Leeds United still owe over £100m in transfer instalments after their 2021-22 accounts were released, Football Insider reports.
What’s the latest Leeds news and what has happened with Augustin?
The Whites have spent a fair amount of money since returning to the Premier League back in 2020, with their biggest outlay of the three seasons coming during the current campaign.
Elland Road officials brought in sizeable fees for Kalvin Phillips and Raphinha over the summer but ended up bringing in plenty of players at a total cost of €145m (£127m) during both windows.
That figure doesn’t factor in the possible £30m deal to make Weston McKennie’s loan move permanent this summer either, something Leeds look likely to exercise, should they remain in the top flight.
As Football Insider reports, the club released their accounts for 2021-22 earlier this month, which shows that £100m+ is still owed in transfers. £52.6m will be paid on outstanding transfers within the next 12 months, while the remaining £51.2m is owed beyond the current financial year.
This relates to moves for a number of players including Dan James, Jack Harrison, Junior Firpo and Jean-Kevin Augustin. The report adds how the figure will rise even further when the time comes to release their 2022-23 accounts after their transfer activity in recent months.
This comes on top of another financial setback for the club after it was revealed that FIFA have ordered Leeds to pay £24.5m to Augustin for a breach of contract, although the club are set to lodge an appeal.
Could Leeds be in trouble financially?
Transfers are normally paid in instalments, so this isn't exactly a shock, with financial expert Kieran Maguire saying that the news on Augustin should not be an issue to likely new owners, 49ers Enterprises, and previously stated that the club’s overall 2021-22 financial results were solid.
Another season of Premier League football would help the club financially but relegation could leave a number of Leeds supporters concerned. Fans only need to look back to 2003 when the club were close to financial collapse, a time which began a dreadful period which included League One football.
Marcelo Bielsa was the man to take the club back to the top flight after a 16-year absence, so supporters could be fearing a repeat, should the worst happen on the pitch in the final nine games. Hopefully, Javi Gracia can guide the club to safety and the club can learn from their transfer blunders, with Augustin potentially costing an incredible £816,326 for every minute of competitive action he played for the Whites.
