just seven games left to play this term, as even one season in the top-flight could turn losses into profits.
Quite a loss, surely this isn’t sustainable?
— Christopher Soltysiak (@SoltysiakChris) April 2, 2025
£84m in wages and that was after the contractual wage cuts and various players going on loan. Mental
— Iain 🤍💛💙 (@LUFC_Ando) April 2, 2025
This is looking like the highest cumulative losses in one season in the history of the game
— David Schofield (@D_S_Schofield) April 1, 2025
Something is going to give
Be interesting to know what’s in the other costs. And reading this. Even if they go up I won’t be expecting any significant signings as a 70m loss even with increased tv revenue won’t balance the books.
— Yatesey (@D_Yates_) April 1, 2025
So do I read that without promotion were in trouble ?
— Dog (@pss53) April 1, 2025
It’s not a good read that……..puts even more pressure on us to get promoted even if it’s via the playoffs
— Twinny F (@runninggeek2) April 1, 2025
Presumably the reason why Red Bull pumped in ££££ at the start of the season. It’s looking increasingly like a RB takeover if we stay down.
— Northern Lifer (@northernlifer) April 1, 2025
It’s inevitable we are in April, statistically our worst performing month results wise and now we know financially we are goosed. We all know how the next month is gonna play out. Leeds soon to be the new Stoke City! Championship bound forever! #lufc @LUFC
— jdjeje (@leeddag1) April 1, 2025
Depressing, If we do go up we wont be going gung ho to strengthen the squad so it will be a horrible slog, If we don’t then we will be in a scrap for the play offs like West Brom and Norwich
— David O’Neill (@WACCOEinPaisley) April 1, 2025
Some of the EPL wealth needs to start going down the pyramid or clubs will go bust
for you fans thinking we have unlimited funds all the time you need to look at the loss of £70mil!!! You should now see how much club loses being relegated from PL and why we have to sell to survive, £120mil sales last summer keeps us going this season, crucial we get in PL ASAP
— Robert james (@Robertkas88) April 1, 2025