Leeds United to avoid Leicester City financial predicament?

Leeds United say they were compliant with financial rules in the top two tiers despite a loss of more than £30million now emerging in their latest accounts, according to Phil Hay.

The Athletic journalist reported via the outlet’s website on 10 April in the wake of the club’s financial figures for the 2022/23 season showing a loss of £33.7m on top of a £36m loss the year before.

Despite a record turnover of £189.6m and player transfers bringing in £73m in the period up to the end of June 2023, “soaring” administrative costs and an increased wage bill saw the the Whites’ operating loss increase by £71m over the year, while nearly £10m was spent on sacking managers as the club were relegated from the Premier League in the final season of Andrea Radrizzani’s ownership.

However Hay says the club recently insisted they remain within the loss boundaries permitted under profit and sustainability rules by both the Premier League and the Championship.