Leeds announce net loss of £8.9million for financial year 2015/16

Date published: Friday 24th March 2017 5:33

Leeds have announced a net loss of £8.9million for the financial year 2015/16.

The figure is an increase of £6.3million on the previous year, which the club put down to a reduction in profits generated from player sales.

Leeds revealed the extent of the loss after filing their financial statements for the period ending June 30 2016 at Companies House.

The club saw their total turnover rise by £5.7million to £30.1million, and gross profits generated also increased by £4.3million to £24.7million.

In a statement on the club’s website, Leeds say they have “continued to carefully manage (their) operating cost base effectively”.

They revealed first-team playing wages represented 50 per cent of the turnover, compared to 71 per cent during the previous financial year.

Leeds are currently battling for promotion back to the Premier League after 13 years, lying fourth in the Championship with an eight-point gap to Fulham, who are one place outside the play-off spots.

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