The impact of Leeds United's relegation from the Premier League has been laid bare after the Whites released their latest figures for the 2023/24 financial year.
The club was relegated from the top flight in May 2023, missing out on a large chunk of revenue from the Premier League's lucrative TV deals and commercial benefits
The Whites recorded revenue of £127.6m which was 33 per cent down on the previous years total of £189.7m, with broadcast revenue streams dropping dramatically from £111.5m in the top flight, down to £53.5m in the Championship.
Wages also dropped drastically down 42 per cent from £145.9m in their last season in the Premier League, down to £84m in last season's Championship play-off push.
The figure for amortisation stood at £59.6m, down 27 per cent from £81.1m in the top flight. The club spent £38.2m on player purchases last reason, signing the likes of Joel Piroe, Ethan Ampadu, Ilia Gruev and Karl Darlow on permanent deals.
A general view of Elland Road
Leeds were able to rake in £69.1m in player sales, with the likes of Tyler Adams, Luis Sinisterra and Archie Gray leaving the club on permanent transfers during the accounting period.
That figure does not include the sales of Crysencio Summerville, Georginio Rutter, Glen Kamara or Charlie Cresswell, with all four players leaving Elland Road after the accounting period deadline on June 30, 2024.
Player sale profits were £34million, down 54 per cent from the previous financial year, while the figure for transfer fee payables stood at £142m and transfer fees receivables owed from clubs was £69m.
The transfer fees paid for the squad in total last season was £281million.
The Whites posted an underlying loss of £69.9million, down ten per cent, with a loss before tax of £61m - up a whopping 80 per cent from 2022/23.
On page 31 of Leeds' financial accounts 23/24, as published on the club's official website, is a Contingencies note that may be of concern to supporters. Item 27 says: "At the year end there were a number of legal claims outstanding against the company. These claims are being challenged by the directors and so there is significant uncertainty over their outcome. For this reason no provision has been included."
Leeds are plotting a return to the Premier League next season but are in the midst of a brutal automatic promotion race with Sheffield United and Burnley, with just two points covering all three clubs at the top of the Championship. The Blades currently lead the way on 83 points with Leeds and the Clarets both on 81 with seven games left to play.