Leeds United made a loss of more than £4m for the year ending June 2018 after pouring money into players, salaries and scouting, their latest accounts show.
Companies House released Leeds United Football Club Limited’s paperwork on Thursday morning, which also revealed a rise in overall income from £34.1m to £40.7m.
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Despite revenues rising, the club did post an overall loss of £4,315,797 for the year, down from a profit of £976,367 for the previous 12 months.
Managing director Angus Kinnear penned the accounts’ strategic report and put the “worsened financial performance” down to investment in players, scouting and scouting.
A greater loss would have been posted, had it not been for an increase in revenue from player sales, largely the sale of Chris Wood to Burnley for £15m in the summer of 2017.
Aside from the headline figures, the accounts reveal player sales rose from £8.9m to £18.1m, while catering revenues rose from £3.9m to £5.2m.
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Kinnear revealed £1.1m of the increase in the club’s overall revenue was down to gate receipts and £900,000 due to merchandise sales.
The club made £1.3m from hosting Josh Warrington’s fight with Lee Selby at Elland Road too, while the investment from San Francisco 49ers made last year amounts to £11m.
