Revealed: Leeds facing mammoth £25m transfer & bonuses bill
The instant cost of promotion to the Premier League for Leeds United will be a massive £25million, according to the club’s newly-published accounts.
The Championship leaders posted a mixed set of financial results yesterday that announced a pre-tax loss of £21.4m for the year ending June 2019 even though turnover climbed to £48.9m.
In their yearly financial results, United outline the huge bill they will be hit with if they secure one of the three promotion places.
The accounts detail that transfer add-ons and the bonuses loaded into the contracts of their players and coaching staff will mean massive pay-outs for the club.
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.
The value of promotion is at least £170m in broadcasting windfalls, including from parachute payments after relegation.
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Nevertheless, the difficulties of making ends meet in England’s second tier are made resoundingly clear in the latest accounts, which cover Andrea Radrizzani’s second year as owner of the club.
This was due to investment in players, increases 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.
Marcelo Bielsa’s side are well placed to clinch a top-two finish and secure automatic promotion when the season resumes after the suspension that has least nearly a month.
They are top of the Championship and seven points ahead of third-placed Fulham with nine matches of the campaign remaining.
In other Leeds United news, it can be REVEALED that the club face losing rising star who’s blown senior teammates away.