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Leeds: Phil Hay reveals huge financial fears from shareholders

Leeds: Phil Hay reveals huge financial fears from shareholders -Leeds United News

Phil Hay has revealed Leeds United’s wage bill has doubled since Andrea Radrizzani took over as Leeds United owner from Massimo Cellino, leaving shareholders terrified of what potential relegation ‘hell’ could do to the club.

The Lowdown: Leeds struggling

In their second season back in the Premier League, Leeds have a task on their hands to stay in the division as they sit just three points above the relegation zone after 10 games (Sky Sports).

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Premier League - Leeds United v West Ham United

Who scored Leeds' first goal of the season?

Radrizzani and co have invested heavily in the Whites’ playing squad, spending £140m on new arrivals since the promotion as they look to stay amongst the elite (Transfermarkt).

Rodrigo’s arrival smashed the transfer record last summer while the likes of Dan James and Diego Llorente haven’t exactly hit the mark so far either, and that trio alone are on an estimated £209k-per-week combined.

The Latest: Fear of relegation ‘hell’

Writing for The Athletic, Hay has revealed just how much is riding on survival in the Premier League this campaign. He said:

“Leeds, to put it plainly, have too much at stake to let this season get out of hand. They have a wage bill which looks like PAYE on steroids compared to the salary costs Andrea Radrizzani inherited from Massimo Cellino in 2017. It is understood to have doubled or thereabouts, up from £50 million during Radrizzani’s first Premier League season.

“The club have majority and minority shareholders who have seen enough of the EFL and it’s flagship, loss-making division to know that they have no business there. And much of their future planning is predicated on the construction of a bigger stadium, something which has always depended on continuing Premier League football. Hell, in the minds of the directors at Leeds, is another set of Championship accounts.”

The Verdict: Vital to survive

Not only have Leeds splashed out on transfer fees to compete amongst the best sides in the country, they have also been prepared to pay big wages too. According to Salarysport.com, Rodrigo is earning £100,000 a week, while seven others are bringing in over £50,000.

Will Leeds stay up?

Yes

Yes

No

No

In 2020, Aston Villa chief Christian Purslow claimed relegation from the top flight could cost a club as much as £200m (via The Washington Post) – a sum that would obviously leave a huge hole in Leeds’ finances.

Last month, Leeds Live revealed Radrizzani is worth just £450m (Leeds Live), which was the lowest in the Premier League at the start of the term not including the newly promoted clubs and Burnley, who recently changed ownership.

It therefore becomes clear quite quickly that relegation is not an option. Still, at least there is plenty of time left to get away from trouble.

In other news, Leeds want this Championship star.


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Article title: Leeds: Phil Hay reveals huge financial fears from shareholders

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