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Leeds' Financial Problems

Despite losing the play-off final to Watford, which is said to cost Leeds 30m, should be better off next season despite failing to win promotion.

Despite failing to win promotion to the Premiership and losing their 6million 'parachute payment', they will finally have finished paying off former players such as Robbie Fowler and Robbie Keane.

The club have been paying off contracts to eight players who signed deals when Leeds were flying high in the Premiership and most of those come to an end next month.

Leeds' turnover in the year ending 2005 was 31million and though that will drop due to the ending of the parachute payment - which only lasts for two years after relegation from the top flight - the wage bill is expected to fall from 17million to less than 10million.

Current players such as Gary Kelly and Eirik Bakke still have a year left on lucrative contracts worth an estimated 1.25million each, but the payments to Fowler, Keane, Michael Duberry and several others will finish at the end of June.

Leeds' wage bill should then be brought down to well below 10million - still high though in comparison to Watford's 3.5million annual wage total.




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The Journalist

Writer:  Mail feedback, articles or suggestions

Date:Monday May 22 2006

Time: 3:23PM

Your Comments

I lot of clubs have learnt the hard way no more so than Leeds reference players over inflated wages. 10 million in wages per year is still far too much but at least the figure is coming down slowly.
tis_red
spot on
green giant 12
Leeds have been living as apremership club since they came down.
miked_joker
All the best leeds, we love ya
Leeds.til.i.die
had money problems for years like us
carlton owl
Good to see that you've got the problem under control, and one would presume that if/when you get back up, the same mistakes won't be mae again.
FEn_100
 

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