Revealed: Leeds set for £45m+ announcement in weeks
Leeds United are set to announce in their next set of financial results that revenue has climbed to nearly £50million, Football Insider understands.
United’s last annual report showed their turnover rose from £34m to £40.8m during Andrea Radrizzani’s first year at the club and it further swelled in 2018-19.
A Leeds source has told Football Insider that figures are set to be released in the coming weeks that show revenues of above £45m for the latest accounting period.
However, there is likely to be an even higher loss than last year’s £4.3m deficit following the huge investment in Marcelo Bielsa and his coaching staff in the summer of 2018.
The Championship promotion hopefuls have nevertheless seen marked growth over the last four years, mainly due to increased commercial revenue, higher crowds and gate receipts.
That has been offset by an increased wage bill – it was worth £31m in 2017-18 – with deals of around £40,000-a-week handed to top earners Kiko Casilla and Patrick Bamford.
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Radrizzani owns around 88 per cent of Leeds and is committed to overseeing the team’s return to the Premier League.
However, that is in major doubt after a dreadful run of four defeats from five league matches ahead of tonight’s clash at Brentford left a major dent in United’s automatic promotion hopes.
Radrizzani bought Leeds in 2017, initially acquiring a 50 per cent stake before fully buying out Massimo Cellino in May of that year.
He reduced his 100 per cent holding in 2018 when 49ers Enterprises, the investment branch of the San Francisco 49ers, bought £11 million worth of shares, thought to be around 12 per cent of the club.
In other Leeds United news, ‘His body language is terrible’ – Whelan claims Leeds stars ‘fearful’ of one teammate.