Championship Leeds United posted losses of UK£21.4 million (US$26.2 million) during the 2018/19 season, with the Championship club's accounts showing wages rocketed during the campaign, reports, www.sportspromedia.com/.
With owner Andrea Radrizzani bringing in Argentinian manager Marcelo Bielsa and overseeing a recruitment drive to deliver promotion to the top-flight Premier League, the club invested heavily in the playing squad.
United's accounts for the year ending 30th June 2019 show turnover increased from UK£40.7 million (US$50.3 million) to UK£48.9 million (US$60.4 million), with the average home attendance rising by 2,512 fans to 34,033. That increased gate receipts by UK£1.4 million (US$1.73 million) to UK£12.6 million (US$15.5 million) while commercial and merchandising income accounted for more than UK£21 million (US$25.9 million) of the club's annual revenue for the period covered.
Income streams increased across the board but Leeds' operating loss was UK£36.1 million (US$44.6 million), with a loss for the financial year and total comprehensive income of UK£21.4 million.
Wages were a huge contributing factor in that, with the accounts showing a steep rise from UK£31.4 million (US$38.8 million) in 2017/18 to UK£46.2 million (US$57.1 million) during 2018/19.