Phil Hay shares major Leeds finance update with £30m+ behind-the-scenes deal in place
Leeds United are set to loan money from the bank to help cover the cost of their spending in the transfer window, according to The Athletic journalist Phil Hay.
The Whites have spent around £100million on new players since winning promotion to the Premier League with the likes of Rodrigo, Robin Koch, Diego Llorente, Raphinha, Helder Costa and Illan Meslier all signing permanent deals at Elland Road.
The former Yorkshire Evening Post journalist reports that Leeds have a forward finance deal in place, which sees the club loan money from a bank or other “recognised lenders”. It is understood that over £30million has been borrowed but a plan is in place to pay it back.
Hay adds that Leeds will repay the loan with future money they will receive from broadcasting, something which is said to be common among Premier League clubs.
It is also understood that the club’s approach to this transfer window is likely to restrict how they operate in future windows.
However, getting the squad up to scratch for the Premier League in this transfer window was always the priority.
Marcelo Bielsa, Victor Orta, Angus Kinnear and Andrea Radrizzani have all worked tirelessly to turn a squad of Championship players into a squad that should be able to secure safety in the Premier League.
Although many fans have high expectations for the Whites after their promising start to the campaign, the goal at Elland Road is still to finish 17th.
Leeds can then slowly start to re-establish themselves as a Premier League club and if they do perform well this season and exceed their goal, there is less of a need to spend as much money in future transfer windows.
Bielsa has never been a fan of signing new players in January so we cannot expect much activity in the winter.
If anything, the club might not sign anyone at all unless there is a major injury crisis or something happens like the business involving Eddie Nketiah last season.
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