Leeds United set for big financial trouble after documents uncovered – sources
Leeds United are set for big financial trouble if they are not promoted this season, sources have told Football Insider.
Speaking on the latest edition of Football Insider’s Inside Track podcast, senior correspondent Pete O’Rourke revealed that there is major concern at Elland Road following the publishing of the latest accounts.
The Whites published their 2022-23 accounts to Companies House on Tuesday (9 April), revealing record revenue of £189million and an overall loss of £33million.
But there is also £190million in unpaid fees that is owed to other clubs, which will become a major concern if promotion isn’t secured, finance expert Kieran Maguire told Football Insider on Sunday (14 April).
Leeds United heading for big trouble if Premier League return is not achieved
O’Rourke believes the latest figures were not great reading for Whites fans, with promotion vital this season due to the losses and indeed another season of lost revenue from the Premier League.
He explained that the Elland Road owners would have been banking on immediately returning to the top flight this season.
That aim was also the decision to hire Daniel Farke as manager, with the German having already clinched promotion twice with Norwich City.
The Whites looked very likely of achieving that goal not so long ago, having been leading the way in the Championship table.
But a poor run of form means they have slipped to third place, one point behind Leicester City in second and two behind leaders Ipswich Town.
In other news, Leeds United will be forced to sell star players after ‘devastating’ financial update
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