Leeds United sent Reading financial warning after ’emergency meeting’ held in London
Don Goodman has warned Leeds United and all other Championship clubs to wisely spend any financial windfall that comes their way.
As reported by the Liverpool Echo [21 February], Premier League clubs met at an “emergency meeting” in London at the end of last month.
The gathering was arranged to sort a reported £900million package that is to be spread out to EFL clubs over the next six years.
Leeds will hope to be in the Premier League before the end of this year, but if not they will be in line for a share of the money being passed down.
If that is the case, Goodman says Leeds must avoid going down the same path as Reading and others if they intend to spend it on new players.
“Clubs have been chasing the Premier League dream for the best part of 20 years and overspending,” Goodman told MOT Leeds News.
“That is not going to change. Owners see the promised land that is the Premier League and spend unwisely.
“It has ultimately cost the likes of Sheffield Wednesday and Reading, to name just a couple – they are perfect examples of that.
“You look at where those clubs are now, and neither truly got close to the Premier League despite that recruitment. It comes down to recruitment. You stand and fall by it.
“If you recruit well, you’ll achieve your objectives, or at least come close to doing so, whether that is survival, consolidation or in more cases attempting to get to the Premier League.
“It’s about spending your money wisely and not breaking the bank. It’s not always about who spends the most money – just look at Chelsea as an exaggerated example. It’s not about how much you spend but how wisely you spend it.”
Leeds United must be smart with summer transfer business
Leeds are well positioned to achieve their aim of an instant return to the Premier League this season as they sit second in the table.
However, a failure to go up – whether that is automatically or via the play-offs – will lead to the financial situation coming under the spotlight.
The Whites basically have a Premier League squad and a number of players are no doubt still on Premier League wages.
It goes without saying that cannot continue, and the the longer they remain out of the top flight then the worse the situation becomes.
United will have to be incredibly smart with their transfer business in the summer if they remain a Championship club.
Some players will no doubt be sold to help ensure the books remain balanced, while cheaper alternatives may have to be sought.
Let’s just hope this is not a problem Leeds have to deal with, though, as automatic promotion is now back in the club’s hands.
In other Leeds United news, Daniel Farke was at risk of overstating things with something he said regarding a first-team regular.
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