Leeds United’s financial records for the year ended June 30, 2023, revealed a staggering operational loss and verified that their pay expenditure had increased by 20% to £146 million.
After the international break, Leeds United hasn’t looked like the team they once were. Their much-heralded attack has failed, and their momentum has been halted by their inaction. After serving overseas, a few athletes returned home with injuries and missed games. Some have lost their shape and fallen short of the standards they set in the first few months of 2024.
In the final stretch, are the Whites losing steam? Despite having the means to rotate the team, Daniel Farke used his bench late in the match against Sunderland, something he has done frequently this season. Mateo Joseph, Joel Piroe, Connor Roberts, Wilfried Gnonto, and others should have been given more time to enter the game and affect the outcome because his team’s play looked labored and predictable.
Farke is not being asked to tear everything down and start over. He has been here before, bringing Norwich City to the promised land twice, so he knows what he is doing. EFL expert Don Goodman told Sky Sports, “It’s one win from the last four, but let’s put it in perspective.” “It has won 13, drawn 3, and lost 1 in 2024.
Leeds United would have grabbed your hand if you had given them that string of performances on January 1. That puts everything into context. Nobody should be in a panic or start tossing their toys out of the stroller. This is a little mishap, and United has the ideal person to help them get back on track.
It is appropriate that Farke has been nominated for the March manager of the month award; tomorrow will see the announcement of the winner. He will be aiming for a hat-trick of victories, but Carlos Corberan of West Brom, David Wagner of Norwich City, and Kieran McKenna of Ipswich Town will be tough opponents. It is an acknowledgment of all the effort and outstanding work Farke has done to turn around their situation. However, the task remains unfinished. A lot is riding on the events of the next few weeks.
The value of Premier League football was highlighted in the club’s most recent set of financial statements. A whopping £106 million was lost by United in operating losses between June 2022 and June 2023, however the enormous losses were somewhat mitigated by the player sales of Raphinha to Barcelona and Kalvin Phillips to Manchester City. The club’s strategy report states that the big-money sales of Phillips and Raphina allowed the team to grow “while prudently managing the club’s finances within the Premier League’s Profit and Sustainabilty rules (PSR)”.
The Whites were going through a trying time, as seen by the 20% increase in wages to £146 million and the £9.5 million payoffs for head coaches like Jesse Marsch and Javi Gracia. Based on player purchases, United does indeed owe £190 million in transfer payments; of those, £73.6 million are due by the end of the June 2024 fiscal year. Farke has significantly increased the playing squad’s asset value. The German was successful in keeping the team together, therefore none of the crown jewels were sold off during the January transfer window. However, if they miss the playoffs or are unable to finish in the top two, this team will undoubtedly disintegrate.
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