Kieran Maguire issues ‘£200m’ Leeds reveal as he hails their incredible fans
Leeds United must become less dependent on broadcast income if they are to bridge the gap between themselves and the likes of Man United.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about Leeds owner Andrea Radrizzani’s recent remarks.
Speaking to Forbes on 21 December, the Italian media mogul claimed Leeds’ revenue had risen from “£36million [in 2016-17] to £200m this year”.
Leeds’ last set of annual results revealed a turnover of just £54m, although that was in a Covid-ravaged year in the Championship.
They are likely to release their next set of accounts late in the first quarter or early in the second quarter of 2022.
Maguire analysed Radrizzani’s revenue claim and suggested Leeds’ next step as they look to climb the Premier League’s greasy pole.
“Revenue is driven through increased broadcast and commercial income,” he told Football Insider‘s Adam Williams.
“The fans stand up and be counted at Leeds. The merchandise sales make them attractive, hence the deal with Adidas.
“The big challenge for Leeds is that they will be very dependent on broadcast income.
“Finishing 9th in their first season in the Premier League will have been beneficial in terms of prize money.
“Their matchday income in 2019 in the Championship was £18m. I’d expect that to increase in the top flight in a season in which everybody can attend.
“But if you benchmark that against, say, Man United, they earn £110m in a full season. How do Leeds go about bridging that particular gap?
“Yes, they have done very well but there is a long way to go if they want to be able to challenge.
“The average revenue of the big six is £450m. So if you’re £250m down, there’s still a way to go.”
Radrizzani has a 56 per cent stake in Leeds, with the remaining equity owned by the San Franciso 49ers’ investment arm.
The East Yorkshire club are currently 16th in the Premier League.
In other news, pundit tips Leeds United for “huge” transfer windfall after “amazing” Kalvin Phillips reveal.