By Craig Scott

30th Aug, 2022 | 6:40pm

Phil Hay: Andrea Radrizzani offered money Leeds United didn't have for Charles De Ketelaere

Leeds United may have agreed a fee to sign Charles De Ketelaere earlier this summer without having the funds already sitting in their bank account, according to Phil Hay.

On 4 August, Andrea Radrizzani told The Athletic that Leeds agreed with Club Brugge they would pay £33.5million (€40m) for the Belgian forward, only for him to decide he wanted to join AC Milan instead.

Interestingly, on Tuesday (30 August), David Ornstein told The Athletic Football Podcast that he’s “there is no finance available now to do further incoming business” at Elland Road.

Ornstein’s update has led to confusion among Leeds fans who have been waiting for that unused De Ketelare money to be put forward again for a different new signing.

Hay has addressed that though, saying Leeds were offering money they either had to raise from player sales or from investment from Radrizzani or the San Francisco 49ers.

“I understand the confusion here because Radrizzani said publicly that they’d agreed a 40m Euro deal for De Ketelaere,” said Hay on The Athletic website.

“Therefore the question, what happened to that money?

“Leeds don’t appear to have that money sloshing around in the accounts. They would have had to find it if De Ketelaere had chosen them, either through the sale of another player or via investment from a shareholder (Radrizzani or 49ers Enterprises).

“There doesn’t seem to be any other target which is tempting them to do that so as it stands, it could be a quiet end to the window.”

Makes sense

Leeds couldn’t afford the signing of De Ketelaere at the time but it seems that Radrizzani so sold on signing the Belgian international that he was probably willing to pump the cash into the club.

Looking at the way the transfer window has gone this summer, Leeds went into it only being able to spend what they made in player sales.

Raphinha and Kalvin Phillips’ move away from Elland Road raised a huge sum of cash and that allowed Jesse Marsch to welcome the likes of Brenden Aaronson, Luis Sinisterra, Tyler Adams and Rasmus Kristensen.

However, all that money seems to have been used now with Leeds’ net spend on transfer fees this summer not being too far off breaking even.

Leeds should have some investment coming in though, surely?

Radrizzani cannot be short of a few bob and we know that the 49ers increased their shareholding to 44 per cent less than a year ago by the way of investment.

Where has that money gone?

Leeds need a new striker and a new left-back before the 11pm deadline on Thursday (1 September).

Don’t let us down by selling the squad short again, Leeds.

In other Leeds United news, Marsch would pay £25million to get this last-ditch forward signing over the line.