Date:Wednesday January 25 2012
Leeds United chairman Ken Bates has explained where the money from the transfers of Kasper Schmeichel and Max Gradel has gone as well as pushing the boat out on the wage bill.
Bates spoke in his programme notes ahead of the game with Ipswich Town last weekend and said there was a £2 million overspend on player wages.
He says that the club are pushing the boat out on player wages on a squad of 28 players, one of the largest in the championship, as he often likes to point out.
Speaking on Yorkshire Radio, Bates said, "Our wage bill at £9.5 million is one of the highest in the championship. It is not the highest because you have teams like Middlesbrough, West Ham and Birmingham who are still running down their Premiership wage bills and wage contracts because they were foolish enough not to include a relegation clause in the players contract, which is now becoming general practice.
"At £9.5 million we are pushing the boat out and I have explained before how the money is spent, whether it is spent on transfers or wages, it doesn`t matter, it is still spent and that is up to the manager to decide.
"I thought it is worthwhile pointing out, the wage bill at the moment is going to be £11.75 million instead of £9.5, that is 23% over budget.'
Fans have often questioned where the money from the sales of players has gone with most players coming in on free transfers, loans or undisclosed fees.
Schmeichel and Gradel both left in the summer and Bates says the money from the sale of Schmeichel has already been spent, whilst the money from Max is still available but not as much as some people would like to think
"People ask where the transfer money as gone, Schmeichel`s money went on Lonergan and Pugh and with the 5% levy, agents fees, yes the agents fees, that about evens itself out.
"The Max Gradel money, which we got from St Etienne. Well first of all we have only had half of it anyway. Secondly, Leicester City including a 17.5% sell on, so we do not get as much out of it as you might think and as we are being paid in euros, because they are a European club. The pound has strengthened against the euro, so as when we did the deal, it was about 1.10 euros to the pound and it is now about 1.20 euros to the pound, so we have probably lost about 7% of the total value.
"That money is still there and that money is in the pot and when it is spent it will be spent wisely," continued the Leeds chairman
Vital Leeds are the proud sponsors of the Thames Valley Whites Regional Supporters club
The fastest growing Leeds United supporters club in the South of England, with over 200 members since its formation in April 2009, travel to all games home and away.
The branch has pick up points at Basingstoke, Reading, Didcot, Abingdon, Oxford, Bicester and Banbury and will consider other pick up points on request.
Vital Leeds offers everything that a Leeds United supporter could wish for. If you can think of something and suggest it, we`ll put it on the website!
With news and views, along with a forum, polls and article comments, everything you need in a fans site is right here!
You can even win prizes, by posting articles comments, posting on the message forum and voting on the polls.
Vital is also 100% interactive. Not only can you have your say on the articles and the forum but you can also suggest an article or a poll so you can air your views.
So why not join Vital today?
It's easy to register here and enjoy getting involved
To visit the message board, click here.
This website is your website and we are looking for people to help run the site. Do you go to most of the games and have an opinion? Why not write a match report? Perhaps you are a budding journalist or even just someone who is very opinionated? Well why not join our team? If this interests you please contact Vital Leeds .
Vital Leeds is now available on both facebook and twitter, so if you are that way inclined and more importantly understand all this new fangled dangled stuff, feel free to watch us, poke us or whatever else you are meant to do there!
Vital Leeds on:
Vital Leeds on:
Join Vital Leeds
It's easy to REGISTER HERE, simply click the link and enjoy getting involved!
Date:Wednesday January 25 2012
LUFC On This Day - August 21st (Thursday August 21 2014)
LUFC Leeds complete Antenucci deal (Wednesday August 20 2014)
LUFC Leeds Fan View v Brighton (Wednesday August 20 2014)
LUFC Striker facing a month on the sidelines (Wednesday August 20 2014)
LUFC On This Day - August 20th (Wednesday August 20 2014)
Stats: Leeds United v Brighton and Hove Albion (Tuesday August 19 2014)
Leeds beaten by Brighton (Tuesday August 19 2014)
LUFC BREAKING Leeds v Brighton Teamsheet (Tuesday August 19 2014)
LUFC Sharp to win shootout against Mackail-Smith? (Tuesday August 19 2014)
Hockaday doesn't want visitors to have a nice time (Tuesday August 19 2014)
|19. Leeds Utd||3||1||0||2||-3||3|
|LUFC On This Day - August 21st
» Leeds Utd : 21/08/2014 07:12:00
|Meet The Ref - Latics v Blackpool - Carl Boyeson
» Wigan : 21/08/2014 07:00:00
|PWU Latics Podcast - Hang On In There
» Wigan : 21/08/2014 06:00:00
|Burnley Submit £5 Million Bid For James McArthur
» Wigan : 20/08/2014 23:39:00
|Cardiff 1 Latics 0 - Missed Chances
» Wigan : 20/08/2014 23:15:00