Leeds transfer budget given huge new injection, journalist reveals exact sum available

By Richard Parks

Nearly £9million of Leeds United shares have been registered by a firm controlled by owner Andrea Radrizzani – and a reliable journalist has claimed it will all be spent on summer signings.

Yorkshire Evening Post correspondent Phil Hay uploaded Companies House documentation of the rights issue to pave the way for new investment in the Championship club.

Asked by a Leeds fan if the money coming in would have an impact on the club’s summer spending plans, Hay replied he had been told it will all be used for transfers.

It comes after a loan of almost £9m made to the club by Greenfield Investment Pte Ltd, a firm controlled by Radrizzani’s investment company Aser, was converted into club shares last week.

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Radrizzani has come to realise that a mid-table budget is rarely enough to seal a top-table finish. The promotion candidates are usually the ones who spend the most (Wolves are the perfect example, just as Newcastle United were 12 months earlier), unless a club can hire a manager capable of producing miracles, as Neil Warnock has done at Cardiff City but couldn’t do at Leeds. United posted a near-£1million profit on a £34million turnover in their most recent set of financial results, but had an operating loss of more than £9million. With the club’s wage bill rising to £20million, it had left Leeds at the top of their budget and with little room for growth. The proposed sale of equity would improve the financial strength of a club and free up more cash for the transfers desperately needed to transform a team that has been too mediocre for too long. More than the incoming £9million is needed to transform Leeds into play-off certainties for next season, but it is a decent start. Spending around half that sum on centre-back Kyle Bartley would be smart business with which to launch the window.

In other Leeds United news, it can be revealed that Andrea Radrizzani is ready to end the careers of 13 senior players at the club in a jawdropping cull.

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