Leeds United’s accounts for the 24/25 season have been revealed, and it paints the 49ers in a much more positive light than many would be willing to admit.
It’s very easy when a transfer window doesn’t go Leeds’ way to immediately paint the owners in a bad light. Our last failure in the Premier League was virtually all down to decisions made by the top of the hierarchy.
However, the 49ers have put Leeds in a very good position to stay in the division. And, they’ve done so by pumping an enormous amount of money into Elland Road.
Leeds United’s 24/25 accounts revealed – Championship record revenue as Whites dwarf half of the Premier League
Wednesday evening brought confirmation of Leeds’ accounts for the 24/25 season – the campaign in which Daniel Farke claimed promotion from the Championship.
Plenty of it is as you’d expect for a club of Leeds’ size in the EFL. Wages are high, there were big sales and debt that needed to be shrunken, but the revenue generated by the club was monumental.
Finance expert Kieran Maguire has broken down the figures, outlining how Leeds’ revenue of £137million is the largest ever seen for a Championship club. The Athletic added further context to the matter, sharing that commercial income of £58.1million was better than 10 Premier League sides last season.
Alongside that, Leeds were averaging £45,000-per-week in wages with one of the highest bills in EFL history too. Consequently, it led to an underlying loss of £65.1million, further highlighting the pressure on gaining promotion last season.
The Leeds United publish 24/25 accounts when they were promoted from the Championship.
🔑figures
⚽️Revenue £137m (Championship Record) ⬆️7%
⚽️Wages £107.7m ⬆️28%
⚽️Ave weekly wage £45,000
⚽️Underlying loss £65.1m ⬇️7%
⚽️Player sale profits £25m ⬇️25%
⚽️Loss before tax £49m ⬇️19%… pic.twitter.com/9Ki3tv7lxj
— Kieran Maguire (@KieranMaguire) April 1, 2026
49ers owed an apology as stunning Leeds United revenue numbers are revealed
These sorts of numbers are simply unheard of at Championship level. To be a top-half Premier League standard for commercial income while playing in the second tier is huge going forward.
Next season, the top flight shifts to season-on-season ‘Squad Cost Ratio’ spending restrictions, doing away with three-year PSR cycles.
For a club like Leeds, that surely looks like a benefit, as we can come straight into the Premier League and mix it with top-half sides in terms of spending power. That’s as opposed to being saddled with two previous seasons of Championship losses to contend with.
It further underlines the notion that Leeds simply have to stay in the Premier League this season. The club’s potential is enormous, and sticking the landing gives the 49ers a real platform to build something special.
As a result, those who are quick to judge the 49ers’ supposed lack of spending might have to eat their words. It’s abundantly clear they’re spending every penny they possibly can within the rules.
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