Leeds United set to bank £140m next season on Premier League return

AS they look to add quality to their squad for a first Premier League season since 2003-04, Leeds United can probably budget to receive around three times as much money as when they were last in the top flight.

Even were they to finish bottom, financial expert Chris Winn estimates promotion should leave the Whites £165m better off over the next three years, banking £140m in 2020-21.

It shows the importance of promotion after a season when revenues were badly hit by coronavirus.

“In 2020-21 it’s quite likely Leeds’s revenue will be at least £140m, almost three times the figure they received when they were last in the Premier League,” said Winn, programme leader at the University Campus of Football Business.

“If you look back at their accounts for 2003-04 they actually had higher matchday and commercial revenue as a Championship team in 2018-19 (the last year figures are available for). Their total revenue is only about £3.5m shy.”

Some of Leeds’s transfer budget has already been accounted for, with £16m to make Helder Costa’s loan permanent and £20m due to RB Leipzig to do likewise for Jean-Kevin Augustin, although they are thought to be looking at the fine print after the centreforward’s negligible impact since arriving in January.

In light of that, they want at least one other striker to compete with Patrick Bamford. Liam Cooper is the only senior central defender, and they look light at left-back and in goal if Kiko Casilla moves on. The resumption also showed a high dependence on 35-year-old midfielder Pablo Hernandez.

That said, coach Marcelo Bielsa places a high premium on stability and Leeds will try to secure Jack Harrison on a third consecutive loan from Manchester City and add youthful depth by signing Wigan Athletic’s £1m-rated 18-yearold striker Joe Gelhardt and promoting academy products.

The huge broadcast deals and parachute payments for relegated clubs ensure even a season of failure in the Premier League can be lucrative.

“In a worst-case scenario of finishing 20th, you’re probably looking at Leeds being a minimum £165m better off,” said Winn. “If they were to finish 17th, have a second season and then finish 20th, the net income would likely come in at £275m.

“There are a lot of caveats. It very much revolves around the timing of broadcast rebates and whether or not stadia will be fully or partially open.”