The US owner of Leeds United football club has promised to spend every “last penny” to try to stay in the Premier League next season, after the club secured promotion back to English football’s top division. Paraag Marathe, chair of Leeds United and president of 49ers Enterprises, the investment arm of the San Francisco 49ers NFL team, said the club would push player spending “to the limits” of what was allowed under the league’s financial regulations. “Whatever they will let us spend, we’ll spend. I can comfortably say that we are going to spend the very last penny that we can,” he told the Financial Times. Under current Premier League rules, designed to rein in unsustainable spending sprees, clubs that lose more than £105mn over a rolling three-year period are punished. Marathe suggested Leeds United would raise tens of millions of pounds from its shareholders — a group including energy drinks company Red Bull and real estate investor Peter Lowy — to fund its spending plans. “It’...