Exclusive: Player secures whopping Leeds pay rise amid £25m pay-out
Kalvin Phillips has secured a whopping pay rise after Leeds United won Premier League promotion, Football Insider understands.
The United academy product signed a new contract last September that included a clause guaranteeing a significant hike in his wages if the team went up.
Automatic promotion was secured last month after Leeds cantered to the Championship title and Phillips is among those who will immediately financially benefit.
In addition to his salary increase, the midfielder has also been handed an individual promotion bonus in line with the club’s performance-related player contracts.
United’s top earners in 2019-20 were goalkeeper Kiko Casilla and striker Patrick Bamford, both earning around £40,000-a-week.
According to the club’s annual accounts, the Yorkshire giants have to fork out £25million in promotion bonuses now they have ended their 16-year absence from the Premier League.
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The mammoth bill is due to the performance-related contracts they have agreed with their own players as well as rival clubs.
Leeds will not be guaranteed £170m from Premier League promotion as has been the case in previous years.
The Premier League will take £10m off the top-flight clubs in the new season and hand out to the overseas TV companies.
Furthermore, Leeds estimate they will lose in excess £10m from gate receipts through having no fans at their home matches.
The instant cost of going up is the transfer add-ons and the bonuses loaded into the contracts of their players and coaching staff.
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.