Kieran Maguire: Leeds delighted to land windfall after £10m deal agreed
The Premier League’s new £10million-a-season deal with Castrol will be “very welcome” news at Leeds United.
That is the view of finance expert Kieran Maguire, speaking exclusively to Football Insider after the deal was confirmed on 24 November.
SportBusiness reported that the global partnership is worth approximately £10m per season and will commence in January next year.
The oil company will sponsor the Premier League Golden Awards programme and embark on a number of new collaborative ventures.
Leeds trousered £34million in commercial income for the 2020-21 campaign, which was their first in the top-flight since 2004.
That figure is expected to rise when the club releases its next set of annual accounts in April next year.
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Maguire reveals that Leeds will receive a small mid-season boost from the Premier League’s new deal.
“It’s £500,000 per club,” he told Football Insider correspondent Adam Williams.
“You’d rather have it than not have it. It’s always a case of every little helps in a post-Covid world.
“Leeds’ wage bill will have been a lot higher than last season. It’s their second season in the Premier League and they have recruited over the summer.
“Players have also been afforded new contracts. Therefore, everything that counts towards that will be very welcome at Leeds.“
Leeds finished 9th in the final Premier League standings last term.
They have failed to hit those heights in the current campaign, however, and are currently 17th after 12 matches.