Alan Brazil has described an off-field update coming out of Leeds United as “incredible” and questioned how it has managed to happen.
Leeds release 2022/23 financial accounts
On the pitch, the Whites, under Daniel Farke, are pushing for one of two automatic promotion spots in the Championship alongside Leicester City, Ipswich Town and Southampton.
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It promises to be a dramatic run-in, and news recently coming out of Elland Road has highlighted how important promotion back to the Premier League promises to be.
Leeds released their 2022/23 financial accounts, with reporter Joe Donnohue sharing the main takeaways, with the overall loss before tax standing at £33.7m.
Another eye-catching point from the figures is that the club currently owe £190m to clubs in unpaid transfer fees, relating to players Leeds purchased when they were in the Premier League.
TalkSPORT presenter stunned at “incredible” Leeds update
Finance expert Kieran Maguire was speaking to talkSPORT, relayed by MOT Leeds News, regarding the numbers coming out of Elland Road and if Leeds could be in trouble further down the line.
Specifically, in regards to the £190m in unpaid transfer fees, Maguire said former owner Andrea Radrizzani was using ‘the Leeds United credit card’.
“Well, possibly [Leeds could be in trouble], and the reason for that is that, under Jesse Marsch, Leeds spent a fortune on players last season. They bought players for £170m and Leeds fans were saying, ‘Well, that’s great, but we thought the owner was looking for a way out, so where’s he getting the money from?’
“It turns out [former chairman Andrea Radrizzani] has effectively used the Leeds United credit card. So Leeds now owe other clubs £190m in unpaid transfer fees. How are they going to do that in the Championship?”
Presenter Brazil couldn’t believe what he was hearing, saying in response: “That is unbelievable! How has that just come out? That is incredible.”
To make matters worse at Elland Road, it has also emerged that Leeds have withdrawn their appeal against FIFA’s award of £24.5m in compensation to Jean-Kevin Augustin, so you’d expect we’ll be seeing these figures in future accounts.
The figures also show what a good job Leeds, now under new owners the 49rs Enterprises, are doing with the club appearing to be on the right side of PSR at this moment in time.