Leeds United fans told the truth about ‘£120m’ cash injection
Leeds United are expected to be busy in the now-open summer transfer window with 49ers Enterprises embarking on their first Premier League season as majority owners of the club.
As such, The Athletic reported on 19 May that the 49ers will issue around £120million of new shares in the club.
That is despite their attention now being divided between Elland Road and Rangers after their recent takeover at Ibrox was completed.
Leeds are returning to the Premier League as second-tier champions after all six previous promoted clubs were relegated at the first time of asking.
Everton’s former chief Keith Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – has suggested where that £120million cash injection could go at Elland Road.
Leeds will pay for transfers and stadium revamp with £120m cash injection, says Wyness
Speaking on the new edition of Football Insider’s Inside Track podcast, Wyness suggested a “chunk” of that figure will indeed be spent on new signings at Leeds – while another portion could be assigned to paying for planned stadium upgrades.
Leeds will return to the Premier League after a two-year absence and have decided to keep manager Daniel Farke in his post despite reported doubts over his ability to lead the side in the top flight.
Wyness claimed the Whites will have to spend a “minimum” of £100million to survive relegation.
He told Football Insider‘s Inside Track podcast: “I think a chunk of it will be going towards transfer business.
“There will also be some major downpayments on a lot of the construction work they have got going on.
“Leeds are going to give it a real go to stay up, but we know how hard it is to get to 17th place.
“They’ve got to break the mould, they’ve done it before.
“But it’s going to be over £100million of transfers before you’re in that position. Ipswich spent that much but couldn’t get over 22 points.
“I think that £100million mark is a minimum spend now, and they’ve got to spend it wisely.
“This cash injection will pay for some new players to give the fans hope.”
Firpo ready to quit Leeds this month
Meanwhile, Football Insider has revealed (2 June) that Junior Firpo is increasingly likely to leave Leeds as a free agent later this month after rejecting a new contract.
AC Milan, Olympique Lyonnais and Spanish sides are all ready to sign the Dominican Republic international on a free transfer.
Firpo, 28, has been made a renewal offer at Leeds but nothing has been agreed – and it is believed he is inching closer to the exit door at Elland Road.
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