Revealed: Monk and Leeds players in line for mammoth promotion bonuses
By Alex Stevens
Garry Monk and his Leeds players are in line for mammoth bonuses of up to £11million if they win promotion to the Premier League in May, Football Insider can reveal for the first time.
Figures released in the club’s annual accounts on Friday show that promotion from the Championship will come at a considerable cost to the club.
The headline figure for the year ended June 2016 is that Leeds made a loss of £8.9million despite turnover increasing £6.1million to £30.1million.
But note 28 to the financial statement explained that the management and players are in line for huge top-up bonuses if they can secure a money-spinning return to the Premier League for the club after 13 years in the lower leagues.
“Promotion to the Premier League may also incur bonuses of £10.9million conditional on the performances of both players and football management,” reads the contingencies item in the accounts.
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This cumulative bonus, to be spread among the playing squad and coaching staff, is dependent upon the club finishing in the top three this season.
A place in the top two secures automatic promotion, with the next four best positioned sides then placed in the end-of-season play-offs in late May.
Leeds are currently fourth in the Championship with eight matches of the campaign remaining, eight points adrift of second-placed Brighton.
Despite these bonus costs facing Leeds, promotion to the Premier League is eyewateringly valuable for all promoted clubs following the £8.3billion broadcasting deal that came into effect at the start of this season.
The bottom club in the Premier League is entitled to a minimum of £100.5million in TV revenue and, bumped up by parachute payments and increases in sponsorship deals, kit deals and match day revenue, a season in the top flight is worth a staggering £189.7million in total.
In other Leeds transfer news, the club have sealed an out-of-window midfielder transfer.