By David Woods

8th Apr, 2020 | 7:11am

Financial expert details huge Leeds losses under Radrizzani and extra £20m payouts if promoted

The Leeds United accounts have been made public for the 18/19 season and financial expert Kieran Maguire has detailed the major losses that the club has made.

He said that “despite record revenues for an EFL club not in receipt of parachute payments” Leeds lost £36m in the 18/19 year, a figure which was helped down to an annual loss of £21.4m by player sales (£15m from Ronaldo Vieira and Jack Clarke).

He went on to say that historic losses through the years are now at a total of £58m and that losses are being underpinned by £12m of borrowing “mainly from the owners”.

Radrizzani has said in an interview in the Times that the wages at Leeds were too high for the Championship and it’s now revealed that the club pays out £96 in wages for every £100 in income.

Leeds also paid £2.2m in rent for Elland Road in the 18/19 season, which compares to the £3m Wes Ham paid for the London Stadium.

One other interesting detail is that Leeds might have to pay £20m in bonuses if promoted to the Premier League.

Our view

Leeds have lost more than we were expecting – in fact the losses are shocking for a club that’s fairly conservatively run compared to others in the Championship.

We don’t think these accounts detail a club run badly, though, but rather one that’s run responsibility with a realistic aim of getting in the Premier League.

If there’s one thing the Coronavirus outbreak has taught us about football, it’s that it’s not sustainable at current levels.

Radrizzani has talked about how the wage bill at Leeds is too high for the Championship and this puts the meat on those bones.

Many Leeds fans have criticised Radrizzani for not putting his hand in his pocket and buying more players. This shows why it’s been almost impossible – irrespective of profit & sustainability.

It also shows why promotion this year is not just a luxury but a must for the club.

In other Leeds United news, ‘Bang on’ – Darren Gough delivers verdict as major statement on Leeds 19/20 season drops