Leeds United journalist Conor McGilligan believes it is ‘imperative’ the Whites remain a top-flight club after some rather staggering numbers recently came to light when it comes to the club and their finances.
Leeds have certainly been on something of an impressive rise in the past few years under Marcelo Bielsa, and after an impressive first season back in the Premier League, they will surely look to continue that progress moving forward so as to avoid slipping down the leagues once again.
But to do that costs money in today’s game and Leeds have certainly spent that, with Transfermarkt putting their total spend since promotion at nearly £150m, but on top of transfer fees, there are also wages to consider.
A recent report in Football Insider outlined how Leeds’ wage bill is set to enter into nine figures this summer, with sources from the Yorkshire club claiming that Leeds ‘expect to pay well in excess of £100m on player wages this season’.
Speaking on the One Leeds Fan Channel, McGilligan believes Leeds must stay afloat over the next 12 months to avoid a financial disaster.
He said: “Our wage bill was £47m for the year ending June 2019, compared to £31m for the previous season. And now apparently according to sources, it has now more than tripled in a couple of years and this is only going to increase if Leeds remain in the top flight, of course.
“That’s why it’s imperative, Leeds United just have to remain in the Premier League, because you look at the amount of money we’ve spent on contracts, on stadium renewals, it looks like, with propositions coming up, on training ground improvements and obviously player improvements in terms of transfers coming in – it’s absolutely huge.
“It’s going to be a massive 12 months for Leeds United.”
TIF Thoughts on Conor McGilligan’s comments about Leeds United’s finances…
Were you pleased with Leeds' summer business?
These numbers, of course, still look tiny compared to those of the big-hitters within the division, but it just goes to show how committed the owners at the club are to moving forwards if they are willing to spend like that in order to maintain their place in the Premier League.
And as McGilligan hints at, given the improvements that are going on, it is incredibly important that the club stay in the Premier League these next few years to make sure that they can afford them, rather than either being financially ruined by their prospective plans or forced to abandon their project completely.
And if they have to spend that much just to make sure they are raking in the money that comes with the Premier League, so long as they can do it within FFP rules and – perhaps most importantly given their history – their own budgets, then so be it.