JUMP LEEDS
Securing a spot in the Premier League for the 2021/22 campaign might have just been the helping hand Leeds needed to keep their finances afloat.
Despite the White’s having an impressive return to top flight football on the field, off the field they are facing financial trouble.
It has been revealed by the club’s newly published accounts that Leeds will have to pay a whopping £35.3 million bill in bonuses at the end of the season.
Club owner Andrea Radrizzani permitted a major investment in players and management staff which increased the wage bill from £46m to £78m resulting in the bonus outgoings going up by £15.6m from last year’s total of £19.9m.
Even though the clubs turnover climbed to £54.2m, the Championship winner’s financial results posted during the Easter weekend displayed a pre-tax loss of £62.4m for the year ending in July 2020.
However, the investment seems to have paid off because another year in the Premier League grants Leeds a minimum of £100m in broadcasting windfalls which will potentially make them big commercially alongside an increase in merchandise sales.
So I guess what they say is true ‘no risk, no reward’.
