Leeds £14m transfer reveal after paperwork finalised
Leeds United owe £14million in transfer fees to other clubs, according to the club’s newly-published accounts.
The Yorkshire giants are obliged to pay back instalments for signings completed before June 30 2019.
Analysis from Football Insider has learned that the sum includes £7.7m of transfer payments that must be paid by United by the end of June.
The remaining £6.1m of transfer fee instalments are not due until after the first deadline in two months’ time.
No information is divulged in the accounts as to which deals these payments are for, but one of them is likely to be a significant portion of the £7m sum agreed with Middlesbrough for Patrick Bamford in the summer of 2018.
The other headline recruit in that window was Barry Douglas, who arrived from Wolves for £3m.
It is very common for major transfer fees to be paid in instalments rather than in one lump sum.
Finalisation of the paperwork for the latest accounts make clear that Leeds are themselves were owed nearly £17m from other clubs for transfer fees at 30 June 2019.
They are also taking legal advice over a £2m unpaid bill and “expect the debt to be recovered”.
The Championship giants posted a mixed set of financial results that recorded a pre-tax loss of £21.4m for last season even though turnover climbed to £48.9m.
The expensive hire of Marcelo Bielsa coincided with Leeds’ wage bill rocketing from from £31.3m to £46.1m.
United finished third in last season’s Championship and were defeated in the play-offs by Derby County at the semi-final stage.
In other Leeds United, a huge update on the future of Gaetano Berardi can be REVEALED.