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Big losses at Leeds

Leeds United lost £36 million in 2018/19 despite record revenues for an EFL club not in receipt of parachute payments, reports Kieran Maguire of the PriceofFootball. Player sale profits were down by £15m. Player purchases were £16m and sales £16m.

Leeds may have to pay £20m bonuses if promoted to the Premier League. Reference made in the accounts to ‘a number of legal claims’ against the club which are not quantified.

Leeds were due to repay two loans to their owner in August 2018. After failure to do so interest rate on about £7m of loans increased from 4% to 6% above base rate. Other loans of £17m at 2%. Total interest cost 2018/19 £2m.

Leeds paid over £2.2m in rent (operating leases) in 2018/19, West Ham pay £3m at the London Stadium.

Maguire emphasises, 'They will be fine financial fair play wise. Revenue up substantially in 2019/20, £17m more of player sales and hardly any purchases so figures will look a lot better.'

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