Triple financial revelation paints Leeds United relegation in worse light | OneFootball

Leeds United’s financial accounts for the 2022-23 season have been revealed.

According to The Athletic, the Whites have reported a loss of £33.7 million for the previous campaign.

The Yorkshire outfit was relegated from the top flight in their third term in the division, suffering a 19th place finish.

Despite heavy spending to try and improve Jesse Marsch’s squad in the summer of 2022, the club went backwards after finishing 17th in the previous season.

Looking at the numbers behind their drop into the Championship, there are three key figures that stand out.

Kieran Maguire highlights key Leeds United financial issues

Football finance expert Kieran Maguire has highlighted Leeds’ wage bill, player purchases and the overall expense of assembling their squad as three key figures that we can take away from their accounts for last season.

19 of the 20 Premier League teams from last year have now released their finances for that term, meaning we can compare how they stack up against each other.

Twitter how Leeds rank against the top flight sides they competed against.

The Whites had the 11th highest wage bill in the entire division, paying £146 million to their players over the course of the term.

Leeds spent the fourth most on player purchases of any side in the Premier League last year, buying a total of £170 million in new signings, which included arrivals such as Brenden Aaronson, Georginio Rutter, and Tyler Adams, among others.

Only Chelsea (£744 million), Arsenal (£251 million) and West Ham (£184 million) spent more.

Meanwhile, the overall expense of assembling their squad for last year amounted to £382 million, which ranked 10th highest in the Premier League.

Given these figures, their 19th-place finish highlights just how far below expectations the team performed in their relegation to the Championship.

Leeds United’s profit and sustainability position

However, despite the heavy spending, Maguire has clarified that there shouldn't be issues for the club when it comes to the league’s profit and sustainability rules (PSR).

Promotion rivals Leicester City find themselves facing a potential points deduction penalty if found guilty of breaching PSR.

The Foxes have been charged with an alleged breach, but no official verdict has yet been given.

Everton and Nottingham Forest have both been handed points penalties this season for breaking the rules, which could play a role in their relegation to the Championship.

Leeds are hoping to secure a place back in the top flight this year, but currently sit third in the second division table.

Leeds' finances don’t make for good reading

While Leeds don’t have an unhealthy financial situation, at least compared to some other clubs in English football, these accounts of last year’s books don’t make for pretty reading.

Supporters will be frustrated to see the team perform so poorly relative to the amount they were spending against the rest of the competition.

A huge amount of resources have been wasted, which could have serious long-term negative consequences for the team’s competitiveness.

The Whites have a poor history when it comes to their financial situation, so this is something fans will be keen to see the new owners manage better going forward.