Leeds United transfer news: 49ers provide funds amid ‘money to spend’ verdict
The 49ers investors have “provided the funds” for Leeds United in the transfer market but profit and sustainability considerations are tempering what can be spent, according to Beren Cross.
The Leeds Live reporter said in his Q&A on the outlet’s website (15 August) that “it’s not a case of selling before buying” for the Whites before the window shuts and “there is money to spend”, but without transfer fees being brought in the club have to watch their losses, although a big-money sale on Willy Gnonto could free things up.
Daniel Farke thought he had a deal to bring former Norwich City favourite Max Aarons to the club for up to £12million before the move was hijacked by Bournemouth last week, while Tyler Adams and Luis Sinisterra could yet leave, but the club are insisting on not letting Gnonto go in the face of bids from Everton.
Cross said in one answer: “There is money to spend, as last week’s Aarons farrago showed. United’s investors have provided the funds needed, but it’s a case of now keeping an eye on profit and sustainability rules. Leeds will spend what they can without risking a sanction from EFL down the line for exceeding the losses allowed over a three-year period.
“Now, that situation will be helped if Leeds sell a player or players for eight-figure sums between now and September 1. Adams and Sinisterra have relegation release clauses and are unlikely to generate the profit needed to make a big impact on spending, but Gnonto, without a clause, under contract and bought for pennies, could drive a substantial boost in spending power if he were sold in excess of £20m.”
In another he added: “There is a restriction on spending in that Leeds cannot go out and spend all of the money their investors have put in as they may want to. It’s not a case of selling before buying, as shown in the Aarons situation of last week.”
Balancing act
There isn’t much for Leeds United fans to find encouragement in with regards to the transfer window right now, with all it’s currently proving good for is more key men heading for the exit.
But, while the need for Aarons didn’t seem as great as reinforcements in other positions, the fact that Farke was within touching distance of being reunited with the former Canary shows there is some scope for deals to be done.
One silver lining from the likes of Gnonto or Adams leaving permanently would be that the manager, and Nick Hammond and Gretar Steinsson, should be better equipped to make signings.
Clearly time is running out either way, but the situation wouldn’t seem quite so desperate if so many players weren’t also out injured.
Whites supporters might reasonably point out that Leeds always have an injury crisis on their hands so having adequate cover is a necessity.
It seems likely that the noise around potential exits is masking activity behind the scenes regarding additions, and Premier League loans like Joe Rodon’s may become more possible the closer the deadline is.
But whatever action is being taken there looks like a lot of work is still needed without a huge amount of time to do it in.
In other Leeds United news, the Whites are lining up a late bid for a new striker after watching him in action at the weekend.