Craig Scott

Thu 7 April 2022 7:10, UK

Leeds United made an operating profit of £5million in the 2020/21 season, with the club’s accounts now being revealed on Companies House.

Football finance expert Kieran Maguire relayed the key information in Leeds’ accounts, which were made public on 6 April.

Maguire has shared that a loan interest of £21million was “waived resulting in profit before tax of £26million”.

Writing via his personal Twitter account this morning [7 April], Maguire added that the Whites finished last season with £29million “in the bank” but the Yorkshire club also has “£209million of liabilities”.

Maguire added that the average weekly wage at Elland Road is £55,000-a-week.

Good news

It was a tough financial year for a lot of clubs due to the impact of the COVID-19 pandemic.

However, Leeds – riding high on their promotion from the Championship – managed to make an operating profit despite spending so much on new players and adding to the squad.

Maguire says that “Leeds spent £63m cash on players in 2020/21”. While many fans will have seen reports of a £100million-plus splurge by the Whites, that is likely to include instalments and clauses while fees could have also been paid prior to this accounting period.

It’s really good business and Andrea Radrizzani deserves massive credit for the way he’s run this football club since his arrival.

Not many football fans can look at their club’s owner and say, without doubt, that he’s done a good job.

Radrizzani has done so much good at Elland Road with his main success being taking the team back to the Premier League.

He’s also done that without breaking the bank or doing anything near what’s happening at clubs like Derby or Everton.

The Italian businessman has done everything carefully and with the long-term future of Leeds United at the forefront of his planning.

Well done, Andrea.

In other Leeds United news, Stan Collymore has dropped his relegation verdict on the Whites after a major twist in the Premier League on Wednesday.