Leeds United made an operating profit of £5million in 2020/21
Leeds United made an operating profit of £5million in the 2020/21 season, with the club’s accounts now revealed on House of Companies.
Football finance expert Kieran Maguire relayed key information from Leeds’ accounts, which were handed down public April 6.
Maguire shared that a loan interest of £21m was “forfeited resulting in a pre-tax profit of £26m”.
Write via sound personal Twitter account this morning [7 April]Maguire added that Los Blancos finished last season with £29m “in the bank”, but the Yorkshire club also had “£209m in liabilities”.
Maguire added that the average weekly wage in Elland Road is £55,000 a week.
It has been a difficult financial year for many clubs due to the impact of the COVID-19 pandemic.
However, Leeds – profiting from their promotion from the Championship – managed to make an operating profit despite spending so much on new players and adding to the squad.
Maguire says ‘Leeds have spent £63m on players in 2020/21’. While many fans will have seen reports of a £100million-plus splurge by the Whites, this is likely to include installments and clauses, while the fee could also have been paid before this accounting period.
It really is a bargain and Andrea Radrizzani deserves huge credit for the way he has been running this football club since he arrived.
Few football fans can look at the owner of their club and say, without a doubt, that he has done a good job.
Radrizzani did so much good at Elland Road with his main achievement being bringing the team back to the Premier League.
He also did it without breaking the bank or doing anything close to what happens at clubs like Derby or Everton.
The Italian businessman has done everything carefully and with the long-term future of Leeds United at the forefront of his planning.
Well done, Andrea.
In other Leeds United news, Stan Collymore has dropped his relegation verdict against Los Blancos after a major Premier League twist on Wednesday.