Revealed: Leeds hit with huge £25m bill they must settle instantly
Leeds United have to fork out a massive £25million in promotion bonuses now they have ended their 16-year absence from the Premier League.
According to the club’s annual accounts, the Yorkshire giants must settle the mammoth bill due to the performance-related contracts they have agreed with their players and rival clubs.
Leeds’ place in the top flight for next season was confirmed by West Brom’s 2-1 defeat at Huddersfield Town on Friday.
The Championship big hitters will benefit to the tune of around £170m from Premier League promotion over the coming seasons.
This is due to broadcasting windfalls, including from parachute payments after relegations.
But the instant cost of going up is the transfer add-ons and the bonuses loaded into the contracts of their players and coaching staff.
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Leeds must pay £19.9m in bonuses to players and the coaches (up from £18.1m last year) as well as a further £5.3m of transfer top-up payments.
Owner Andrea Radrizzani set out a plan to handsomely reward the key figures at the club when he took over as owner in 2017, especially if they reach the holy grail of the Premier League.
This is evident with the increase in United’s wage bill from from £31m to £46.1million as well as expenditure on major improvement works at the club’s Thorp Arch training headquarters.
In other Leeds United news, it can be REVEALED that a £5million bid has been accepted for £5m Elland Road target.
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