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LEEDS UNITED SET TO PAY PRICE FOR PROMOTION

Sat Mar 25, 2017 3:55 pm

LEEDS UNITED SET TO PAY PRICE FOR PROMOTION


By Football League

Saturday 25th March 2017

Leeds United could face a bill of £5m if they win promotion, according to their annual accounts, via a report on the Football Insider.

The club could be forced to pay the sum, reported at £4.75m officially, if they win promotion this season, triggering a clause in the accounts which states:



“In the event of the club becoming a member of the Premier League before the 2017-18 season, then a liability of £4.75million will become payable to the liquidator to Leeds United under the provision of the sale agreement entered into on 4 May 2007,”

The payment is linked directly to creditors, who lost out on money when the club went into insolvency back in 2007.

The news though would not be too much of a bitter pill to swallow, with promotion to the Premier League now said to be worth nearly £200m for clubs coming up from the Championship.

Garry Monk has managed to guide Leeds to what looks like a certain playoff spot, meaning this could well become a reality in just a few months time. Owner Massimo Cellino though will no doubt take the fine, with the riches the Premier League brings more than making up for the sum.
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Re: LEEDS UNITED SET TO PAY PRICE FOR PROMOTION

Sat Mar 25, 2017 11:49 pm

Their not going to get promoted anyway I'm looking forward to giving the scum a good pasting next year :ayatollah:

Re: LEEDS UNITED SET TO PAY PRICE FOR PROMOTION

Sat Mar 25, 2017 11:57 pm

Their not going to get promoted anyway I'm looking forward to giving the scum a good pasting next year :ayatollah:

Re: LEEDS UNITED SET TO PAY PRICE FOR PROMOTION

Sun Mar 26, 2017 1:11 am

hope you guys got good knecks looking up at dirty leeds this season lads?
makes a pigging change tho..