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Despite failing to secure promotion at the final hurdle in the 2023-24 season, Leeds United remains supported by ambitious owners and boasts one of the largest and most passionate fanbases in the country.
Red Bull’s minority investment in Leeds signifies another major endorsement for the club. With the right strategies, Leeds has the potential to become a powerhouse in European football.
Their commercial revenue is envied by many in the Championship and surpasses that of several Premier League clubs. Matchday income is also robust and is expected to increase with plans to expand Elland Road. As the most watched club in the second tier, Leeds is likely to receive the largest share of media income from the EFL. All these factors point towards a strong promotion campaign if Daniel Farke and his squad perform well.
For insights into Leeds’ financial situation and its future impact, TBR spoke exclusively to Kieran Maguire, a football finance lecturer at Liverpool University and author of “Price of Football.”
Leeds holds the Championship’s most lucrative front-of-shirt deal, providing significant financial benefits. Some fans were initially upset when the new home kit, featuring the Red Bull logo, leaked due to its associations with rivals Manchester United. However, the financial boost this deal provides is nearly unprecedented for a second-tier club, giving Leeds a natural advantage under the EFL’s Profit and Sustainability Rules.
Maguire highlighted, “Leeds has the largest front-of-shirt deal in the Championship. Even in this league, their commercial income surpasses that of many Premier League clubs. When they were last in the Championship, their commercial revenue was £30m, increasing to £50m in the Premier League. This reflects the club’s size. Although it will decrease, Leeds will still have the highest selling away shirt in the Championship, giving them a significant head start.”
He also noted that Leeds lost £70m in their last two Premier League seasons despite substantial player sales, indicating poor cost control. Wages and amortization during their last Premier League season amounted to 120 percent of income.
