Leeds United’s 2018-19 financial account was published online on Wednesday morning. The losses have jumped from £4 million to £21 million, and the wage bill has increased to £46 million.
On the other hand, their annual turnover in the Championship is set to rise to around £60 million in the 2019-20 results. It leaves Leeds United into a precarious situation where owner Andrea Radrizzani or another potential investor will have to soak the money.
Radrizzani simply cannot finance Leeds in the Championship in the present model. There are no parachute payments to feed on and it’s all down to the flawed system of the English football pyramid.