Leeds United posts £34m loss for last season
Leeds United made overall losses of £34m in the year ending in June 2023 – despite £73m fees from selling players. It made losses of £38m the previous year.
The team’s revenues were marginally higher than the previous year, posting a new record of £189.7m compared to £189.2m – but administrative expenses soared from £204m to £275m. The club was relegated to the Championship at the end of the season.
In full-year accounts submitted yesterday, the board said it was well positioned to survive a temporary stay in the Championship thanks to prudent financial management and a squad with depth and youth. The team are currently placed third in the Championship, a point behind Leicester and Ipswich.
Ticket revenues rose by £5m to £30m, but were largely offset by a £2.4m fall in TV and broadcasting income and a £1m fall in merchandising revenue.
The club’s cash reserve declined by £3m, from £4.6m in July 2022 to £1.6m in June 2023. At the same time its financial liabilities increased from £95m to £129m due to transfer fee creditors.
Wages and salaries rose from £107m to £129m. The club increased its roster of full-time playing staff from 53 to 58, and increased its team management from 37 to 44 people. It also increased its management numbers and casual match-day roster.
