Leeds United News have the latest on the club’s financial situation after Robbie Evans’ comments following a disastrous deadline day in the summer transfer window.
It’s exactly six weeks to the day since the transfer deadline passed, with Leeds United now just over 11 weeks from January’s winter market opening up to the 49ers, Daniel Farke, Robbie Evans and co.
In the end, Leeds fans were left frustrated after deadline day in the summer. Evans claims Leeds ‘maxed out’ PSR. That came after Paraag Marathe’s comments were that Leeds would spend every penny available.
Including all add-ons, Leeds spent £108.5 million in the market but Leeds were restricted financially via PSR. Despite the disappointing end, it’s said Leeds’ hierarchy have full faith in Evans and Adam Underwood.
Evans is Leeds’ Managing Director, having been appointed to his current role during the reshuffle of the club’s recruitment department in the early stages of the summer. But he and others came under plenty of criticism after deadline day.
Photo by Carl Recine/Getty ImagesThe positive PSR outlook on Leeds’ January transfer window
The Facundo Buonanotte transfer saga and Leeds’ Harry Wilson deadline day fiasco left them with egg on their faces in many ways, in spite of making some shrewd additions in the market.
Leeds are already planning for January, despite Evans’ comments regarding PSR and the like. However, Evans has also ruled out Leeds signing free agents before then. It means they will have to roll as they are until then.
Their final attacker was Noah Okafor’s arrival after Dominic Calvert-Lewin. Fane expected more and Leeds’ late lack of spending under the 49ers was then explained in early-September.
MORE LEEDS UNITED STORIES
Now, Leeds United News’ football finance expert Adam Williams has detailed his thoughts on Evans’ comments and what comes next in January, having had time to reflect on the end to Leeds’ window.
Speaking exclusively to LUN, he said: “On first glance, I can see why some Leeds fans are questioning why they didn’t spend more in the summer transfer window — and why there will be demands in January.
“Teams promoted to the Premier League are moving towards the model where you drop £100-150 million or more to fix up your squad to compete in there and then.
“As opposed to clubs we’ve seen in the past who have used the TV money to sign low-risk players who will shine even if they are relegated again immediately.
“So, you have one higher-risk strategy and one that is aiming for more sustainable growth. Leeds seem to have fallen between the cracks in the two.
“And it’s true that Leeds were limited far by PSR than Sunderland. But I think they probably could have spent more without any immediate issues. I think they have the capacity to in January.
“The thing is, there are semantic differences when different groups talk about the ‘limit’ of PSR. Robbie Evans says they have ‘unequivocally maxed out PSR’, but what does that really mean?
“Have they given themselves absolutely zero room for manoeuvre within their £83 million quota? I very much doubt that. It wouldn’t be prudent.
“Ultimately, your PSR quota is going to be partially dictated by where you finish in the table, so they won’t even know what their upper limit really is yet. Even if they get a few more home games in the FA Cup, that can move the needle by a few million.
“Then you’ve got the January window. By then, they are going to have a better idea of what their bottom line is going to be for the season, so I expect there will be movement in a couple of months during that too.
“PSR is assessed over three-year cycles as well, so you might give yourself more grace this year in order to push the envelope more in the next. There are all sorts of reasons why you might do that.
“Maybe the market will look better in a year’s time, for example. So there are a lot more moving parts to PSR in real-time than many people realise. It’s more complex and not as simple as ‘we can spend X’.
“In Leeds’ case, however, it looks like they simply didn’t manage to get the deals they wanted over the line on deadline day. It’s a strategic thing, rather than a PSR issue, in my view. That’s before we look at the actual cash in the bank at Leeds, which is a separate analysis to PSR.”
Photo by MI News/NurPhoto via Getty Images
From the outset, Leeds were tipped to be busy in the transfer market by many. They were with 10 additions, but more was promised. Marathe’s comments to Sky Sports before the Everton game barely came true, either.
He was asked whether there were more signings to come. Marathe said: “Absolutely, history shows that there’s always a lot of activity in the last few weeks of the window; certainly, in the last few days of the window.
“We’ll exercise every day that we can. We’re still going to make the best decisions for us and success is not final; it’s a journey.
“And there’s going to be bumps on the road. Obviously, it’s the courage to continue that matters. So that’s why we’re going to keep going and doing everything that we can to prove that this club belongs.
“I’ve been quoted as saying we’ve been at this for a little while, thinking about what we need to do in preparing for the Prem. Really, I have to give my hats off to Daniel, to Adam Underwood, to Robbie Evans — they’ve done a really nice job of getting together.
“And being on the same page about the profile that we’re looking for — whether it be size, whether it be experience, whether it be whatever else. Leadership and things like that.
“Things which we think matters. And, for us, that’s the steps we are going to take. And we are going to keep looking for that profile to keep strengthening us.”
Of course, Leeds made more signings after these comments — and additions which are ageing better by the game, too — but it was not a question of their quality, but whether they had enough of said quality; they needed more.