Leeds United could pay up to £45million in bonuses and future instalments should they remain in the Premier League for the 2023/24 campaign after the Whites released their accounts from across the 2021/22 season.
The club have published their accounts from August 1, 2020 to 30 June, 2021 and August 1, 2021 to 30 June, 2022 respectively that saw the Whites record a turnover of £189m last summer. Despite the high levels of income, Leeds finished in the red with total losses of £151.5m.
Leeds took a financial hit with the settlement of Jean-Kevin Augustin - who only played three games for the Whites - costing them £15.5m. A total of £67m was also paid by the club in 'transfer instalments' (purchases of intangible assets) as matchday revenue rose from £2m to £24m following the lifting of lockdown restrictions that allowed fans back through the turnstiles.
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A 17th place finish for Leeds in the 21/22 season - compared to ninth in the 20/21 campaign - saw their TV money drop from £132m to £115m. The congested nature of the bottom-half of the table showing that every extra point gained for the rest of the season will help balance the books.
The club spent £13m on wages during the same time period with £3.5m also being spent on 'payoffs' following Marcelo Bielsa's sacking. Player additions (signings) totalled £86m with only £1m accounted for in sales; the club is owed £5m in further instalments by other teams.
And should Leeds avoid relegation from the Premier League this term, they could be due to pay further payments of £3m with bonuses to squad members of up to £42m.
Football financial expert Kieran Maguire, who took to social media to pore over the latest figures, commented that Leeds were in "solid enough" shape with "plenty of saleable inventories". He also added that there was nothing especially concerning about the accounts from a Financial Fair Play point of view and that player sales in the summer of 2022 will help the picture somewhat when they are reported in the next set of accounts.
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