Green shoots of recovery at Leeds

Leeds United have reported a profit of £976,000 in their 2016-7 accounts compared with a loss of £8.8m the previous year. However, to put that into context, a profit of £8.9m came from player sales, in particular the sale of Lewis Cook: Return to profit

Without the profit from player sales, the club would have lost £170,000 a week.

Wages account for £61 of every £100 of turnover which is the second best figure in the Championship.

Turnover was up from £30m to £34m. Average attendances were up by 5,000, leading to a £2m boost in gate receipts.

Having paid £45m for the club, owner Andrea Radrizzani injected £14.5m by way of a shareholder loan.

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The Political Economy of Football V2

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