By Dan Plumley

13th Sep, 2022 | 4:10pm

Dan Plumley reacts as Andrea Radrizzani-shareholder loan helps Leeds United profits

We’re delighted to welcome football finance expert Dr Daniel Plumley as our exclusive columnist. Each week he’ll be giving his views on the biggest talking points at Leeds United...

Dan Plumley has shared that Leeds United did a very good job to post profits in their latest published accounts, no matter how it was done.

Phil Hay has reported that £21.3million of the £25million profits posted were in fact waived shareholder loans likely owed to Andrea Radrizzani, with the repayment window already passing.

The Finance Expert, Plumley, admitted that even with the £21.3million taken off the accounts, it was still a very positive set of accounts, especially during the industry struggle.

“You have to look at the headline figure and then take that into account,” he exclusively told MOT Leeds News.

“It means a relatively small profit rather than the profit what we saw, but still given the industry situation at the time during the pandemic, any clubs that even break even, you would put in the very well done category.

“I don’t think it puts too much of a dampener on the overall picture and I think again, that’s actually very good by the shareholders and the owner because it makes the balance sheet of Leeds United look better and then it becomes more of an accounting thing rather than a cash flow issue.

“Of course, you have to take it off the numbers, but where Leeds are at, that was still a positive set of accounts.”

Not many clubs have been able to post profits.

Especially with the COVID-19 pandemic, Leeds have worked their magic in this one with Radrizzani needing to take a lot of credit after taking the club back to the Premier League.

This is all well and good, but it needs to be made a regular occurrence given the lack of spending last season, and the positive outlay in this latest transfer window.

In other Leeds United news, the Whites have said see you again to one attacker after being left baffled by a deadline day agreement