Leeds United have posted their accounts for the 2018-19 season which show mounting losses despite a record revenue for a Championship club that has not received parachute payments.
Companies House released Leeds United Football Club Limited's latest figures on Wednesday morning which cover the 12 months up until June 30, 2019 and show an operating loss of £36million and an annual loss of £21.4million.
These figures take in Marcelo Bielsa's first season at the club, which saw wages for the coaching and playing staff increase dramatically with wages across the club sitting at £46million. And a series of improvements to the Thorp Arch training ground, meaning that this increase in losses comes as little surprise.
Despite these losses, the club are confident that they have stayed within Financial Fair Play regulations.
Turnover for the year was up by £8.3million, with gross profit rising from £32million to £38million, as all revenue streams from across the club saw a year-on-year rise.
Player sales saw the club raise approximately £15million, with the fees received for Ronaldo Vieira and Jack Clarke helping to offset the £36million operating loss to the £21.4million overall loss.
The club's administrative costs - a figure that includes wages - were up by £22million, showing where the loss comes from.
Other findings from the figures show that promotion to the Premier League would see players, coaches and other staff receive bonuses totalling £20million, while the amortisation of player costs grew from £8million to £12million.
