Angus Kinnear informs Leeds United staff of redundancy decision in Wednesday meeting – Phil Hay
Leeds United chief executive Angus Kinnear has informed Elland Road staff that they will avoid redundancies and wage reductions after the club’s relegation, according to Phil Hay.
The Whites sealed their Premier League relegation fate on Sunday [28 May] after another disappointing 4-1 defeat to Tottenham Hotspur at Elland Road, meaning they’ll be playing Championship football next season.
Relegation will see the playing squad at Leeds incur wage reductions [The Athletic] of up to 60 per cent and could inevitably lead to a spate of key departures over the summer window, and there were fears club staff could also undergo major redundancies after relegation to the Championship.
However, according to Hay, writing for The Athletic [30 May], CEO Kinnear has assured staff that they will avoid any redundancies or wage deductions despite the club’s plight.
“Leeds United’s general staff have been told that they will avoid redundancies and wage reductions, despite the club’s relegation from the Premier League.
“In a meeting with chief executive Angus Kinnear today, employees at Elland Road were given reassurances over their positions amid major uncertainty about Leeds’ ownership situation and future plans.”
Thankful
Relegation would be disastrous for any side, especially in the financial sense considering the amount of money they would lose when not being involved in Premier League TV deals and also from the club’s commercial matters.
However, despite Leeds United’s sorry plight and fall from grace, the club should be more than okay financially which is now certainly shown through Kinnear’s decision at Elland Road.
A report emerged on Sunday [28 May] that the Whites were predicted to accumulate over £100m cash windfall from Premier League central funds prize cash this season, which was determined by the overseas TV deals and their position in the league.
There are also the parachute payments given to any Premier League side which means the Whites are well positioned financially, especially with an impending takeover from the 49ers Enterprises on the horizon.
More crucially, there is the small matter of losing key individuals this summer and that could well give Leeds United the funds to stem the tide as well as rebuild ahead of a swift promotion back to the Premier League for the 2024/25 campaign, but how they’ll look to achieve that rebuild is another matter entirely.
It is a huge summer ahead for the West Yorkshire outfit.
In other Leeds news, Pascal Struijk only signed a new deal in December but that will reportedly not deter Premier League suitors.