Leeds United negotiated a loan worth £43million after winning promotion to the Premier League last season, according to The Athletic’s Phil Hay.
The former Yorkshire Evening Post journalist reports that Leeds likely took the loan out through the “forward funding schemes” that other Premier League clubs have used.
It is understood the loan was taken out knowing that the club would be able to pay it off once they receive TV income for promotion to the Premier League.
Hay adds that the “first tranche of broadcast income had landed, with more to come”.
Money, money, money
While on the surface, seeing a club take out a loan suggests that all is now well with their finances but in this case, that couldn’t be further from the truth.
Leeds were guaranteed Premier League broadcast money so there was no harm in taking out a loan for money they knew they would receive at a later date.
After taking out that loan, it ensured that the Yorkshire club was able to strengthen the team to one that is strong enough for the Premier League.
Spain internationals Rodrigo and Diego Llorente arrived at Elland Road with the former coming in for a club-record fee. Germany’s Robin Koch and Brazilian sensation Raphinha were also added to the squad as well as Illan Meslier and Helder Costa’s loan deals being made permanent.
We’re not too far from the end of Leeds’ first season back in the Premier League and with the club sitting 11th with 42 points, it’s fair to say it’s been a massive success.
That loan will no doubt be repaid soon enough and even more money will come in with a second season in the top-flight all but assured.
In other Leeds United news, the Whites have been mooted as a possible new club for this stand-out Premier League performer this season.