Hopefully it won't come to that lufc
Leeds United are in a strong enough position to be able to cope should they be relegated from the Premier League this season. That’s according to an Angus Kinnear-written report included in the club’s latest accounts, which were released on Sunday morning, prior to the club’s 5-1 drubbing against Crystal Palace at Elland Road.
However, the numbers posted last season appear to give the board confidence regarding the club’s long-term standing and future in the top flight. Leeds recorded a turnover of £189m during their second season back in the Premier League and that’s a rise of £18m from the previous year, with growths in merchandise sales, commercial revenue streams and ticket sales being credited.
The accounts also show an operating loss of £34m, with total losses over the year amounting to £151m, while it has been revealed Leeds paid £15.5m to settle their Jean-Kevin Augustin transfer dispute and £3.5m to part ways with Marcelo Bielsa following his dismissal in February 2022. Such figures give an accurate representation of the club’s financial footing and Kinnear believes United would be able to handle a temporary setback.
Kinnear’s strategic report reads: “The group saw an increase in turnover from £171m to £189m despite a £14.9m reduction in central distributions reflecting a 17th place finishing place at the conclusion of the 2021-22 season versus 9th place in the prior season. Merchandise sales were the key area of success growing by 23.6% from £20.3m to £25.1m. Other commercial revenue stream comprising mainly sponsorship, advertising and other events increased by 25.9% to £18.
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