By Harvey Byrne
Leeds fans on Twitter have blasted chairman Massimo Cellino after the club announced losses of £8.9million on Friday afternoon.
As per Football League rules a club is required to announce their financial status and the Yorkshire giants were compliant with Football League’s Financial Fair Play rules and have avoided a transfer embargo.
However, Phil Hay, chief football writer for the Yorkshire Evening Post has shared on his personal Twitter account that Leeds have made a big leap from just a £2million loss in the 2014-15 financial year to £8.9million.
Leeds United have released their accounts for the 2015-16 financial year. Bottom line is an £8.9m loss, up from £2m in 2014-15. #lufc
— Phil Hay (@PhilHay_) March 24, 2017
The overall financial picture. "Exceptional costs on commercial disputes/stock write down" was largely the severance of the Macron kit deal pic.twitter.com/pmznVzLJth
— Phil Hay (@PhilHay_) March 24, 2017
This has noticeably caused some anger around the Leeds fan base on social media and many supporters have aired their feelings towards controversial chief Cellino.
Some sections of the fan base posted sarcastically “thanks” and “fixed the club”, while another claimed he was totally incompetent.
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Here are a selection of their messages on Twitter:
https://twitter.com/sparkylufc1970/status/845291388363247616
cheers Massimo #savedus
— IsThatConfirmed (@IsThatConfirmed) March 24, 2017
Mostly Massimo's court costs.
— R.Cartwright 💙💛 (@rogercart57) March 24, 2017
#lufc
Credit to Massimo for increasing the annual loss from £2mn to £8mn.— Tony D. (@tonypdickinson) March 24, 2017
https://twitter.com/benleeds/status/845293779116609536
https://twitter.com/MGlufc/status/845298416796286977
https://twitter.com/MGlufc/status/845298687429562369
It's ludicrous. Like everything else MC touched. Madness and incompetence from beginning to end.
— Petter-Andre (@petter_andre) March 24, 2017
Leeds have struggled financially since suffering relegation in 2004 and they even entered administration in 2007.
They have since had an embargo placed on them in 2015 under the ownership of Cellino after they breached Financial Fair Play rules.
But, in football terms an £8.9million loss is not too much compared to others and with a possible promotion to the Premier League at the end of the season, that could soon prove meaningless.
In other Leeds news, Championship fans have given their verdict on this Whites summer signing.
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