EFL want payments scrapped as Leeds United receive £40.1million this season
Leeds United will receive £40.1million in their second parachute payment this season, according to Martyn Ziegler.
The Times’ chief sports writer reported on 12 September that the payments for sides relegated from the Premier League last season have reached record highs of £49.1m, up from £44m last term.
The EFL are said to want parachute payments scrapped, as Labour set to increase the power of the independent regulator, which could oversee the “controversial” scheme.
Leeds United get massive new windfall
Leeds were always going to struggle with finances after missing out on promotion via the playoffs after losing against Southampton.
This saw the Whites miss out on a large payday from moving up to the Premier League through prize money and TV revenue.
As a result, a firesale at Elland Road saw the likes of Archie Gray, Crysencio Summerville, Georginio Rutter and Glen Kamara leave the club.
The blow of missing out at Wembley will have been softened by the parachute payments which will help the club operate in the second tier.
These financial boosts don’t last forever, which makes it all the more imperative that Daniel Farke’s side secure promotion this campaign.
The new season has started in a positive fashion which sees the Whites sit in the Championship top six after just four matches.
This form must be built on to earn promotion before parachute payments dry up, leaving the club in a tough spot financially.
In other Leeds United news, Andrea Radrizzani has sent a message as an Elland Road exit was confirmed.
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