The accounts of Leeds United FC are in chaos according to this report. Income last year was down from £28.6m to £25.3m with reductions in all aspects of income including match day and commercial.
As a result there was a £20.4m loss which becomes £22.8m post tax. This means that the club is very likely to incur a transfer ban under the Football League’s financial fair play rules.
The accounts of Leeds United FC are in chaos according to this report. Income last year was down from £28.6m to £25.3m with reductions in all aspects of income including match day and commercial.
As a result there was a £20.4m loss which becomes £22.8m post tax. This means that the club is very likely to incur a transfer ban under the Football League’s financial fair play rules.
However, this may be the least of their worries. £20.9m is owed to former owners Gulf Finance House (GFH) and £12.2m to new owner Massimo Cellino.
It is possible that GFH may take over temporarily if Cellnio’s appeal against a Football League ban fails. There has also been speculation that casino firm Gentings may be interested in acquiring the club.