Leeds United: Phil Hay hints at Elland Road fire sale in new PSR verdict after what he heard
Phil Hay has suggested a fire sale could be on the cards at Leeds United if they fail to gain promotion this season amid questions over profit and sustainability.
The Athletic journalist explained that the sales of both Kalvin Phillips and Raphinha are what kept Leeds out of trouble in the last financial accounts, while Sinisterra’s exit was sealed early for the same reasons.
Now, though, he has shared that nobody is trying to hide the fact that if they fail to gain promotion this season, players will have to be sold to raise money.
Speaking to The Square Ball podcast [12 April], Hay explained: “The overall loss was £33million but I think the key takeaway from the main figures was the fact the administrative expenses at Leeds had gone up drastically and so had the overall operating loss to £105million.
“The reason that the overall loss came in at £33million was due to player sales with Kalvin Phillips and with Raphinha.
“It means as well, and I’ve spoken to them about this, they say that they are compliant with PSR in the Premier League but also compliant with PSR in the Championship.
“They’ve sold Tyler Adams and Sinisteraa this year, I don’t think there’s much doubt that the Sinisterra deal was done in February to make sure that they are compliant with PSR. Nobody is trying to hide that if they don’t go up this season, they are going to have to sell players.
“They’re going to have to generate money through the transfer market to make sure they remain compliant. Promotion would be advantageous, to say the least.”
Fire sale on cards at Leeds United in new PSR verdict
Despite points deductions handed to Everton and Nottingham Forest, Kieran Maguire reassured that Leeds would not be in breach of profit and sustainability rules thanks to those player sales.
Hay, though, explained that while the club is fine for now thanks to previous sales, promotion to the Premier League remains crucial financially if Leeds with to avoid further problems emerging due to PSR breaches.
The need to sell players has been apparent at Elland Road since the documents were officially released with previous sales keeping Leeds save from PSR charges, but failure to gain promotion would put the club in and even worse situation.
Alan Brazil mentioned Leeds in an outburst about PSR live on talkSPORT as he labelled the rules “an absolute joke” amid plenty of uncertainty surrounding clubs in the Premier League and the Championship this season.
In other Leeds United news, the club want to sign Che Adams from Southampton.
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