Report details worrying Coronavirus problem for Leeds, claims ‘drastic’ measures required
A worrying report in the Daily Mail has said that up to six Championship clubs could go bust in the wake of the Coronavirus outbreak.
The EFL revealed this week they were putting in place a £50m fund that would award clubs immediate payments that were owed in the future as well as offering loans.
However, the report claims that will only last four weeks and that “drastic” action is needed.
Specifically, the story namechecks Leeds as one of the Championship clubs that is “struggling” and “most vulnerable”.
None of the six Championship clubs in the most danger are actually named, though.
The suggestion from the report is that pay cuts across the board, including players, will be the only way forward, while the EFL would pay forward some of the Sky money for next season when they get it.
Financial black hole
Finances in the Championship are precarious for clubs like Leeds, who don’t have parachute payments to rely on and have huge wage bills.
Leeds’ finances are based on Elland Road selling out and the remaining five home games in the season will have a dramatic effect.
Sky want games to start again as soon as possible – for obvious reasons – but there will be resistance to starting them behind closed doors from clubs.
Leeds, however, have said that finishing the season is key and they would accept playing without fans if the alternative was not playing at all.
The light at the end of the tunnel for Leeds is the Premier League. The problem is, no one knows how long it will take to get there. And it’s not yet a certainty for Leeds.
Pay cuts sound drastic but footballers are well rewarded, some at Leeds exceptionally so.
Now could be the time to put that in motion, not just at Leeds but across the board.
In other Leeds United news, Radical plan shows realistic way for EFL to complete season, would be huge Leeds boost