Revealed: Promotion to cost Leeds £25m
By Wayne Veysey
The cost of promotion to the Premier League for Leeds United will be a mammoth £25million, according to the club.
In their yearly financial results, the Championship’s second-placed side 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 £18.1million in bonuses to players and the coaches as well as a further £7.1million of transfer top-up payments.
Nevertheless, the difficulties of making money in England’s second tier are made clear in the latest accounts, which cover Andrea Radrizzani’s first year as owner of the club.
Leeds posted a loss of £4.3million despite a substantial rise in turnover from £34million to £40million.
This was due to investment in players, increases in United’s wage bill from from £20million to £31million and expenditure on the club’s scouting network.
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