Leeds United have stated that they were in compliance with financial regulations in the top two tiers, despite revealing a loss of over £30 million in their latest accounts, as reported by Phil Hay. The club’s financial figures for the 2022/23 season showed a loss of £33.7m in addition to a £36m loss the year before, despite a record turnover of £189.6m and player transfers totaling £73m. The increase in administrative costs and wages led to the operating loss rising by £71m, with nearly £10m spent on severance packages for managers after being relegated from the Premier League.
Despite concerns over financial stability following Leicester City’s recent troubles, Leeds United have maintained that they are within the permitted loss limits set by both the Premier League and the Championship. The club’s recent takeover by the 49ers, with approval from the EFL and Premier League, indicates that all parties were aware of the financial situation at Elland Road. This should alleviate fears of a situation similar to Leicester’s for now, as the club continues to navigate financial challenges to ensure compliance with regulations.
