Leeds United lose £62m: Accounts for 2019-20 show big loss

Kacper Wilkins
Kacper Wilkins
2 Min Read

What are the key figures from the accounts?

Leeds posted an overall loss of £62 million during the campaign, with total administration costs for the club running to a huge £108 million.

The wage bill was £78 million, while they handed out £20 million in promotion bonuses.

Turnover at Elland Road did leap to £54 million, from £48 million the year prior. This was projected to hit £56 million before the impact of the COVID-19 pandemic.

Elsewhere, the accounts confirmed the £23 million investment from 49ers Enterprises, which is the investment arm of the San Francisco 49ers.

Leeds also took out £43 million in loan funding after the end of the accounting period.

Also of note was their increased commercial revenue, which was boosted by £15 million of merchandise sales.

There was also a rebate of £7 million paid out to broadcasters.

What has been said?

Leeds managing director Angus Kinnear said: “Despite the unprecedented operational and financial challenges posed by the Covid-19 pandemic, the group won the EFL Championship by 10 points whilst successfully maintaining the group’s financial integrity with record commercial growth.”

Kinnear added: “The primary risk facing the group remains the divisional status of the club’s first team due to the impact on key revenue streams, however we remain confident we have built a commercial model to fund a technical set-up which can ensure Premier League retention.”

What is the state of play at Leeds?

Leeds have impressed in their first season back in the Premier League.

On Saturday, they beat Sheffield United 2-1 to move into the top half of the table.

(Photo: Laurence Griffiths/PA Images via Getty Images)

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