Leeds United’s transfer train has jolted back into motion again following two pieces of encouraging information inside 12 hours.
The deal agreed in principle with Newcastle United for Sean Longstaff is a big step forward in making Leeds Premier League ready. The reports that Anton Stach has agreed terms prompt further excitement but there’s still a way to go before we could see the Hoffenheim midfielder at Elland Road.
Both players are known targets of United, but optimism had been tempered after hurdles were put in the way; in the case of Longstaff, three rejected bids, and in the case of Stach that he has rival interest.
Longstaff would be a deal well-earned and Stach a bit of a coup. United’s midfield numbers would rise from four to six and mean the club would have shelled out a lot of money.
If the £15million fee mooted for Longstaff and the £17.4m asking price of Stach are both true and subsequently sealed, it would take the club’s spending to north of £60m with barely any money brought in from sales and a new goalkeeper and striker still needed.
Rasmus Kristensen's £7.7m package sale to Eintracht Frankfurt sees only £5.1m of that paid up front. Meanwhile, Max Wober could only secure a loan exit to Werder Bremen after Leeds could not find a suitor to pay above amortisation book value, though there is an option-to-buy clause attached.
Of course, it is right that recruitment progress is made despite the lack of sales so far. Departures can always retrospectively drum up funds to balance the books, but sales are indeed very much a necessity.
United’s transfer budget has not been disclosed but the general consensus is that it is nine figures. If the total expenditure does creep over £60m without sales in the meantime there will be mindfulness of what is currently left to fill the other areas of the squad.
And then in turn there will be awareness of their standing within the damned profit and sustainability rules. It all points to a situation we all knew anyway - Leeds must sell in order to get in everyone they need.
In a Leeds Live poll earlier this summer, United fans, by some distance, voted goalkeeper and striker as the two most important areas of reinforcements. If none are acquired before Longstaff’s move is sealed and Stach’s potential move comes off, then that’s six players in - but none in the two most key areas.
Leeds United are closing in on the signing of Newcastle's Sean Longstaff
Leeds United are closing in on the signing of Newcastle's Sean Longstaff (Image: Photo by Michelle Mercer/Newcastle United via Getty Images)
This is not intended to pour cold water over the excitement over the potential new arrivals. Both would raise the quality of the squad and a midfield that is currently thin on options. It would denote solid business.
At the same time, United need to start selling soon. With nearly all players now back for pre-season, talks will need to be staged about next steps.
Mateo Joseph said he planned to host such discussions once he returned to camp, having made clear his desire for more game time. Jack Harrison’s status as a Leeds player is on the rocks while the likes of Joe Gelhardt and Sam Greenwood are surely destined for exits.
Will these fringe players alone create enough cash to balance the books? That’s a question only time will answer. Leeds were within PSR limits last cycle but not by much.
They currently have the same three-year loss threshold as in the last cycle yet need to revamp their squad with serious investment. The financial regulations are skewed against promoted clubs but Leeds have to abide by them for now.
Patrick Bamford and Illan Meslier could be sold while calls also need to be made on the likes of Darko Gyabi. Leeds must cut their cloth accordingly.
Chairman Paraag Marathe said he would look to maximise spending limits, not break them. Decisions need to be made before long to ensure Leeds give themselves the best chance of landing all of their key targets before the opening night of the season.
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